For more information, please refer to the instructions below:
- Go to the given link http://nowinfinity.com.au/
- Login through the portal.
- Click Menu then go to Create Document, then choose Standard Company under Company Formations section.
Please note : that price may vary depending with ASIC. To check the company registration fee, please visit https://asic.gov.au/for-business/payments-fees-and-invoices/asic-fees/fees-for-commonly-lodged-documents/starting-a-company/
After clicking the Standard Company from the Menu page, user will be redirected to the Interview Form.
A company have the option to choose its own name. There are several requirements for the field.
- Proprietary limited companies should contain the words proprietary and limited. The following abbreviations are also accepted:
- Proprietary Limited
- Proprietary Ltd
- Proprietary Ltd.
- Pty Ltd
- Pty Limited
- Several words are not allowed to be used such as:
- Unusual words for Company Name will prompt to have a manual processing.
- Only ASCII characters are allowed to be used on the field. (ie: Special characters). (See this link for the list of accepted characters: https://asic.gov.au/for-business/registering-a-company/steps-to-register-a-company/)
- If any of the requirements are not met, red color image will be displayed on the field.
- User should select “No” on Use ACN as company name? drop down menu.
Select “NO’ on Use ACN as the company name
Check button will allow user to know if the entered Company is still available
What is ACN? How will it be displayed?
The ACN (Australian Company Number) is a unique nine-digit identification number issued to every company in Australia (eg. 987 654 321). If the ACN is selected as the company name it will appear as follows “A.C.N 987 654 321 Pty Ltd”.
When user decides to have ACN as a company name, then select “Use ACN as company name?” as “Yes” from the drop-down menu. Notice that the field changes, there is no longer Proposed Company Name field.
User is required to select any of the following on the drop-down menu.
If user decide to change the company name, an ASIC Form 205 need to be lodge.
Please note : That lodging a Form 205 will inquire a lodgement fee. To know more of the fee, visit https://asic.gov.au/for-business/payments-fees-and-invoices/asic-fees/fees-for-commonly-lodged-documents/changing-the-set-up-of-your-company/
User can select where the company has its jurisdiction of registration using drop down menu.
It is usually the state or territory in which it intends to primarily conduct its business or where its registered office is located.
To change the state or territory of registration, A Form 2213 will need to be lodge with ASIC. Note that a lodgement fee will be applied when lodging this form. ASIC do not accept electronic lodgement of this form.
Please note : To know more about the fee for Form 2213, visit this link: https://asic.gov.au/regulatory-resources/forms/forms-folder/2213-application-for-change-of-state-or-territory-of-registration-of-a-company/
User is required to select the jurisdiction
User can select “Yes” or “No” as choices from the drop-down menu. If user will select “Yes”, “Have you got an ABN or State Business Number” drop down menu will be displayed. There will be no changes if user selects “No”.
Selection for “Is the proposed company name an existing business name?” By selecting “Yes” a new drop-down menu will be displayed.
5.1 State Business Number
A State Business Number is a number given to a business that was registered before 28 May 2012.
The State Business Number may vary depending on the state or territory
5.2 State Business Number
An Australian Business Number (ABN) is a unique 11-digit number that identifies your business to the government and community. Upon selecting ABN from the drop-down menu, ABN field will be displayed. User can manually enter the 11-digit number from the field. ABN can be obtained through ASIC website (http://www.asic.gov.au/).
Case : The name in the opinion of ASIC, the context in which it is proposed to be used, is undesirable for reservation in that the holder of the identical business name is a partnership, and each of the partners must be a proposed director or member of the proposed company.
Resolution : If the business name is owned by a partnership, both partners needs to be recorded as a Director and / or Shareholder of the company.
Case :V557 ABN is not that of the business name
Resolution :Verification on the ASIC website as to whether the Business Name entered has either an ABN or Business Number and correct accordingly.
Case :The document in the opinion of ASIC is unacceptable because:
Note: until the 'cancelled' business name becomes available, the proposed name is not available to register as either a company or business name.
Resolution : Cancellation of a Business Name is not immediate and once the cancellation is completed, the business name will be put on hold. The hold will be lifted based upon:
- If the cancellation of the business name was initiated by the owner of the business, the name will become available after 4 months from the time the business was cancelled
- If the cancellation of the business name was initiated by ASIC the name will become available after 6 months from the time the business was cancelled.
What is an Ultimate Holding Company?
An ultimate holding company is a company that has the overall control of the new company. An ultimate holding company can have any number of subsidiaries but cannot itself be a subsidiary.
User can select “Yes” or “No” as choices from the drop-down menu. Ultimate Holding fields will be displayed when user selects “Yes”. There will be no changes on the field when user selects “No”.
7. Have you reserved the propose name by lodging a form 410?
When reserving a company name prior to the registration of this company an ASIC Form 410 (Name Reservation) is required to be lodged. Once the form is lodged, ASIC will provide a reservation number which consist of 8 digits and one alphanumeric character (e.g. 2E1234567).
Please note : That lodgement of Form 410 will cost additional fee with ASIC. To know the fee, visit this link: https://asic.gov.au/for-business/payments-fees-and-invoices/asic-fees/fees-for-commonly-lodged-documents/starting-a-company/
User can select “Yes” or “No” as choices from the drop-down menu. Additional fields will be displayed when user selects “Yes” from the drop-down menu. No changes on the field when selected “No” from the drop-down menu.
Here is the sample screenshot of a complete and valid form for Company Details.
When user clicks Next Step button, it will be redirected to Trust page. User has also the option to save the current form by clicking Save and Complete Later link. Saved forms can be accessed using Saved Documents link from the Main Menu.
Trust form is optional. User can still create a Company without inputting any details from Trust.
User can select “Yes” or “No” as choices from the drop-down menu. If you would like to prepare a trust at the same time of a company registration, please select YES. There will be no changes in the form when user selects “No”.
In some instances, a resolution to open a bank account is required. If required a resolution will be incorporated to the documentation.
Note : User will have the option to click Next Step button if option 1 is selected as “No”
Note: This is only applicable if user selected “Yes” in Option 1.
The user will be given a list of trust that they can choose from.
Then user will also need to input the name of the trust.
Note : When user decides to establish the trust documents will still not be created. User will need to complete additional steps, which are the following:
- User will need to wait for the company to be registered first.
- Once registered, user should go to Collaboration page to continue with the application (using the link from the email).
- User needs to complete the form using a link in the collaboration page under “Integrations” section.
Here is the sample complete and valid form for Trust.
All Australian companies must provide the following to ASIC:
- The address of the registered office and principal place of business
- The residential address of each officeholders
- The address of each member of a proprietary company
An Australian company must have a registered office to receive all correspondence (including ASIC correspondences). The registered address does not need to be the same as the company’s principal place of business.
If the company does not occupy the premises, the owner/occupier of the address must give a written consent to use the address as the registered address of the company.
User will be able to input the details manually. here are several requirements for Registered Address such as the following:
- Registered Address should be in Australia
- PO Box is not allowed
- Can be occupied by another entity
Here are the details for Registered Address:
1.1 Care Of
This phrase indicates that something is to be delivered to an addressee where they don’t normally receive correspondence. Field is only available for the registered address section.
User can manually input the unit/level. This field is not mandatory, so user can leave it blank.
NOTE: ASIC (via RA72) sometimes return the address as U 1, L 1 or G instead of the word itself (like Unit, Un, Level or Ground Floor).
This is normal especially if it’s via EDGE transmission. But ASIC record them as Unit, Level and Ground Floor.
1.3 Street Address
User can manually enter the street address. If the street address is invalid, a tallow exclamation point will be displayed.
User can manually enter the name of the suburb. When user enter the first letters of the suburb, a list of suggested suburbs will appear together with the state and postcode.
User cannot manually enter the name of the state. User will need to choose from the list of Australian states inputted in the system. Non-AU is not part of the list since overseas address is not allowed for registered office.
User can input the postcode manually.
1.7 Will this company occupy the address?
If the occupier of the address is not the company, a written consent must be given by the occupier of the address (as per Corporations Act Section 184.108.40.206).
User can select Yes or No from the choices. If the user selects No from the selection, another field needs to be answered.
1.8 Company that occupies
NOTE: This option will only be applicable if the user answered No to 1.7.
User will need to enter the name of the occupier of the address. Another document will be generated, and it is called “Consent of Occupier”.
Same as with the registered office, user can manually enter the principal place of business. If the principal place of business is different from the registered office, ASIC must be notified (as per Corporations Act Section 220.127.116.11).
There are several requirements for principal place of business and these are the following:
- Registered Address should be in Australia
- PO Box is not allowed
Requirements for entering the principal place of business is the same as with registered office.
Here is a sample of a complete and valid form for Addresses:
When user clicks Next Step button, it will be redirected to Office Holders / Directors page. User can also access previous page by clicking the specific name in the tab or can simply click “Back to previous page”. User has also the option to save the current form by clicking Save and Complete Later link. Saved forms can be accessed using Saved Documents link from the Main Menu
Directors and secretaries are known as the officeholders of the company. A proprietary company must have a minimum of 1 director (3 for public companies) and must reside in Australia.
For each officeholder, user will need to provide the following information:
- Given and family name (middle name if applicable)
- Date of birth
- Place of birth and
- Residential address
A proprietary company must have a minimum of 1 director (3 for public companies) and must reside in Australia (as per Corporations Act of 2001 Section 201A).
The following are the requirements to be a director (as per Corporations Act of 2001 1.5.5):
- Must be at least 18 years old
- Must reside in Australia (for sole proprietorship)
- Must give consent in writing that he/she accepts to be a director of the company
Appointing a secretary is optional. But user can appoint 1 or more secretary (as per Corporations Act of 2001 Section 204A).
A director can be appointed also as a secretary at the same time (as per Corporations Act of 2001 Section 1.5.5).
The following are the requirements to be a secretary (as per Corporations Act of 2001 1.5.5):
- Must be at least 18 years old
- Must reside in Australia (if company has only 1 company secretary)
- Must give consent in writing that he/she accepts to be a secretary of the company
1.1 Officeholder Name
1.2 Former Name
Former name field is optional and can be leave blank. User should provide full name (first and last name). When user input either first or last name only, the field will be highlighted.
1.3 Residential Address
User can input the address manually. Below are the requirements for officeholder’s address:
- Officeholders are not allowed to use PO Box address
- Officeholders cannot use an overseas address unless there’s another director with an Australian address
- Officeholders cannot use suppressed address. Alternate address needs to be provided.
- Officeholders cannot use an address with Level.
1.4 Date of Birth
User can manually input the date of birth. Officeholder must be at least 18 years old.
1.5 City of Birth
City is the suburb and is only required if born in Australia.
1.6 State or Country of Birth
User can manually input the data.
- If born in Australia, user needs to provide the state and not the country of birth.
- Only if the officeholder is born overseas that user will need to input the country. User should follow what is indicated in the ISO 3166.
1.7 Officeholder Role
There are 3 options the user can choose from and these are the following:
- Director & Secretary
1.8Consent to be an Officeholder
A template can be downloaded by the user if they will need the officeholders to sign a Consent to Act as an Officeholder.
A user can add several officeholders by clicking on “Add one more Officeholder”.
Here is the sample complete and valid form for Office Holder / Director:
Shareholders are also known as members. They are the owner of the company.
A member of a company can be:
- An individual
- A Company/Body Corporate (eg. The ABC Pty Ltd) or a
- Body Politic (eg. State of Queensland)
A member is an entity that can own property, sue or be sued. A business name is not a legal entity and therefore cannot be a member. Estates and trusts cannot hold shares in their own right – they must nominate an executor or a trustee.
There is no specified minimum age requirement to become a member of a company stated in the Corporations Act of 2001. However, the company itself can make its own determination regarding the minimum age requirement.
All companies must have at least one member. Proprietary companies must have no more than fifty members that aren’t employees of the company. There is no limit on the number of members of a public company. ASIC may apply to a court to have a company wound up if it does not have any members.
ASIC only record the first 20 shareholders.
There are 2 types of shares that user can choose in the Shareholder tab and these are the following:
User can manually enter the ACN.
1.2 Company Name
Company name will automatically be pre-filled when user added the ACN first.
If the company is an overseas company, user should tick the checkbox below the company name. This will disable the ACN field and will be replaced by the ARBN field, which is optional.
1.3 Registered Address
User will be able to manually enter the address. There are several requirements for Registered Address and these are the following:
- Registered address should be in Australia (unless it is an overseas company)
- Corporate shareholders are not allowed to use PO Box address
1.4 Directors Name
User can manually add the name of the director of the corporate shareholder
1.5 Directors Residential Address
User can manually enter the residential address of the director of the corporate shareholder.
To add one more Director for the corporate shareholder, user can select Yes using the dropdown menu “Add Director?”. By selecting yes, a new set of Director field will be displayed.
1.6 Is this Sole Director also the Secretary?
If user select No from the drop down, another field will be added which will require the user to add the name of the secretary of the corporate shareholder.
1.7 Has this Shareholder consented to be a member of the company?
User can use from the drop down, Yes or No.
2.1 First Name
User will be able to manually input the first name.
2.2 Middle Name
User will be able to manually input the middle name.
2.3 Last Name
User will be able to manually input the last name.
2.4 Residential Address
User can manually input the details. Several conditions apply for the residential address for individual shareholders:
- PO Box is allowed for individual shareholder.
- Overseas is allowed for both corporate and individual shareholder.
2.5 Add Joint Shareholder
NOTE : Users can add multiple joint shareholders. Can be a combination of individual and corporate, 2 corporate or 2 or more individual. However, the portal does not support yet this combination of joint shareholders. User can only do joint individual shareholder.
User can select from the drop-down menu. By selecting Yes, new set of shareholder fields will be displayed. User can add more than 2 joint shareholders.
2.6 Has this Shareholder consented to be a member of the Company?
User can choose from the drop down, Yes or No.
If No is selected from the drop down, the field will be highlighted in red and user will not be able to continue. A shareholder should sign a written consent. The consent does not need to be forwarded to ASIC but needs to be kept for record purposes.
3.1 Share Class
A company may issue different types of share class. The share class distinghes between the different rights that maybe assigned to different shares.
Most proprietary companies issue Ordinary Shares.
3.2 Total Number of Share Class
User can enter the number of shares manually. The number of shares the company issues represents the company’s capital.
The number and price of shares will be determined by the amount of capital needed by the company.
One shareholder can have several classes of shares with different number of shares with different number of shares and price per share for each class. Company can issue shares valued at $0 per share.
3.3 Total Number of Share Class
Shares can be beneficially held or non-beneficially held.
- Beneficial Owning – means that shareholder owns the shares and gets the direct benefit from the shares.
- Non-Beneficial Owning – shares are held by a person or entity on behalf of a trust, SMSF or another entity.
Here is the sample complete and valid form for Shareholder: