A shelf company in Australia is a pre-registered company, that is yet to be incorporated. These companies are never traded or have any activity, till it is bought by an individual who wants to operate a business in Australia. Previously it was difficult to incorporate a company, but now it has become easily due to the introduction of shelf companies. Any individual can buy shelf company online as they are already registered and are ready for sale when required.
After the purchase of a shelf company, it is possible to change its name as per the buyer’s business nature. It is also possible to use a trading name for the shelf company instead of changing the given company name. For example, the company name of a shelf company is XYZ Pty Ltd. the buyer of this company can trade his/her business under the trading name ABC Pty Ltd. However, the name chosen must be available and should not be registered already by some other company. It is very easy to buy shelf company, but one must follow the following steps to change their shelf company name afterward with ASIC:
- Step 1: Choose an authentic name;
- Step 2: Pass a special resolution to change the name;
- Step 3: Lodge a Form 205 to notify name change;
- Step 4: Acceptance or rejection of company name by ASIC.