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Register your Proprietory Private Limited Australia

A Proprietary Private Limited Company in Australia (Pty Ltd) is a type of business entity that offers limited liability to its shareholders, restricts the number of shareholders to 50 non-employee shareholders, and prohibits public fundraising. It is regulated by the Australian Securities and Investments Commission (ASIC).

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Goods and Bads

A Proprietary Private Limited Company is suitable for small to medium-sized businesses that require limited liability protection, plan to raise capital privately, and wish to maintain control over the ownership structure. It is ideal for startups and growing businesses that do not intend to publicly list shares.

Proprietory Private Limited Australia comes with its own pros and cons which is very important for decision making purposes

Advantages

  • Limited liability protection for shareholders
  • Separate legal entity
  • Ability to raise capital privately
  • Enhanced credibility
  • Perpetual succession

Disadvantages

  • Limited to 50 non-employee shareholders
  • Cannot raise funds from the public
  • Higher setup and compliance costs compared to sole proprietorships
  • Regulatory and reporting requirements

Process

Step by Step Process

1
Choose a Company Name

Select a unique name for your company ensuring it is available.

2
Register the Company

Register the company with the Austrailan Government by submitting the necessary forms and documents.

3
Obtain an ACN

Upon registration, obtain an Australian Company Number (ACN).

4
Apply for an ABN

Apply for an Australian Business Number (ABN) from the Australian Business Register (ABR).

5
Register for GST

Register for Goods and Services Tax (GST) if the company's turnover exceeds the threshold.

6
Create a Company Constitution

Prepare a company constitution outlining the rules for managing the company, if the company chooses to adopt one.

7
Set Up a Business Bank Account

Open a business bank account in the company's name for financial transactions.

Tax and Compliances

Following are the Compliances that will be required

Corporate Tax

Proprietary Limited Companies are subject to corporate tax in Australia. The current corporate tax rate is 25% for base rate entities (turnover less than $50 million) and 30% for other entities.

GST Registration

Companies with a turnover of $75,000 or more must register for Goods and Services Tax (GST) and comply with regular GST filings.

Annual Reporting

Proprietary Limited Companies must file annual financial reports with ASIC if they meet certain criteria, such as being a large proprietary company.

PAYG Withholding

Companies must register for Pay As You Go (PAYG) withholding if they employ staff and must comply with payroll tax obligations.

Documents Required

Following are the documents that will be required

Company Constitution

A document outlining the internal management rules of the company (if the company chooses to have one).

Identification Documents

Copies of passports, driver's licenses, or other identification documents of directors and shareholders.

Proof of Address

Utility bills or bank statements showing the address of the directors and the registered office.

Deliverables

The service package includes a comprehensive list of deliverables which includes the following.

Certificate of Incorporation

Australian Company Number (ACN)

Australian Business Number (ABN)

GST Registration Certificate (if applicable)

Company Constitution (if applicable)

Business Bank Account Setup Assistance

Frequently Asked Questions

Answered all frequently asked questions, Still confused? feel free to contact us.

Hear from the Entrepreneurs

Here is a jist of what some of our customers had to say about our services. We tend to work relentlessly to create smoother experiences for the clients.

  • J
    Jalal JC3 Property Store Private Limited

    Wonderfull service in minimum charges. I recommended to who want register your company and need of all official services. Taxkriya is the best choice.

  • K
    Krishna ChaitanyaCognikey Technology Solutions Private Limited

    Taxkriya is a wonderful experience for me they helped me to do smooth process in forming company for me and very friendly persons who takes our inputs and also suggest which is best for us.

  • G
    Ganta Sai AkhilSketchz engineering LLC

    I genuinely recommend Taxkriya and found this as one of the smoothest process in forming an LLC. The support from the team was absolutely good and support from Mr. Gowtham was purely exceptional.