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  • #1000573
    ccastell88
    Participant
    • Total posts: 15

    Hey guys,

    We currently have two websites as a sole trader and I want to set up a company structure to legally protect myself and to have a 50/50 split with my partner.

    We’re thinking of using: Company123 https://company123.com.au/

    Which charges $546.00 to set up, is this a good way to set a company via a third party like this, or better to setup directly with Asic?

    Thanks,
    Chris

    #1224827
    bb1
    Participant
    • Total posts: 4,485
    ccastell88, post: 271993, member: 48167 wrote:
    Hey guys,

    We currently have two websites as a sole trader and I want to set up a company structure to legally protect myself and to have a 50/50 split with my partner.

    We’re thinking of using: Company123 https://company123.com.au/

    Which charges $546.00 to set up, is this a good way to set a company via a third party like this, or better to setup directly with Asic?

    Thanks,
    Chris

    Depends how competent you feel doing it yourself or using a business such as that website. But also do you need accounting advise to determine if the structure you are thinking off is most suitable for your circumstance.

    My suggestion here is talk to an accountant first to see if your planned structure is most suitable to your requirements

    #1224828
    Corey
    Member
    • Total posts: 568

    Registering a company | ASIC – Australian Securities and Investments Commission

    Get all the information you need about managing your business name or company. ASIC’s website has helpful videos and tips to guide you through every step.

    Cheers
    Corey

    #1227603
    PaulHypePage
    Participant
    • Total posts: 1

    Hi,

    If you are familiar with the regulations and procedure, you can proceed to incorporate the company by yourself.

    However, many people are not familiar with the business registration process. To prevent any delay or hassle, you can look into engaging a professional service provider. They have experience and resources to facilitate the incorporation process which makes things easier for new business owners!

    If you need any further clarifications about setting up a business in Australia or assistance with setting up your company, we are happy to help! 🙂

    #1227623
    James Millar
    Participant
    • Total posts: 1,702

    Registering with ASIC direct does not provide you with any company constitution documents. You may encounter problems with the bank getting finance (even personal finance as a director search will show up) because they often ask for these documents. Without a separate constitution, you are likely relying on the very limited set of governing measures in the Corporations Act referred to as “replaceable rules”. At the very least I would recommend paying the extra $100 and using a third-party service that provides you with these documents. Even better consider seeing an accountant to make sure a company is the best option.

    Helping build better businesses and better lives with expert financial and taxation advice. info@360partners.com.au www.360partners.com.au 03 9005 4900
Viewing 5 posts - 1 through 5 (of 5 total)
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