In this article, we will talk about “HOW TO REGISTER A BUSINESS/COMPANY NAME IN NEW SOUTH WALES”. Previously, we discussed about “How to register a company in Jamaica”
How to register a company name in New South Wales
- 1 How to register a company name in New South Wales
- 2 Steps for How to register a Company name in New South Wales
- 3 HOW MUCH DOES IT COST TO REGISTER A BUSINESS NAME IN NSW?
- 4 How long does registration take?
- 5 WHAT HAPPENS IF THE BUSINESS OR COMPANY NAME IS REGISTERED IN ANOTHER STATE OR TERRITORY?
- 6 WHAT HAPPENS WHEN YOU HAVE MULTIPLE BUSINESS NAMES?
- 7 Business Registration Service
- 8 WHAT IS AN ACN?
- 9 WHO NEEDS AN ACN?
- 10 HOW DO I REGISTER FOR AND ACN?
You can register a business name online through the Australian Securities and Investment Commission (ASIC) Connect online at the official website of the commission: www.asic.gov.au
Steps for How to register a Company name in New South Wales
For a step by step guide on how to register a business name, read our how to register a business name below:
To register your business name in New South Wales has been made easy for you to have your business ideas come to fruition.
- Go to ASIC Connect and log in to your account. If you don’t have an ASIC Connect account, find out the steps to register.
If you’re logging in for the first time, make sure you say ‘No,’ you don’t have a current business. You don’t need an ASIC key to register.
- Select the Licences and Registrations tab at the top of the ASIC Connect page.
- Select you would like to register a business name from the drop-down box.
- Read the information and tick the boxes. Select ‘Get started.’
- You must have an Australian Business Number (ABN) or have applied for an ABN to register a business name. Select the relevant ABN option, enter your ABN, and select ‘Next.’ You must enter your ABN without any spaces.
- Enter the proposed business name exactly as you would like it to appear on our register. Business names are case sensitive.
- Select the registration period.
- Enter the proposed business name holder details.
- Enter the addresses of the proposed business name.
- Confirm the eligibility to hold the proposed business name.
- Review your application. Make sure your business name is spelt correctly.
- Complete your declarations.
- Make your payment.
If you do not pay within ten days, your application will be canceled, and you will need to reapply.
Once your business name is registered, you will receive a record of registration.
If you choose to pay for your business name registration via invoice, ASIC will email it to you within 48 hours. You must pay within ten business days.
HOW MUCH DOES IT COST TO REGISTER A BUSINESS NAME IN NSW?
The fees to register your business name with ASIC are:
1. $36 for one year
2. $84 for three years.
Payment is accepted through the Business Registration Service when you register for a business name.
How long does registration take?
A business name registration should take you around 12 minutes to complete online. If you have an ABN, have provided all the required documents, and paid the fee, you should get the confirmation in:
- two business days for payment by credit card,
2. up to five business days for payment made by BPay, EFT or Bank Transfer.
ASIC will notify you two months before your business name is due for renewal.
WHAT HAPPENS IF THE BUSINESS OR COMPANY NAME IS REGISTERED IN ANOTHER STATE OR TERRITORY?
Registration of your business name applies nationally, so you do not need to register across different states and territories.
If you previously registered your business name in more than one state or territory, all your business names have been transferred to ASIC’s national business names register. Any of these names can be used to carry on business nationally. You may choose to keep one business name record (e.g., the one with the latest registration expiry) and allow your remaining business names to lapse by not paying the renewal fee.
If your business had an identical name as another business operating in another state or territory, ASIC would provide additional information on the public register to differentiate affected businesses. It may be the state or territory your business name was first registered. This identifier does not form part of your business name but is used to allow people to distinguish between identical business names on the public register.
WHAT HAPPENS WHEN YOU HAVE MULTIPLE BUSINESS NAMES?
If you have multiple different business names, or also have a registered company, you are now able to align the renewal dates for those registrations. If you have multiple principal places of business across New South Wales, ASIC will notify you of which address it intends to use as the principal place of business for sending documents. You may nominate an alternative address for service through ASIC.
TO REGISTER A COMPANY…
You can apply for a company name and other key business registrations using one form on the Business Registration Service (BRS).
Business Registration Service
The Business Registration Service is available for:
- New businesses starting as a sole trader, joint venture, company, trust, partnership or superannuation fund who can apply for a business name, Australian Business Number (ABN), company and tax registrations.
2. Existing companies with an ABN, who can apply for tax registrations or an AUSkey login.
WHAT IS AN ACN?
An ACN is AUSTRALIAN COMPANY NUMBER. It is a unique nine-digit number that every company in Australia has. ACNs are managed by the Australian Securities & Investments Commission (ASIC).
WHO NEEDS AN ACN?
If your business is a company, then you’ll need an ACN. By law, an ACN must be shown on some documents, including:
- accounting statements, such as invoices
2. any documents you lodge with ASIC
3.receipts (if they’re not machine generated, e.g., from a cash register)
4. orders for products and services
5. business letterheads
6. official company notices.
7. cheque, or any documents that represent a legal amount of payment.
8. written ads are making a specific offer that can be accepted (such as by completing an order form).
If your company also registers for an ABN, then your ACN will form part of your ABN. In these cases, you won’t need to display your ACN if your documents already display your ABN and company name.
HOW DO I REGISTER FOR AND ACN?
You are automatically given an ACN when you register a company.
Hurry! Business minded folks. What are you waiting? Register and do business in NSW with ease. GOOD LUCK.