What is a "Shelf Company" ?

It is in fact a company that we have already incorporated with our choice of name basically sitting on the shelf, so to speak, waiting for someone to buy it. Most people prefer us to incorporate a company for them using their preferred name but some people prefer ours as we do put some thought into their naming, it is instantaneous at no extra charge, with the ACN known then and there.

What if I want my own name?

As we mention above, most people prefer their own name, the cost is the same and we do a search on the name(s) you request at no extra charge. The name cannot be identical to an existing company name or Registered Business Name, unless you own that business name in every State in which it is registered.

Can I incorporate a Company identical to my existing Registered Business Name?

Yes, providing the ownership of the proposed company is exactly the same as your existing registered business name and providing that business name has not been registered by someone else in another State or Territory of Australia.

What protection does a Company name give me as compared to a Registered Business Name?

Once you have incorporated a company in Australia no one else can incorporate a company or register a business name in any State or Territory of Australia using that exact name. By registering a business name in a State or Territory of Australia you will protect that name in that State or Territory as far as a business name is concerned and prevent a company being incorporated under that name but it will not stop the registration of that business name by another person in another State or Territory of Australia.

What is the difference between an ACN and an ABN?

The Australian Company Number ("ACN") is the number allocated by the Australian Securities & Investments Commission ("ASIC") upon the incorporation (registration) of the company. It is printed on the Certificate of Registration that the ASIC provides at the time. It consists of nine numbers spaced in threes.

The Australian Business Number ("ABN") is the number allocated to the company by the Australian Taxation Office ("ATO") upon application. It must be printed on all Tax Invoices where GST is being charged.

(Shelfcom provides ABN application forms with its package for you to use or you may wish Shelfcom to do so for you at a charge of $220.00)

The number consists of the nine numbers of the ACN with two extra numbers in front.

What is a Common Seal and do I need one?

A Common Seal is usually a rubber stamp, bearing the company's name and its ACN and the words 'Common Seal'. The Common Seal was used to execute Deeds and other legal documents by a company. However since 1 July 1998 a company is not required to execute a document under a Common Seal (Some older companies are still required to do so under the terms of their Memorandum and Articles of Association/Constitution) and our standard Constitution provides for the company itself to decide whether or not it wants to adopt a Common Seal, and it if does, whether or not it will use it in given situations. (A Common Seal is provided by us however, at no extra charge).

Can I only have only one Director and one Shareholder?

Yes you can. Since 1 July 1998 the Corporations Law (now the Companies Act, 2001) allows a company to have one director and one shareholder both being the same person if desired.

Abacus provide an upgrade service for older companies to adopt a modern Constitution to provide for single director, single shareholder companies, to give such companies the option of using a Common Seal or not etc (see our section on our Constitution for other features). We also, as part of this service, provide the documentation to resign directors and transfer shares.