The Legal Requirements for Establishing a Partnership Fitness Center Company

When planning the establishment of the partnership fitness center company, Jack and Jill will consider various legal requirements as per the Australian law. The company requires a name that is catchy among their target customers. Long and irrelevant names are not appropriate, but rather short attractive names will be easier for marketing. Additionally, they need to have a company logo that will be associated with the services they offer. The logo may bear anything although the association with services will ease the rate of penetration in the market. Upon deciding the business name and logo, it is a requirement they check the availability of such names exist in other companies within Australia. This is the government’s control effort aiming to avoid duplication of company names and cause confusion in subsequent steps. The process is done through Australian Securities and Investments Commission (ASIC), and it can be conducted online without necessarily visiting their offices. The website has search button whereupon typing your chosen name you submit to check the presence of matching/similarities.

The non-duplicate name proceeds to the stage of company registration in that name through ASIC to secure the name from use by another company. The process can be done online through www.asic.gov.au by signing up to create a new account. Successful account creation is then followed by the online application process for registration which normally takes about 20 minutes, and confirmation is obtained online that the company has been successfully registered under that name and provided with a Certificate of Registration bearing its name. Normally, there is a fee for company name application costing AUD 34 for the one-year duration or AUD 79 for a duration of three years. Another stage is acquiring a Tax File Number (TFN) follows to allow the company to file annual tax returns as per the government requirements through Australian Taxation Office (ATO).