How do I change my company name?

What is required to change a company's name?

The process of changing a company name is completed using a Form 205, Notification of Resolution. As ASIC registered agents, we can electronically prepare a same-day application to submit to ASIC a company name change. There are a few things required to change a company name, they may include:

• Ensure that your new company name is available - The new company name must not be identical to an existing entity and must not contain any restricted words (ASIC restricted words) You can use our ASIC Company Name Availability Check facility to ensure your new company name is available. If the new company name is held by a business name, you must ensure the owner(s) of the business name are on the new company. If the business name holder is an individual then that individual may be a current director or member. If the business name holder is a company, then it has to be the company itself changing its name. If the business name is held by a partnership or trust, you cannot proceed with a company name change – you may need to consider changing the ownership of the business name.
• Pass a special resolution – The director(s) need to pass a resolution recommending the change to the shareholder(s), and more than 75% of the shareholders have to vote to accept the change. Generally, unlisted companies must give 21 days’ notice to its members and listed companies must give 28 days.
• Abbots prepare Form 205 – A form 205 has to be prepared for ASIC, signed by a director and dated. If this form 205 is lodged more than 14 days from the date of the resolution in then ASIC may impose a late fee.
• ASIC approval – Generally, If ASIC accepts the form 205, then the company’s name is changed immediately effective the date the form 205 was processed by ASIC. We will then provide you with a Certificate of Change of Company Name.
• Update registers – You must update all relevant registers to reflect the new ASIC changes. This may include: bank accounts, relevant authorities, documents and other company related material.

Reasons to change a company name?

There could be many reasons why you would want to change your company’s name. These could may include:

• Sale of the Business to new owners
• New Branding or marketing
• Internal business changes
• Expansion into new markets

Other questions in Company Registration