Starting a business in Australia

Legal Forms of Companies

Sole Trader

Number of partners: 1 person.
Capital (max/min): No minimum capital.
Shareholders and liability: The liability of the sole trader is unlimited.

Private or Proprietary Company

Number of partners: One or more.
Capital (max/min): No minimum capital.
Shareholders and liability: The partners' liability is limited to the amount of capital contributed.

Public Company

Number of partners: One or more.
Capital (max/min): No minimum capital.
Shareholders and liability: The partners' liability is limited to the amount of capital contributed.

Partnership

Number of partners: Two or more.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is joint and unlimited for all partners.

Limited Partnership

Number of partners: At least one general partner and one limited partner.
Capital (max/min): No minimum capital.
Shareholders and liability: Unlimited for general partner, limited to capital for limited partner if they do not participate to the company management.

The Competent Organisation

Australian Security and Investment Commission (ASIC)

Company Directories

ASIC, Australian Securities and Investments Commission

Source: Doing Business, 2016