How to Register Your Business with ASIC: A Step-by-Step Guide
- Marketing Manager
- 22 minutes ago
- 3 min read
If you're ready to take your business to the next level in Australia, registering with the Australian Securities and Investments Commission (ASIC) is a crucial milestone. Whether you're a freelancer transforming into a company, a small business owner expanding your operations, or an entrepreneur who wants stronger legal protection—this guide breaks everything down clearly and simply.
Here’s exactly what you need to do, what documents you need to prepare, and how to avoid the most common registration mistakes.
Why Register with ASIC?
A legally recognised structure
Becoming a company (Pty Ltd) gives your business a separate legal identity.
Greater credibility
Clients and partners trust registered companies more.
Asset protection
Your personal assets are typically protected from business liabilities.
Stronger branding
Registering your company name ensures no one else can use it.
If you're serious about growing your business—ASIC registration is a powerful next step.
Step 1: Decide If a Company Structure Is Right for You
Before registering, determine whether a company is the right structure.
Common indicators it is:
You want to limit your personal liability
You’re scaling beyond sole trader capacity
You’re hiring staff or subcontractors
You're seeking investors
You want long-term tax flexibility (e.g., lower company tax rate)
If you’re unsure, speak with an accountant—choosing the wrong structure can be costly.
Step 2: Choose and Check Your Company Name
Before you register, you must select a business name that:
Is not already taken Search here: 👉 https://connectonline.asic.gov.au/
Is appropriate (No restricted or offensive terms)
Does not infringe trademarks Search trademarks: 👉 https://search.ipaustralia.gov.au/trademarks/search/
Is future-proof Consider matching social media handles and domain names.
If you're not ready to register now, you can reserve your company name with ASIC for 2 months (small fee applies).
Step 3: Decide on Your Business Rules (Constitution or Replaceable Rules)
You must choose one:
Option A: Use Replaceable Rules
These are default rules under the Corporations Act. Best for simple companies.
Option B: Create a Company Constitution
Customised rules written by the company. Best for multi-director or growing businesses.
If you’re unsure, your accountant or ASIC agent can guide you.
Step 4: Appoint Key Roles
You must appoint:
A Director – responsible for running the company
A Secretary (optional) – handles compliance
A Shareholder – owns shares
A Registered Office – physical address for official mail
If you're a small business, you can be all of these roles.
Important: Every director needs a Director ID before company registration.Apply here (ATO):👉 https://www.abrs.gov.au/director-identification-number
Step 5: Decide on Your Share Structure
ASIC will ask you for details such as:
How many shares your company has
How much each share costs
Who owns which shares
Typical small businesses issue 100 shares at $1 each. (This is not financial advice—your accountant can set it up correctly based on your goals.)
Step 6: Register Your Company with ASIC
You can register in two ways:
Option 1: Register directly with ASIC
Option 2: Register using a private service provider
(Recommended for accuracy and convenience) These services help ensure forms are completed correctly and avoid errors.
Once complete, you will receive:
ACN (Australian Company Number)
Certificate of Registration
ASIC login access
Step 7: Register Your Business for ABN, GST & PAYG
After your ASIC registration, you must also:
Apply for an ABN (Australian Business Number)
Register for GST if your turnover is $75,000+
(Often also recommended for companies even below this threshold)
Register for PAYG Withholding
If you plan to hire employees or pay yourself a salary.
Step 8: Set Up Your Business Bank Accounts
You must open a separate business bank account to:
Keep personal and business finances separate
Make tax time easier
Maintain ASIC compliance
Avoid legal risks
ASIC expects companies to maintain clear financial records.
Step 9: Keep Up with Ongoing ASIC Obligations
Once you’re registered, you’re responsible for:
Annual ASIC Review Fee
Paid yearly to keep your company active.
Updating Company Details
If directors, addresses, or share structures change.
Maintaining Financial Records
Must be kept for at least 7 years.
Meeting Director Responsibilities
Including acting in the best interest of the company.
Pro Tips to Avoid Common ASIC Mistakes
❌ Using the wrong business structure
❌ Forgetting to apply for a Director ID
❌ Registering without understanding share structure
❌ Missing the annual review fee and being penalised
❌ Not updating ASIC after changes (e.g., address, directors)
Want Help Reviewing Your ASIC Setup? (Free Review)
📌 Damian suggested this as an opportunity: If you’re unsure whether your business is registered correctly or want a quick check to avoid penalties—we can review your ASIC setup for free.
Just book a call and we’ll look over:
Company name
Structure
ABN/GST details
Director ID
Ongoing obligations
Useful ASIC & ATO Links (Reference)
ASIC Company Registration: https://asic.gov.au/
Name Availability Search: https://connectonline.asic.gov.au/
Director ID Application (ATO): https://www.abrs.gov.au/director-identification-number
Trademark Search (IP Australia): https://search.ipaustralia.gov.au/trademarks/search/
ABN Registration: https://abr.gov.au/
PAYG & GST info: https://www.ato.gov.au/Business/
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