Home – New Forums Starting your journey ASIC – Principal place of business

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  • #986848
    bettina
    Member
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    Hi guys!

    I’m a newbie to the forum and currently in the progress of registering my company and I have hit a bit of a wall.

    So it’s going to be a delivery business, and majority of the work will be done on the road (collecting items and taking them to the businesses) with the admin stuff mainly being done at home.

    A company would be the best structure for me and for the sake of image (business to business sales) I have paid for a virtual address. Now, would I just use the virtual address for the registered company address, or would it also be for the principal place of business?

    Upon reading some old threads here, I understand ASIC is publishing these addresses online? I may be wrong (I think the big thread was from 2012) but it is a little concerning (not so much for safety, but for image). For this reason would I be able to leave the virtual address for both?

    And if so, do I say the company occupies the registered address (virtual address) or should I say it doesn’t and I have permission to use it?

    Hopefully this all makes sense and I haven’t rambled too much! Thanks in advance :)

    B

    #1159876
    bjmyers
    Participant
    • Total posts: 17
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    Hi Bettina,

    The registered address of a company is the address ASIC and other organisations use to when sending official correspondence. Usually your accountant will use their office as the registered address to provide privacy as well as part of an overall corporate secretarial service.

    The principal place of business is the address at which you are trading. It must be a physical street address, not a PO Box. Check with your virtual office provider to see what their policy is on using the address with ASIC. Most say their addresses are accepted by ASIC, but better to double check.

    In the freely available public register, only the city, state and postcode of the registered office is shown. However, anyone can purchase a company extract or copy of any lodged document that will show the full address details of both the registered office and place of business as well as name and address details of the shareholders and directors.

    Hope this is useful to you.

    #1159877
    Dave Gillen – Former FS Concierge
    Keymaster
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    Hi Bettina,

    Welcome to Flying Solo!

    Great to see you’re getting some advice already, and I hope we’ll be seeing you around regularly. :)

    Best of luck with your new venture.

    Dave

    #1159878
    Grant Mason
    Member
    • Total posts: 26
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    Hello Bettina.

    Use a virtual address as both the registered company address and the principal place of business. The rules are if you are a home based business you may nominate an alternate address for your “Principal Place of Business.” If you are a company with a commercial premise ASIC generally does not allow nomination of an alternate address for the Principal Place of Business.

    You may call ASIC if you have further questions.

    I imagine Gordon Executive Centre offers a better price for a virtual office address. It is not to late to switch.

    Regards, Grant Mason
    Gordon Executive Centre
    http://www.GECentre.com.au

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