You can transfer an existing business name to a new company when you register that company through Lawpath’s company registration form. Transfers are only available as part of a new company registration.
Sole Trader/Individual to a Company (Pty Ltd)
If you already own the business name, select “I own this business name” on the form and continue your application. Then enter the ABN that matches the business name.
You can add new shareholders and directors, including people who weren’t previously involved in the business.
For the full list of information you’ll need, see What information do I need to set up a Pty Ltd company?
You must be listed as a shareholder or director of the company (or both) for the transfer to succeed
Partnership to Company (Pty Ltd)
The process is the same as for a sole trader, and you can keep the same name. Both partners must be listed as directors or shareholders.
If only some partners will be involved in the company, you’ll need to complete a Business Name Transfer through ASIC Connect first (see below).
Transfer name to a new owner
If you’re not the new owner, the new owner needs a transfer number from ASIC before they can use the name. This process is completed directly with ASIC, not through Lawpath.
Create a free ASIC Connect account if you don’t have one, and link it to your business name.
Complete the online application to transfer the business name. Don’t apply to cancel it.
ASIC emails a secure transfer number to the address you gave when registering the name, or to your service of documents address if you didn’t provide one.
Give the transfer number to the new owner.
The new owner must register the business name within 4 months from their own ASIC Connect account.
FAQs
Q: Can I list the current owner to establish the company and then remove them from the new company?
Yes, however, please be aware that they will still show in historical records
Q: Do I need to close the previous business?
You can cancel the ABN of the business directly with ABR, and complete the transfer of the business name to ensure the name is only associated with your new company. (It is recommended you do this only when the new company is set up)
For more information, you can contact ASIC directly here: Transfer your business name