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In Melbourne, Australia, the process of business registration is governed by the Corporations Act 2001, administered by the Australian Securities and Investments Commission (ASIC). This legislation regulates how businesses can be established, how they should operate, and how they can be dissolved. It also outlines the legal requirements for record-keeping, asset management, and the rights and responsibilities of business owners.
While it's feasible for individuals to navigate the process of business registration themselves, there are circumstances where you may need a lawyer. If your business structure is complex, if disagreements arise among founders, or if you are uncertain about the legal implications of your business plan, it's advisable to seek legal advice. Lawyers can also assist in negotiating and drafting contracts, understanding tax obligations, and ensuring compliance with local, state, and federal regulations.
Local laws in Melbourne that relate to business registration encompass zoning and permits requirements, environmental regulations and trading rules. Depending on your type of business and location, there may be specific local laws you need to adhere to. Lawyers familiar with Melbourne local laws can guide you through these and ensure your business starts on the right foot legally speaking.
1. Can I register my business online in Melbourne?
Yes, business registration can typically be done online through the ASIC's website or a registered ASIC agent.
2. How long does it take to register a business?
While timing can vary, online applications are usually processed within 2-5 business days.
3. What is the difference between a business name and a company name?
A business name is simply the name under which you conduct your business, while a company name is a legal title registered with ASIC, under which the company conducts business.
4. What are the general costs associated with business registration?
Initial costs include registering your business name and company with ASIC. Ongoing costs include annual company review fees and potential renewal of business name fees.
5. Can a foreigner register a business in Melbourne?
Yes, foreigners can register a business in Melbourne. However, specific legal restrictions may apply depending on the nationality of the person and the nature of business
The ASIC website provides extensive resources for those looking to register a business. Consumer Affairs Victoria also provides advice on starting and running a business. The Victorian Small Business Commission offers free business advice and mediation services.
If you need legal assistance in Business Registration, consider consulting with a lawyer. Preparing any questions you have in advance can help you to have the most productive discussion. Some lawyers may offer a free initial consultation, so it’s worth researching different options to find the right legal advisor for your needs.
