Registering a company with the Australian Securities and Investments Commission (ASIC) takes about 15 minutes online and costs $611 for a standard proprietary limited company (the fee is indexed annually on 1 July; from 1 July 2026 it rises to $636). You apply through the ASIC Business Registration Service or a registered agent, receive an Australian Company Number (ACN) immediately, and must notify ASIC of any changes within 28 days of them occurring.
What type of company do most small businesses register?
The overwhelming majority of Australian small businesses incorporate as a proprietary limited company — Pty Ltd. The Corporations Act 2001 (Cth) s 45A defines a proprietary company as one with no more than 50 non-employee shareholders and which does not engage in large fundraising to the public. The liability of shareholders is capped at any unpaid amount on their shares, which is why founders choose this structure.
Public companies, unlimited companies, and no-liability companies exist but serve different purposes — mining ventures often use NL, charities may use a company limited by guarantee. For a standard trading business, Pty Ltd is almost always right.
Check the name before anything else
ASIC maintains a national register. A name must not be identical or too similar to an already-registered company, business name, or trademark. Run a free search on the ASIC Connect portal before you proceed — the system checks in real time and rejects duplicates at lodgement. A name that passes the ASIC register search can still face challenge from a trademark owner under the Trade Marks Act 1995 (Cth), so run a parallel check on IP Australia's trade mark search tool.
Reserved names, such as those containing "bank", "trust", "royal", or "government", need additional approvals under the Corporations Regulations 2001, reg 2B.6.02. Adding "Australia" or "Australian" at the start of a name triggers scrutiny about whether the name implies a national connection the company does not have.
Gather the information ASIC requires
Before you start the online form, have these details ready:
Registered office address. The company must have an Australian registered office at all times — not a P.O. box. Under Corporations Act s 142(1), you can use the address of a registered agent or accountant if the occupier consents in writing. The registered office is where ASIC serves legal documents and where the company register must be kept or accessible.
Principal place of business. If this differs from the registered office, you provide it separately. Most small companies list both as the same address.
Director and secretary details. Every proprietary company needs at least one director who ordinarily resides in Australia (s 201A(1)). Each director and the company secretary (if you appoint one — a Pty Ltd is not required to have a secretary under s 204A) must provide their full legal name, residential address, date of birth, and place of birth. ASIC uses this to issue a director identification number (Director ID) under the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 — every director must have a Director ID before being appointed, not after.
Shareholder details. You need the full name and address of each member, the number and class of shares, and whether any shares are partly paid.
Share structure. Decide whether shares carry voting rights, dividend rights, and rights on winding up. Ordinary shares do all three; you can also create separate classes if investors want preferential dividends or voting weight. Get this right at incorporation — amending share classes after the fact requires a special resolution and ASIC notification.
Director IDs: get these before you start
Since 5 April 2022, every director must hold a Director ID issued by the Australian Business Registry Services (ABRS). The application is free and takes about five minutes if the director has a myGovID account linked to their tax file number, ABN, and bank records. Without a Director ID, ASIC will reject the company application. Getting one without a myGovID takes up to 28 days through a paper process, so sort this early.
Lodge the application
Go to the ASIC Business Registration Service (register.business.gov.au). The form walks through company type, name, registered office, directors, secretary, and share structure. Payment of the current ASIC registration fee is by credit card at the end.
ASIC issues the ACN in real time on approval. Print or save the company extract immediately — it shows the ACN, registered office, officers, and date of registration. The company comes into existence the moment the certificate of registration is issued under Corporations Act s 119.
If you use a registered agent or company formation service, they lodge the same information under their own ASIC credentials. They may charge an additional service fee on top of the ASIC fee.
Set up an ABN and GST registration
An ACN is not an ABN. An Australian Business Number is a separate 11-digit identifier used for tax, invoicing, and dealings with the ATO. Apply for an ABN through the ABR (abr.gov.au) — free, takes five minutes, and can be done simultaneously with or just after ASIC registration.
If the company expects annual turnover of $75,000 or more, register for GST under the A New Tax System (Goods and Services Tax) Act 1999 (Cth) s 23-5. Voluntary GST registration below the threshold is common if the company wants to claim input tax credits. Registering for Pay As You Go withholding is required as soon as you hire employees.
Prepare a constitution or rely on replaceable rules
The Corporations Act 2001 Part 2B.4 contains a set of "replaceable rules" that automatically govern a company unless displaced by a constitution. For a simple single-director, single-shareholder company, the replaceable rules are fine. For anything with multiple shareholders, outside investors, or complex voting arrangements, a tailored articles of association (Australia) sets out share rights, meeting procedures, director appointment and removal, dividend policy, and dispute resolution in one place.
A constitution adopted at registration is stamped into the company's public record. Amending it later requires a special resolution (passed by 75% of voting shares) under s 136 of the Corporations Act. The 14-day ASIC lodgement obligation in s 136(5) applies to public companies; a standard proprietary company is not required to lodge an amended constitution with ASIC, but should keep a current copy in its company records. Drafting the constitution properly at the start is easier than undoing a bad clause after a shareholder dispute.
Open a company bank account
Most Australian banks require the certificate of registration, ACN, and certified identification for each director and beneficial owner. Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), banks must verify the identity of directors and anyone holding more than 25% of shares before opening an account.
Some fintechs (Airwallex, Zeller, Wise Business) have faster onboarding than the majors but fewer credit facilities. Pick based on your transaction volume and whether you need a merchant facility.
Annual obligations after registration
Registration is day one, not the finish line. ASIC charges annual review fees — $329 for a proprietary company in 2025-26, rising to $342 from 1 July 2026 — and sends a review notice to the registered office each year. Non-payment leads to deregistration.
A company must keep financial records that correctly record and explain its transactions under s 286. A small proprietary company controlled by shareholders is generally exempt from lodging annual financial statements with ASIC unless at least one shareholder representing 5% of votes makes a formal request under s 293. From the moment you incorporate, keep your register of members, minutes of meetings, and financial records in order. These are not optional — ASIC and courts treat them as evidence of how the company was managed.
Timetable from decision to operating
- Day 1: confirm Director IDs, run name search, choose share structure
- Day 1–2: lodge ASIC application online ($611–$636 depending on date), receive ACN
- Day 2: apply for ABN, register for GST and PAYG if needed
- Day 2–5: open bank account
- Day 1–30: adopt constitution or confirm replaceable rules apply
- Before first trade: obtain an ABN invoice number, set up accounting software, check whether your industry needs a state-issued licence or permit
The whole process from decision to first invoice can be completed in under a week if director identification is already in order. The forms-legal.com document library at forms-legal.com has free Australian corporate templates, including a ready-to-customise articles of association, that cut the drafting time significantly.
Common errors that create problems later
Not maintaining a current registered office is the most frequent infraction. When ASIC cannot serve notices, it moves toward deregistration. Second most common: appointing directors who do not yet have a Director ID, which was not an offence before 2022 but now carries civil penalties up to $19,800 (60 penalty units at the current Commonwealth rate of $330 per unit).
A third error is treating the share structure as a formality. Allocating 50% each to two founders with no deadlock mechanism, no pre-emptive rights clause, and no buy-sell provision in the constitution creates a textbook dispute waiting to happen. The replaceable rules do not contain a deadlock resolution mechanism — that belongs in a shareholders' agreement or the constitution. Draft these at the start.
Need the document itself? Download the free template →
This article is general information, not legal advice — see our accuracy & editorial policy. Confirm the cited law is current before relying on it.