Expert on Company Registration

[LeelaCosgrove]

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Hey everyone!

Can someone recommend an expert on company registration in Melbourne?

I need to register my company, but I have several business ventures and can’t figure out whether I should register a parent company and then just create a bunch of different trading names, or register different companies for each.

I’m guessing that how I register them will have an effect on what happens if I want to sell the companies down the track – but I need expert advice so that I don’t make the wrong guess on something this crucial!

Any recommendations would be greatly appreciated.

[Burgo]

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An experienced Chartered Accountant will give you the answers to your questions. Worth every penny you spend with them. They will taylor you a company to suite your requirements.

Choose someone who has been in business for around twenty years

[LeelaCosgrove]

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Thanks Patrick – that’s what I’m looking for … if anyone can recommend someone good, that would be great.

[Burgo]

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Why not contact the Chartered Accountants Institute in Melbourne, they would have a list of qualified members and you could choose one near to where your business is.

Saves mucking about travelling here there and everwhere and you can get to him/her at anytime.

[Warren Cottis]

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Leela

An accountant in practice (whether Chatered or CPA… there is no difference in reality… trust me…just depends on the person) is going to charge you $1000 plus for each of your companies… they buy them for $1000 from company formation suppliers. So if you have 10 ideas that’s probaby $15,000 which can easily be dead money.

The safest way to go is to have one company with 10 different registered trading names. Some will be winners and some will be dead ducks … when you think you have a winner then your company just relinquishes the name so when your new company is formed it has that name … it is pretty much instantaneous

[todd.heslin]

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Hi Leela,

I recognise many of the issue you mentioned. I started working in one of the big four accounting firms but decided to split and go solo (actually, I do have a business partner…so not entirely solo) before becoming a charted accountant. I don’t think I ever really wanted to be an accountant anyway…

The other helpful members of this forum are correct, a CA or CPA (either would qualified to help) should be able to sort you out, but it comes at a price.

I have had exposure with company registrations and different business structures through my experience with the accounting firm in both the Audit and Corporate Advisory divisions. Although, most of my knowledge has come from registering my own business and reading through the Corporations Act to make sure I wasn’t choosing a rocky road before we got started.

I’m sure I could help answer a few specific questions you have so when you go see an Accountant, you will be able to specifically tell them what you’re looking for, instead of them charging you for a few extra hours for explanation.

I am in Sydney, but feel free to contact me and I’ll share a few points with you.

Warm regards

Todd

[BB]

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Just thought I’d add –

I got my accountant to organise it – they bought a ‘shelf’ company and changed the name. The cost was $400.

Ask for a quote before you proceed!

B.B.

[todd.heslin]

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B.B., post: 2558 wrote:

Just thought I’d add –

I got my accountant to organise it – they bought a ‘shelf’ company and changed the name. The cost was $400.

Ask for a quote before you proceed!

B.B.

B.B,

Question: did this include the full year ASIC fee? or were they just being generous?

Quite simply, the largest cost for starting a Pty Ltd company is the $400 establishment fee with ASIC, then there is a $65 per year ongoing fee (or something close to that). I guess someone could get caught out if they bought a ‘self company’ which has been on the shelf for 9 months or so, and then there are more fees to be paid. It can work well for the accountants, because soloists will tend to think that if they bought the company from them (or they set it up for them), that this means they feel obligated to return for the annual accounting and tax work. Smart move from the local accountant, however I concur that quotes should be obtained first.

Anyone can contact me if they want to pick my brain on this issue, more than happy to help where I can.

Take care

Todd

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