When you register a company, the name you choose speaks volumes about the mission, vision, direction and market niche.
But things change. Many company directors find themselves considering a name change at some point. Whether it’s to reflect a new direction, rebrand for better market positioning, or signal a structural change, updating your registered company can be a strategic move.
Wait – you can do that?
The first question you might have is whether the Australian company register allows name changes.
Somewhat surprisingly, the answer is yes.
Surprisingly, because you can’t change a business name. At least not directly; you need to register a new business name and cancel the old one.
It’s effectively the same outcome, just with more paperwork.
However, company names? They’re fair game.
Remember: Business names are used to market and operate a business, while company names are the legal “Pty Ltd” names registered with the Australian Securities and Investments Commission (ASIC).
ASIC, the body in charge of the Australian company register, permits name changes without needing to register a new company.
With some caveats, of course.
- Company name availability: Your chosen name must be available, which you can check via ASIC’s ‘Check name availability’ tool.
- No restricted words: Words like bank, ANZAC or university aren’t permitted without ministerial approval.
- Private companies only: Your company registration can’t suggest a non-existent connection to government or public organisations.
- No offence: This is probably obvious, but you won’t be allowed to register a company with an offensive, illegal or inappropriate name.
Three reasons you might change your registered company name
- Refocusing
If your company has evolved from its initial vision or expanded into new areas, a name change can better align with the revamped profile.
- Rebranding
A name change can help your business stand out in a crowded market and resonate more effectively with your target audience.
- Streamlining
If you’re merging with another company or changing your legal structure, a name change can simplify your business identity.
How to change a registered company name in Australia
Changing a registered company name is relatively straightforward*. You can start the process if your chosen name meets the criteria above.
*Company name changes are straightforward compared to other, more complex company registration dealings. Still, getting all the details correct is important to avoid delays and frustration.
If you’re stuck or stumped, our company registration specialists can help you through the process.
Choose a new name
Select a new company name that adheres to ASIC guidelines and is not already registered. ASIC also recommends visiting IP Australia to double-check that your chosen company name does not infringe on trademarks or copyrights.
If you’ve decided on a name, but you’re not quite ready to make the change, Form 410 Application for a reservation of a name gives you 60 days to decide.
Pass a special resolution
Under the Corporations Act 2001, big decisions need to pass a special resolution where at least 75% of the company’s members (shareholders or owners) agree to the change.
Companies need to hold a meeting of members to pass a special resolution approving the name change. This can become a lengthy process unless members holding 95% of the voting shares agree beforehand.
- The company must give members 21 days’ notice (28 days for listed companies)
- A minimum number of members must be present at the meeting
- The special resolution must be noted in the meeting minutes, which are signed by the meeting’s chairperson
- The resolution must enter the company’s records within one month of the meeting
Registered companies with only one member can pass a special resolution without a meeting.
Lodge Form 205
When you have ticked off all the requirements to pass a special resolution, you can submit Form 205 Notification of Resolution to ASIC.
You may need to send a copy of the special resolution with the form, plus supporting documents like meeting minutes. There is also a $474 fee for lodging Form 205 to change a company’s name.
*Remember: Submit your form within 14 days of the resolution passing, as late lodgement attracts a fee. *
ASIC approval
ASIC will review your application and either approve or reject the name change. Typically, this takes anywhere from 14 to 28 days.
ASIC then sends a notification by email (for electronic Form 205 submissions) or by letter to your company’s registered address.
Name changes aren’t automatic or guaranteed. It’s always wise to wait until ASIC officially approves the new name before updating your website, emails or letterhead.
If your new company name is rejected, ASIC will explain why in writing. You can use the $474 lodgement fee for a new Form 205 or ask ASIC to refund it.
Five (more) tips for a smooth name change
- Communication
Inform customers, stakeholders, and the media about the name change well in advance.
- Consistency
Update your business registration details, website, letterhead, invoices, and other official documents.
- Presentation
Ensure your online presence, including social media accounts, directories, and search engine listings, reflects the new name.
- Monitoring
Continuously monitor the impact of the name change and make adjustments as needed to ensure a smooth transition.
- Professional support
Registry Australia’s affordable company registration services take the stress out of special resolutions, ensuring there are no snags, delays or late fees in your name change process.
Plus, our one-stop online portal gives you the tools to register a business name for the new company, renew business names, register an ABN and even secure a local domain name.
Whether you need to change a company name, register multiple business names or grow your online presence, Registry is here to help.
