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What is the cost for a new company registration? |
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What are company registration costs?
You can register your new company using any of the business service
providers that deal directly with the
Australian Securities and Investments Commission (ASIC). These
providers are online and their websites utilize software that is readily connected to the ASIC.
The best sites are one‐stop centers with a comprehensive line‐up of
services to support start‐up companies
from name reservation and company registration to website development
and accounting services. These
business providers may also connect you to resources of the Australian
Tax Office, the Australian Business
Register and IP Australia.
But before you rush to the first website you see, you may wish to know
how much it will cost to register your
new proprietary company. Since the Australian Securities and
Investments Commission (ASIC) is the primary
regulatory agency for companies, you will have to pay some fees to
ASIC, such as:
Name reservation fee
If you’re not ready to officially file the Form 201 required
for registration, it’s a good idea to reserve your
proposed company name to prevent it from being snapped up by someone
else in the meantime. The
reservation fee is $40 and is good for two months. After that, but
before the expiration of the 2 months, if you
wish to extend the reservation period, you can apply to ASIC for an
extension. If an extension is granted, you
will need to pay a reservation fee of $40 for the extended period
(another two months).
ASIC lodgement fee
A uniform rate of $400 is charged by ASIC at the time of filing Form
201 for the registration of a company. If
you choose to register your new company with the help of a business
service provider, then this amount is
normally included in your provider’s registration package.
If you choose to register your new company by yourself, then you must
submit your application for
registration, together with the payment of the lodgement fee of $400. A
receipt for this will only be issued by
ASIC if requested.
Service provider fee
While anyone can lodge an application for company registration directly
with ASIC, an experienced ASIC
accredited business service provider can do the same for you with ease,
in a relatively short period of time.
This leaves you free to concentrate on the business of your business.
If you lodge your application for
registration using the website of a business service provider, a
service fee is charged for the use of the
provider’s website and online facilities. While the service
fees are not uniform, you may expect to pay
anywhere from $130 to $170 for the basic company registration package.
Always ensure that the service
provider has been accredited by ASIC.
Shareholding
While this is not an amount to be paid to ASIC, you will need to commit
some money to fund the initial capital
of your company. A ‘proprietary’ company that is
‘limited’ is required to issue shares to its
shareholders. Details of shareholdings, such as shareholder names, along with their paid and
unpaid amounts, must be specified in the Form 201 (company registration application). So if you are also a
shareholder of the company you wish to register, you may have to buy some shares in that company. For more information, visit the company registration FAQ page.
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