What is a company?

Operating your business as an incorporated entity such as a proprietary limited (Pty Ltd) company will transform your enterprise into a separate legal entity. This means it has the same rights as a natural person and can incur debt, sue and be sued.

By Richard Chatten-Hague

The company’s owners (called ‘members’ or ‘shareholders’) can limit their personal liability and are generally not liable for company debts (unless they give personal guarantees to borrow money).

Companies are managed by company officers who are called directors and company secretaries, and companies are taxed at a different rate to individuals and other structures.

Companies must be registered with ASIC, and company officeholders have legal obligations under the Corporations Act.

At ABN Australia, we have significant experience in managing the needs of international businesses looking to establish a company in Australia - ranging from large international listed businesses right through to smaller enterprises looking to set up a regional sales or administrative office.

Should you be looking to incorporate a company in Australia, contact our friendly and professional team today.

Published: 12th July 2023