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Frequently Asked Questions

 

 

Q) What is PTY Limited Company?

 

  1. you can have 1 – 25 Directors
  2. you can have up to 50 Members (Shareholders)
  3. the Corporations Act states that you must have at least 1 Director and Secretary (if you appoint one) who ordinarily resides in Australia
  4. directors must be over 18 years of age
  5. the shares in a company can be totally foreign owned
  6. the company’s Registered Office Address and Principal Place of Business must be an Australian address
  7. your company is presented in a leather look binder, including bound Constitutions, indices and full registers
  8. please call our office for any further information required. Ph: 3229 8311

 

PTY LTD Company (when ordered by Professionals Firms such as Solicitors, Accountants, Tax Agents) Download Form
PTY LTD Company (when ordered by Professionals Firms such as Solicitors, Accountants, Tax Agents) Online Order Form
PTY LTD Company (when ordered by Private Individuals, General Public) Download Form

 

 

Q) What is PUBLIC Company (Unlisted)?

 

  1. you must have a minimum of 3 Directors
  2. you must have a minimum of 1 Member (Shareholder)
  3. the Constitution for the company is lodged with ASIC (Australian Securities & Investments Commission) for their approval upon registration. We provide a Constitution for these companies, however, they can be amended to suit particular requirements
  4. the Corporations Act states that you must have at least 1 Director and Secretary (if you appoint one) who ordinarily resides in Australia
  5. directors must be over 18 years of age
  6. the shares in a company can be totally foreign owned
  7. the company’s Registered Office Address and Principal Place of Business must be an Australian address
  8. your company is presented in a leather look binder, including bound Constitutions, indices and full registers
  9. please call our office for any further information required. Ph: 3229 8311

 

PUBLIC Company (Limited – unlisted) Download Form

 

 

Q) What is LIMITED by Guarantee Company (Non Profit)?

 

  1. you must have a minimum of 3 Directors
  2. you must have a minimum of 1 Member
  3. the Constitution for the company is lodged with ASIC (Australian Securities & Investments Commission) for their approval upon registration. We provide a Constitution for these companies, however, the “objects” for the company must be drafted and inserted in the Constitution prior to lodgement
  4. the Corporations Act states that you must have at least 1 Director and Secretary (if you appoint one) who ordinarily resides in Australia
  5. directors must be over 18 years of age
  6. the company’s Registered Office Address and Principal Place of Business must be an Australian address
  7. your company is presented in a leather look binder, including bound Constitutions, indices and full registers
  8. please call our office for any further information required. Ph: 3229 8311

 

LIMITED by Guarantee Company (Non Profit) Download Form

 

 

Q) What is SELF MANAGED Super Fund?

 

A superannuation fund is a self managed superannuation fund (SMSF) if it meets the following conditions:

  1. has fewer than 5 members
  2. each individual trustee of the fund is a fund member
  3. each member of the fund is a trustee
  4. no member of the fund is an employee of another member of the fund, unless those members are related
  5. no trustee of the fund receives any remuneration for his or her services as a trustee

 

A SMSF can also have a company as a trustee (known as a corporate trustee) if:

  1. has fewer than 5 members
  2. each individual trustee of the fund is a fund member
  3. each member of the fund is a director of the company
  4. no member is an employee of another member (unless related)
  5. the trustee does not receive remuneration for their services as a trustee

 

Single member funds

It is possible to have an SMSF with only one member.

If the single member fund has a corporate trustee, the member must:

  1. be the sole director of the trustee company; or
  2. be related to the other director of the trustee company and there are only two directors of that company; or
  3. not be an employee of the other director of the trustee company and there are only two directors of that company

 

If the single member fund does not have a corporate trustee, the fund must have two individuals as trustees. The member must be the trustee with:

  1. another person who is a relative of the member, or
  2. any other person provided the member is not an employee of that person
  3. your Self Managed Super Fund is presented in a leather look binder, including bound Deeds, Trustee Guide, ATO Trustee Declaration Form, indices, full registers and Instruction Letter from our Tax Law Expert.
  4. please visit www.ato.gov.au/super for further information or call our office. Ph: 07 3229 8311

 

SELF MANAGED Super Fund Download Form

 

 

Q) What is SELF MANAGED Super Fund – Deed of Variation?

 

 

  1. for upgrading your Deeds for an existing SMSF
  2. your package includes, Deed of Variation, Trustee Guide and Instruction Letter from our Tax Law Expert.
  3. please visit www.ato.gov.au/super for further information or call our office. Ph: 07 3229 8311
SELF MANAGED Super Fund – Deed of Variation Download Form

 

 

Q) What is DISCRETIONARY Family Trust?

 

 

  1. the Settlor of a Discretionary Trust should not be a Trustee or Beneficiary within the Trust
  2. the Settlor and Trustee should be over 18 years old
  3. you can have either a Corporate Trustee (registered company) or Individual/s as Trustee
  4. the Trust name should contain the word “Trust” so that it indentifies which type of legal entity it is
  5. your Trust deeds come completely bound along with an instruction letter from our legal experts
  6. please call our office for any further information required. Ph: 3229 8311

 

DISCRETIONARY Family Trust Download Form

 

 

Q) What is UNIT Trust?

 

 

  1. the Settlor of a Unit Trust should not be a Trustee or Unit holder within the Trust
  2. the Settlor and Trustee should be over 18 years old
  3. you can have either a Corporate Trustee (registered company) or Individual/s as Trustee
  4. the Units and Unit holders will need to be appointed once you have received your Trust Deeds
  5. the Trust name should contain the word “Trust” so that it indentifies which type of legal entity it is
  6. your Trust deeds come completely bound along with an instruction letter from our legal experts
  7. your company is presented in a leather look binder, including bound Constitutions, indices and full registers
  8. please call our office for any further information required. Ph: 3229 8311

 

UNIT Trust Download Form

 

 

Q) What is Supply of CONSTITUTION – Standard Package?

 

A)  You can adopt a new Constitution for many reasons, including:

  1. to upgrade your existing Constitution (eg. to allow your company to become a sole director company)
  2. to replace a lost Constitution
  3. to adopt a Constitution where you might previously have chosen to abide by the Replaceable Rules as set out by ASIC (Australian Securities & Investments Commission)

We offer 2 packages in regards to adopting a Constitution:

  1. for this particular package, we provide 5 copies of the new Constitution
  2. for the Secretarial Package we provide 5 copies of the new Constitution along with the Minutes of Directors, Notice of General Meeting and Minutes of Members
  3. if you have a copy of your certificate of registration, we can insert this in the Constitution
  4. please call our office for any further information required. Ph: 3229 8311

 

Supply of CONSTITUTION – Standard Package Download Form

 

 

Q) What is Supply of CONSTITUTION – Secretarial Package?

 

A)  You can adopt a new Constitution for many reasons, including:

  1. to upgrade your existing Constitution (eg. to allow your company to become a sole director company)
  2. to replace a lost Constitution
  3. to adopt a Constitution where you might previously have chosen to abide by the Replaceable Rules as set out by ASIC (Australian Securities & Investments Commission)

We offer 2 packages in regards to adopting a Constitution:

  1. for this particular package, we provide 5 copies of the new Constitution
  2. for the Secretarial Package we provide 5 copies of the new Constitution along with the Minutes of Directors, Notice of General Meeting and Minutes of Members
  3. if you have a copy of your certificate of registration, we can insert this in the Constitution
  4. please call our office for any further information required. Ph: 3229 8311

 

Supply of CONSTITUTION – Secretarial Package Download Form

 

 

Q) What is CHANGE OF COMPANY NAME?

 

A)

  1. to be requested if you have chosen to change the name of an existing company name
  2. we will complete a Notice of Resolution (Form 205) for you to sign
  3. once we receive the signed Form 205, as an original, we will lodge the form immediately at ASIC (Australian Securities & Investments Commission)
  4. we will then forward your Change of Name Certificate to you
  5. please call our office for any further information required. Ph: 3229 8311

 

Please fax or email your request in writing:- Fax: 07 3221 9982
Email: rapidcompanies@iprimus.com.au		  

 

 

Q) What is DE-REGISTRATION of company (members voluntary)?

 

A) A company can only be voluntarily deregistered under the following conditions:

  1. all members of the company agree to the deregistration; and
  2. the company is not carrying on business; and
  3. the company’s assets are worth less than $1000; and
  4. the company has paid all fees and penalties payable under the Corporations Act 2001; and
  5. the company has no outstanding liabilities; and
  6. the company is not a party to any legal proceedings
  7. we will complete a Voluntary Deregistration of a Company (Form 6010) for you to sign
  8. for this particular package, we also prepare Minutes of Directors, Notice of General Meeting and Minutes of Members
  9. once we receive the signed Form 6010, as an original, we will lodge the form immediately at ASIC (Australian Securities & Investments Commission)
  10. the ASIC approval period is from 2 – 3 months
  11. they will forward their final letter regarding de-registration once the process has been finalised
  12. please call our office for any further information required. Ph: 3229 8311

 

DE-REGISTRATION of company (members voluntary) Download Form

 

 

Q) What is RESERVATION of a Company Name?

 

A)

  1. a proposed company name can be reserved with ASIC (Australian Securities & Investments Commission) for a period of 2 months
  2. if you wish to register a company name with Rapid Companies and you have already reserved the company name yourself, you will have to ring us to that we can advise what needs to be done
  3. please call our office for any further information required. Ph: 3229 8311

 

Please fax or email your request in writing:- Fax: 07 3221 9982
Email: rapidcompanies@iprimus.com.au		  

 

 

Q) What is SECRETARIAL SERVICES?

 

A) We offer a range of Corporate Secretarial Services

  1. these services are usually for the purposes of changing details to your existing company registration; which may include:
  2. appointing a new directors
  3. issuing further shares
  4. changing an officeholder’s name or address
  5. changing the Registered Office of a company
  6. changing the Principal Place of Business for a company

We also offer a range of Searches, including:

  1. current or historical company extracts
  2. personal name extracts
  3. land title searches
  4. BUP and RP searches
  5. please call our office for any further information required. Ph: 3229 8311

 

Please fax or email your request in writing:- Fax: 07 3221 9982
Email: rapidcompanies@iprimus.com.au		  

 

 

Q) How long does it take to have a company registered?

 

A) Once we have received the completed order form and payment (if required), companies are ready for dispatch/collection, usually within 1 hour.

 

 

Q) How do I pay for a company registration?

 

A) All professional firms (i.e. Accountants and Solicitors) will receive an Invoice with their company register, with terms of 7 days. All private individuals are required to pay prior to registration of the company. This can be done by either, direct debit, credit card or electronic transfer. The payment must be cleared funds.
Bank Details/Credit Card Payment Form

 

 

Q) Do I get an ABN (Australian Business Number) or a TFN (Tax File Number) when I register a company?

 

A) No. When a company is registered with the A.S.I.C. (Australian Securities & Investments Commission), it is allocated with an ACN (Australian Company Number). Both ABN’s (Australian Business Numbers) and TFN’s (Tax File Numbers) are allocated through the ATO (Australian Taxation Office). ABN’s and TFN’s must be applied for by the company, on an individual basis.
www.ato.gov.au

 

 

Q) Does my company have to have a Common Seal?

 

A) It is no longer compulsory that companies have a common seal. The law provides that it can be assumed that a document is correctly executed by the company if it is signed by two directors, or a director and secretary, or by a single director where they are the sole officeholder.

 

 

Q) Do I have to have an Australian Residential address to be a Director?

 

A) At least one Director and one Secretary (if Secretary appointed) must have an Australian residential address. The Director and Secretary (if Secretary appointed) can, of course, be the same person. Members (shareholders) do not have to have an Australian Residential address.

 

 

Q) Do I need a Registered Office?

 

A) All companies are required to have a registered office. However, proprietary companies are no longer required to have a registered office that is open to the public. A proprietary company must however, have any statutory registers available to the public for inspection. For this reason, most people use the offices, with their consent, of their Accountants or Solicitors. Companies are required to display their name prominently at every place at which they carry on business and which is open to the public. The sign will no longer be required to be outside the premises. A sign within the premises will be sufficient.

 

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Q) Do I need a Principal Place of Business?

 

A) Every company must have a Principal Place of Business within Australia. That place may also be the company’s registered office. Changes in address of the principal place of business must now be notified to the A.S.I.C.

 

 

Q) Can I convert to a Sole Director/Member company?

 

A) Under the First Corporate Law Simplification Act 1995, companies registered prior to December 12, 1995 can convert to a Sole Director/Member company. The existing directors and members of the company must resolve to repeal their existing Constitution (Memorandum and Articles of Association), and adopt a new Constitution, which allows for these changes. The company can then retire the relevant officeholders accordingly.

 

 

 


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