The Australian Securities and Investments Commission (ASIC) is Australia’s corporate, markets and financial services regulator. ASIC’s role includes making information about companies available to the public and administering the registration and renewal of business names.

Business names can be registered for one year or three years and after that time they will need to be renewed.  The fees currently for renewing a business name are $42 for one year and $98 for three years.

From our experience with business names, we ask you to take note of private service providers requesting you to renew your business name earlier than two months before your business name expiry date.  These providers can collect and pay these fees to ASIC on your behalf while charging you an additional unnecessary fee for this service. We have seen an increase in businesses offering this service.

Importantly there is no need for concern. ASIC will send you a business name renewal reminder notice to the nominated email address registered with ASIC 30 days before your renewal is due. If ASIC does not have an email address, then they will send the renewal notice to the address for service or the principal place of business for the business name.

As your trusted advisors and from our accumulated experience of supporting our clients, we would like to highlight how you can easily renew your business name in Australia directly on the ASIC website.

To find out more and to review your business name, please see the link to the ASIC website:  https://asic.gov.au/for-businessa/renewing-your-business-name/

If our office has registered the business name on your behalf, the renewal notices will come directly to us and will be forwarded to you as required.

If you would like more information and support or for us to manage the renewal process on your behalf, please contact Karen Malone or Michelle McAteer in our support team.

By Karen Malone, Personal Assistant at BYRONS.

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