How Do I Register Renew & Transfer a Business Name? What You Need to Know
USE TOP BUSINESS NAME FOR YOUR BUSINESS NAME REGISTRATION
Your business name serves several purposes. This name is the title your business trades under and how your customers identify you. It sets you apart from the competition, is the foundation for your lasting relationships with your customers and will be an asset to you over the years.
Do you need to register your business name?
Most businesses must create and register a unique business name, but a few exceptions exist. You don’t have to register your name to operate as a company. If the name of your business is your first and last name or your partner’s first and last name, then you don’t need to register it. However, if you operate as a trust, partnership, or sole trader, you must register your business name with ASIC.
The process is simple if you’re wondering how to register a business name. First, you’ll need an ABN (Australian Business Number). Choose a good name for your business and check whether it is available. You can do this here. You don’t want to choose a name similar to another business because this could result in legal problems. Once you have selected a unique name for your business, you can register it at Top Business Name. This process is fast and easy, and you will receive confirmation shortly after registration. You will also receive a notification a couple of months before it is time to renew.
What if my business name was previously registered in another state or territory?
When you register your business name, it will be registered nationally, so you don’t need to re-register in your new location. Should you register a name in multiple states or territories, the name is transferred to ASIC’s national register, and you may conduct business under the name anywhere in Australia. If you have registered more than one business name, you may use any of the registered names; to keep just one, just allow the other registrations to lapse by not renewing them. However, renew the registration for the name you wish to keep on time.
How do I renew my business name?
Once you know how to register a business name, you must know how to renew it. If you have registered your business name, you will receive a notification from ASIC one to two months before your renewal date. Be sure they have your correct mailing address so that you will receive the notice. You will not incur any late fees for not renewing on time; however, your original registration will be cancelled. If you do not wish to renew your business name, take no action. If you want to cancel your business name registration before the renewal date, you may do so.
How do I transfer my business name?
Please submit the form for our ASIC-approved agents to process. We then email you a ‘Transfer Number’ for the new owner to use when registering that business name. You’ll need your ASIC key to Transfer your Business Name. The ASIC Key is on the Business Name Registration welcome letter or Business Name Renewal notice. Please do not hesitate to contact us. Should you have any questions?
Who needs to transfer a business name?
If you are selling or buying a business and want to keep that name or an existing business wanting to change ownership, changing your ABN number, then you need to transfer the business.
To register, renew & transfer a business name or learn more about the process, contact Top Business Name today.