Private Company – Owner Managed
This private company registration is for small to medium businesses. Recommended for directors who intend managing their business themselves, i.e. the director and the owner is the same person.
Service turnaround time
5 working days from date of submission of the supporting documentation.
A private company registration is the most common and simplest form of company to be registered. It is comparable to a close corporation. NOTE: Close corporations can no longer be registered.
- If the company is owner managed, an audit is no longer required, resulting in cost savings. However financials statements still have to be prepared.
- Most private companies are owner managed and tend to have a smaller number of directors.
- Private Companies may not offer shares to the public and restrictions are also placed on the transferability of their shares.
- Private companies must have at least one director and one incorporator. The director and incorporator may be the same person. The word “person” includes a juristic entity. This means that a legal entity or a trust may be an incorporator of a new company.
All companies must have a Memorandum of Incorporation (MOI) which sets out the rules agreed by the shareholders for the management and maintenance of the business.
Private companies may be registered with a standard or a customised MOI. The standard MOI is provided by law and is integrated into the company registration process.
This company is registered with a standard MOI, refer to the 'What are you purchasing" tab below
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