Here are some tips for setting up a company online.
What are the typical options for setting up a company ?
- Go Directly to ASIC – get the registration certificate, but you wont get a constitution or share certificate and company register documents and completing a 201 Company incorporation form is not simple for many people.
- Engage an Accountant – this can cost between $3,300 – $1,100, but they will give you some advice on how to structure the shares if needed
- Go online and DIY it – its cheaper, you get all required legal documents and its fast
So what do you need to get started:
You will need the following:
- Name for your company – IE: J Smith Pty ltd or Solutions One Pty Ltd
- An Address – you can use a home address for the company where the company does not have commercial address or premise
- Directors details – Date of birth, place of birth, full name
- Decide on the shares to be allocated for your company – for most small businesses one single ‘Ordinary share’ at a cost of $1 Aud is sufficient per director. You will need to seek advice if you intend on adding employees and raising capital for the business by engaging a qualified corporate lawyer
Once your company is registered you will need to think about the following
Who will prepare your companies tax returns and lodge Gst or Bas reports with the ATO?
Register your business for with an ABN by going to www.abr.gov.au
you can apply for an ABN and Tax file number for your company and if your income is over $75,000 per annum you must pay Gst and register for Gst
Do you need a trademark for your business ?
Do you need legal advice on structuring your company for growth and expansion
Setting up a company and operating it is not as hard as many people think, but it helps to do your research and get good advice before you commence trading.