Register your new business name.
**How to Open a Company in Australia: A Comprehensive Guide**
Opening a company in Australia can be a complex process, but with the right guidance, you can navigate it efficiently. Here, we will walk you through the steps to open a company in Australia, highlighting the key requirements and considerations.
### Step 1: Determine the Type of Company
Before you start the process, you need to decide what type of company you want to register. In Australia, you can register a proprietary company (Pty Ltd), a public company, or a special purpose company. Each type has its own set of rules and regulations, so it is crucial to understand the differences before proceeding.
### Step 2: Choose a Company Name
Choosing a company name is a crucial step in the process. The name must be unique and not already registered to another company or business name. You can check the availability of your proposed company name on ASIC’s check name availability search. If your name is available, you can proceed with the registration process.
### Step 3: Register Your Company
You can register your company through the Australian Government’s Business Registration Service (BRS). The BRS combines several business and tax registrations in one place, making it easier to start a business. You can also choose to register through a private service provider (PSP), such as an accountant or solicitor, who will handle the process for you.
### Step 4: Obtain an Australian Business Number (ABN)
Once your company is registered, you need to apply for an Australian Business Number (ABN). The ABN is a unique 11-digit identification number that enables businesses in Australia to deal with government departments and agencies. You can apply for an ABN through the Australian Business Register (ABR).
### Step 5: Register for Tax and Other Requirements
After obtaining your ABN, you need to register for tax and other requirements. This includes registering for Goods and Services Tax (GST) if your GST turnover meets or exceeds the registration turnover threshold of AUD 75,000. You also need to open a business bank account and nominate a Public Officer with the Australian Taxation Office (ATO).
### Conclusion
Opening a company in Australia involves several steps, from determining the type of company to registering for tax and other requirements. By following these steps and understanding the key requirements, you can successfully open a company in Australia.
**Best Practice: Register Your Business Name**
Before you start your business, it is essential to register your business name. You can register your business name through “register.biz.au” and ensure that it is available for use. This will help you avoid any potential issues with your business name and ensure that you can operate your business smoothly.
