NATIONAL BUSINESS
NAMES REGISTER
ASIC Connect
Making it easier
to do business
Contents
Introduction..................................................................................................3
What is the national Business Names Register?.........................................4
The big changes..........................................................................................4
Transitioning to the national register............................................................5
How we’re helping customers......................................................................5
Business names are now online..................................................................6
Sign up........................................................................................................6
How do I register a business name?............................................................8
How do I renew a business name?............................................................ 10
Closing or selling your business?.............................................................. 12
How do I update my details?..................................................................... 13
How do I search the register?.................................................................... 14
Managing the transition............................................................................. 15
National business names legislation.......................................................... 15
Social media.............................................................................................. 15
3.
Introduction
On 28 May 2012 the Australian Securities and Investments
Commission (ASIC) launched a new online service to register,
renew, update and search business names. The national
Business Names Register replaces eight state and territory
registry services.
The new service has cut red tape and compliance costs for
Australian business. Not only does the service make it easier to
do business, it will save Australian businesses up to $480 million
over eight years.
Business owners can now check business name availability,
register or renew a business name and update their details, all on
one national online service – at any time.
Close to 1.6 million existing business name registrations have
been automatically transferred to ASIC’s national register,
together with over 84 million data records migrated from state
and territory agencies.
This has been an immense undertaking. Demand for the new
streamlined service has been beyond expectations. We have
received valuable customer feedback and are continuing to
improve the service.
Funded by the Australian Government, the national registration
service is one of four key reforms under the Council of
Australian Government’s Seamless National Economy Agenda.
Others include:
•• the Australian Business Account (ABA) for managing
interactions with Government
•• the Australian Business Licence and Information Service
(ABLIS), merging the current state and territory licence
information services
•• a single process for registering an Australian Business Number
(ABN) and a national business name.
ASIC is delighted to provide business owners with a quicker,
lower-cost, national online business names service, making it
easier to do business.
Greg Tanzer
ASIC Commissioner
31 January 2013
4.
What is the national
Business Names
Register?
Australia’s new national Business Names
Register began on 28 May 2012, when ASIC took
over the administration of business names from
state and territory agencies.
All of the existing 1.6 million registered business
names in Australia were transferred to the new
national register.
The new service collects, stores and makes
available information from businesses across
Australia. Our online service helps those wanting
to register an available name or identify who
owns a business name.
What’s in it for you?
•• Time savings – one central point to register,
•• A 28-day cancellation period now applies
if you want to cancel or transfer a business
name, to ensure all owners of the business
name are notified. New provisions will allow
proposed business name holders to do
business during the cancellation process.
For more, see page 12.
•• If you are ‘disqualified’ you will not be able to
register your business name and you cannot
trade under your business name. You are
disqualified if you are, or someone involved in
the management of your business is, convicted
of certain criminal offences.
•• New types of ‘holders’ of a business name
– i.e. family trusts, partnerships and joint
ventures – can now be recorded on the
national service.
•• New automated tests exist to determine if a
name is available.
renew, update and search business names
online
•• More efficient – cuts red tape and business
compliance costs
•• Cheaper – $33 annual registration fee or $76
for 3 years*
•• Single registration – trade Australia-wide under
one business name (no need for multiple
registrations if you don’t need them)
•• Free online searches to check name
availability, registration details and business
ownership
*Previously over $1,000 to register in all eight
states and territories.
The big changes
Important legislative and policy changes will
affect current business name holders and those
who want to register a new business name.
Under the national business names legislation:
•• You only need to register a business name
once to have national effect.
•• All new businesses must first have an
Australian Business Number (ABN) to register
a business name. This also applies to a
new owner of a transferred business name.
Limited exceptions apply.
Latest updates
To stay up to date with changes to the
new business names service, go to
www.asic.gov.au and click on the Business
Names tab and select Latest updates.
5.
Transitioning to the
national register
Need help?
Existing business names registered in the states
and territories were automatically transferred to
the new national register.
Go to www.asic.gov.au and click on the
Business Names tab, or one of the links in
the ASIC Connect button, to get a host of
information.
ASIC has combined over 84 million data records
from eight states and territories to create the new
service, including close to 1.6 million registered
business names.
The transition from largely paper-based services
in the states and territories to a new online
service has created some data and service
issues. However, we’re continuing to improve both
the quality of data and the customer experience.
How we’re helping
customers
Enquiries about the new national register are
well above expectations. We’re working hard
to respond. Our focus is on helping customers
understand the new service and get started online.
The quickest way to get help is to visit
www.asic.gov.au and click on the Business
Names tab, or one of the links in the ASIC
Connect button.
Video: Introducing ASIC’s national Business
Names Register
Find out more about the new national Business
Names Register which commenced on 28 May
2012.
This video is posted on YouTube.
Using these links you can find user guides,
YouTube videos, frequently asked questions
and latest updates on the transition process.
We are also contacting all existing business
name holders about the next major phase in
the transition – renewals of business name
registrations. We are issuing renewals in a staged
process, so you may not receive your renewal
notice right away. For more information, see
page 10 or visit www.asic.gov.au.
www.youtube.com/asicconnect
Table 1: Tracking our progress
As at 31 Jan 2013
Business name
registration
applications
received
Business
names fully
registered
Updates to
information on
the register
received
Number of
ASIC Connect
accounts
created
ASIC keys
issued to link
a business
name to ASIC
Connect
account
179,642
159,940
79,785
275,000
225,373
Paid business
Free searches name searches
4,525,526
15,687
6.
Business names
are now online
ASIC Connect now offers an online service to
register, update and search business name details.
To set up your ASIC Connect account, go to
www.asic.gov.au and click on Log in / Sign up in
the ASIC Connect button on the right hand side.
Then click on the Sign up button, as shown
below, and follow the prompts to sign up.
In the first eight months, close to 180,000
customers applied online to register a
business name.
What can I do online?
•• Apply to register a business name
•• Search the business names register
•• Update your business name details
•• Renew your business name
•• Cancel, or cancel and transfer, your
business name
•• Manage your portfolio of business names
How will I benefit?
•• Quicker and easier to register online
•• For the first time, one free online search will
show if a business name is available nationally
•• Convenient, with 25% of registrations done
after 5pm
•• You only need to register your business name
2. Get your ASIC key
once for national effect
•• Lower registration and renewal fees – $33 for
one year, $76 for three years
•• Trade with a single business name nationally
•• You can pay online immediately via credit card
Sign up
1. Sign up to ASIC Connect
To register a new business name, or to renew or
update an existing business name, you’ll need to
‘sign up’ to the ASIC Connect online service.
Creating an ASIC Connect account is like
registering for an online shopping service.
You simply provide your name, email address,
a password and a security question.
After you sign up, you can link all business
names you have registered to the one ASIC
Connect account, using your ASIC key.
Note that you can still search a business name
without an ASIC Connect account.
To make changes to your business name
registration – update details, renew, cancel or
transfer – you must use an ASIC key to link the
business name to your ASIC Connect account.
A unique 11 digit number, the ASIC key verifies
your authenticity. The ASIC key is specific to
each business name you own. Similar to a PIN
for your bank account, it’s there for your security.
If your business name was registered before
28 May 2012: we will post the ASIC key with
your next business name renewal notice to
the address for service of documents listed on
the register. You can also request an ASIC key
through ASIC Connect, online at any time.
If your business name was registered on
or after 28 May 2012: we will email you the
ASIC key once we receive your payment for
registration. You can also request an ASIC key
through ASIC Connect, online at any time.
7.
If you have registered a business name,
but do not have the ASIC key: if you have
not yet received the key, or have lost it, you
can request a new one online through your
ASIC Connect account.
You can give the ASIC key to anyone you
authorise to keep your business name up to date.
Need help?
Go to www.asic.gov.au and click on
the Business names tab and select
ASIC Connect.
3. Start transacting
To transact, log into your ASIC Connect account,
and use your ASIC key to link your business
name to the account.
Once this is done, you can see all the details for
your business name. Now you have all the tools
you need to renew, cancel, transfer or update
your business name registration online.
Create your ASIC account
If you
already have a
business name:
Use an ASIC
key to link your
business name
to your ASIC
Connect account.
There is a unique
key for each
business name
you own.
User guides:
Our handy user guides in www.asic.gov.au show
you how to sign up for an ASIC Connect account,
how to link a business name to your ASIC
Connect account and how to order an ASIC key.
If you want
to register a
business name:
Register your
business name
online using
the easy online
process. When you
receive your ASIC
key, use it to link
your new business
name to your
ASIC account.
Video: Signing up to ASIC Connect
You are ready to make changes
or update your business name
registration details at any time.
Watch this YouTube video to learn how to sign
up for an ASIC Connect account.
www.youtube.com/asicconnect
8.
How do I register a
business name?
To submit an application for a business name,
you must log in to your ASIC Connect account
online. (See Sign up on Page 6, to find out how to
create your ASIC Connect account).
For most business owners, registering a business
name is straightforward.
If you have all your information on hand, it takes
about 15–20 minutes.
Getting an ABN – who needs one?
Under new laws, you must now have an
Australian Business Number (ABN) if you:
•• are applying to register a business name for
the first time
•• are purchasing a business name from another
holder
•• are an existing business name holder (pre–28
May 2012) and want to register a new business
name, OR have allowed your business name
to expire and have to re-register.
New processes are making this easier. When you
apply for an ABN online through the Australian
Business Register (ABR), you can link straight to
ASIC to register your business name online.
A new ABR service allows business owners to
apply for an ABN and register a business name
in a single transaction.
To find out how to obtain an ABN, go to
www.abr.gov.au
Australian Business Register
To register a business name, go to
www.asic.gov.au and click on the Log in /
Sign up link on the ASIC Connect button on
the right-hand side.
ASIC Connect also provides links to other
business services such as the Australian
Business Account and the Australian
Business Licence and Information Service.
Choose your business name
First, check if a business name is available.
Use the free check name availability search
on ASIC Connect at www.asic.gov.au.
9.
Even if the name passes the ASIC availability
search, before you register it, you should:
•• check if the name is identical or similar to a
If you have a home-based business and your
principal place of business is your residential
address, for privacy reasons the principal place of
business is not shown in full. Only the suburb and
state or territory is shown on the public register.
However, if you use your home address as your
address for service of documents, this will be
displayed on the public register.
•• check whether a domain name is available,
You may provide an alternative address for
service such as the address of your accountant,
a relative or friend, or your lawyer (with their
consent).
registered trademark, using IP Australia’s
TM Check, at www.ipaustralia.gov.au
at www.auda.org.au
•• check whether you need any government
licences, permits or approvals to use
a name or conduct a particular type of
business, using the Australian Business
Licence and Information Service at http://
ablis.business.gov.au/pages/home.aspx.
Need help?
Go to www.asic.gov.au and click on
the Business names tab and select
Register a business name.
Be aware
Registering a business name does not
give you ownership of the name, protect
intellectual property rights in a name or brand
(such as by registering a trademark), or give
you exclusive rights to a name.
Business names with small variations like
the addition of a geographic location are
allowable as separate business names. For
example, Jim registers the business name
‘Jim’s Gym’, while someone else registers
‘Jim’s Gym Sydney’ – both are allowed as
separate names under Australian business
name rules.
If you want to find out more about protecting
your rights to a business name, go to IP
Australia at www.ipaustralia.gov.au.
Home-based businesses
For business names belonging to an
individual, applicants must now provide a
physical address for their principal place of
business, as well as an address for service of
documents.
User guides:
Our handy user guides in www.asic.gov.au show
you How to apply for a business name for the first
time and How to register a business name with a
consent to transfer number.
10.
How do I renew a
business name?
Business names transitioned to ASIC from the
state and territory services will generally fall due
for renewal sometime between May 2012 and
May 2015.
To get started
Go to www.asic.gov.au and click on the Log in /
Sign up link on the ASIC Connect button on the
right-hand side.
ASIC will contact you when it’s time to renew.
Your renewal notice will explain how to go online,
how to review your details, and how to renew
your registration and pay the renewal fee.
We will send your renewal notice to the address
for service of documents listed on the national
business names register or via email if you
have provided one to ASIC. You should conduct
a search on the Business Names Register to
check whether your address for service details
are correct.
Once you receive the renewal notice, you
can renew online at ASIC Connect at
www.asic.gov.au for a one-year or threeyear period.
Haven’t received your
renewal notice?
Things you should know
•• We will provide at least 28 days notice of when
your business name is due to expire.
•• Your renewal notice will be sent to your
address for service.
ASIC is undertaking a staged renewal process
between 28 May 2012 and 30 April 2013, due to
the volume of renewals and transition to the new
national service.
•• Your renewal notice will tell you how to renew
This might mean you have not yet received your
renewal notice. For more information about when
your renewal notice may be issued visit Renewal
notices that have been issued at www.asic.gov.au.
•• If you don’t pay on time, we will send you a
We will not cancel your business name without
contacting you.
But if you are concerned you have missed your
renewal, check that your address for service
details are correct by doing a free search on
the Business Names Register.
In the event you have missed your renewal,
we will alert you through a notice of intention
to cancel.
your business name on ASIC Connect
•• You can pay the registration fee online with a
credit card, via BPay or Australia Post.
notice of intention to cancel. You risk losing
your business name if you don’t pay promptly
after receiving this notice.
11.
Steps to renew
my registration
Step 1:Create your ASIC Connect
account online
Need help?
Go to www.asic.gov.au and click on
the Business Names tab and select
Renew business name.
Step 2:Log into ASIC Connect
Step 3:Make sure you have your ASIC key
in your renewal notice
Step 4:Use your ASIC key to link your
business name to your account
Step 5:Click on ‘Lodgements &
Notifications’ tab
Step 6:Select your business name and
select ‘Renew business name’
transaction
Step 7:Review your information
Step 8:Select payment – pay now,
or pay later and an invoice will be
emailed to you
User guides:
Our handy user guide in www.asic.gov.au shows
you How to renew a business name.
Step 9:Once you have paid a confirmation
will be emailed (with new record of
registration) within 48 hours
Helping transitional renewals
ASIC is offering a service whereby we will email
the renewal notice and invoice to customers for
their first renewal. If you wish to request this,
contact ASIC.
What if I have multiple registrations
for the same business?
Video: How to renew your business name
registration using our online service,
ASIC Connect
If you have had the same business name
migrated from multiple states or territories to the
new ASIC register, you may choose to renew
just one business name. The national register
eliminates the need for multiple registrations of
the same business name.
Watch this YouTube video to find out how to
renew your business name registration using
our online service, ASIC Connect.
You can either ignore the renewal process
for the rest (they will be subject to automated
cancellation processes) or you can apply to ASIC
to cancel any unwanted registrations. No fee
applies for the cancellation of a business name.
You have the option of keeping the multiple
registrations. This might be important if you
want to sell the business in a particular state
or territory.
www.youtube.com/asicconnect
12.
Closing or selling your
business?
If you are the business name holder and no
longer need your business name, you can
ask us to cancel it.
If you are selling your business, you need to
ask us to cancel your registration and transfer
it to the new owner. The new owner will then
need to follow a special process to register
the business name.
What is the 28-day cancel /
transfer period?
Cancellation will take about 28 days.
This is a new legal requirement that ensures
all relevant parties are informed of the
impending cancellation.
ASIC has received feedback that the buyer’s
name needs to appear as holder of the
business name as soon as possible, in order
to do things like open bank accounts and set
up EFTPOS.
We have recently improved the service to
make sure both current and new owners
will appear on the register during the
cancellation period.
This change now allows banks and other
third parties (e.g. suppliers) to easily search
the Business Names Register and confirm
the record of registration to the buyer.
Restructuring your business
If your business name is held by two or more
holders, for example a partnership, you cannot:
•• remove all business name holders and add
a new one (this is a cancel/transfer to a
new entity)
•• remove all partners except one (this
is a cancel/transfer to a new entity –
partnership to a sole trader)
•• change your name to that of another
person (this is a cancel/transfer, not a
name change).
These rules exist because we must give
notice to partners that the business name
is being cancelled and transferred to a new
legal owner, so one holder cannot simply
remove all of them from the register.
Steps to transfer
a business name
For current business name holders:
Step 1:Create your ASIC Connect account
online
Step 2: Log into ASIC Connect
Step 3: Make sure you have your ASIC key
Step 4:Use your ASIC key to link your
business name to your account
Step 5:Go to Lodgements and
Notifications, select your business
name and select ‘cancel/transfer
business name’
Step 6:You will receive a ‘consent to
transfer number’* via email,
usually within 24 hours
Step 7:Provide the ‘consent to transfer
number’ to proposed business
name holder
Step 8:New business holder can apply
online to register the name straight
away using the ‘consent to transfer’
number
For proposed business
name holders:
Step 1:Obtain ‘consent to transfer number’
from the transferring owner
Step 2:Create your ASIC Connect account
online
Step 3: Log into ASIC Connect
Step 4: Register the business name online
via ASIC Connect. Use your ‘consent
to transfer number’ when you enter
the business name. The business
name is only available to you if you
enter the consent to transfer number.
*The ‘consent to transfer number’ is an
important part of the process for transferring
a business name because it enables the
business name to be registered to the new
business owner as soon as the sale of the
business has occurred.
13.
Need help?
Go to www.asic.gov.au and click on
the Business Names tab and select Cancel
a business name or Transfer a business
name.
Add or remove a partner
Generally, adding or removing partners from a
partnership creates a new partnership. However,
if your partnership agreement provides for the
partnership to continue in these circumstances,
then we will accept this change.
You must declare that you are able to add
or remove partners without dissolving your
partnership agreement. If your partnership has
dissolved or ended and you have formed a new
partnership, you must cancel the registration held
by the dissolved partnership and transfer it to the
newly formed partnership. Note that if you have
dissolved a partnership and need to transfer the
business name to a new partnership, you will
require an ABN to register the business name.
Identical names
User guides:
Our handy user guides in www.asic.gov.au
show you How to cancel a business name and
How to transfer a business name and How to
register a business name with a consent to
transfer number.
How do I update my
details?
Go online to ASIC Connect to ensure your
details are correct and up to date.
It’s easy to log in and update, add or remove
information online, such as your name (e.g.
change to your spouse’s name), residential
address and email address.
Two or more identical (or nearly identical)
business names may be recorded on the ASIC
register if they were previously registered in
different states or territories.
Extra information appearing in ASIC searches
will help you to distinguish between identical
business names transferred from the states and
territories – such as which state or territory the
business name was first registered and their
respective previous registration numbers.
Need help?
Go to www.asic.gov.au and click on
the Business Names tab and select
Update details.
It’s important to notify ASIC within 28 days
of any changes, for example, if your principal
place of business, address for service or
residential address (for individual holders) has
changed.
Birth details, residential and email addresses
will not appear on the public register. However,
if you nominate a residential address as your
address for service, it will appear on the public
register.
You cannot change your registered business
name (you have to register a new name), and
would need to request a correction if your date
or place of birth details are incorrect.
User guides:
Our handy user guides in www.asic.gov.au show
you How to change an address for a business
name, How to add or remove a business name
partner, How to change business name holder
details (person), and How to change business
name representative details.
14.
How do I search the
register?
•• Ensure your email address is correct when
Anyone can do a free online search for contact
and ownership details of any business currently
registered in Australia, through ASIC Connect’s
Search function.
•• The Recent Searches panel on the right-hand
We expect around 10 million free online
searches, including name availability checks,
each year, resulting in greater transparency about
who holds a business name and what business
names are available for registration.
Search types
Real-time automated searches can be performed for:
•• a business name – to see what information we
hold about the business name
purchasing search products online.
•• Use the Help icons for more information
(move your mouse over the icon).
side of every page displays previous searches
you have conducted (for current visits).
•• Minimise information by selecting the ‘Hide’
button or the arrow next to a section title.
•• Partnerships and joint venture entities may
be shown as holders of business names.
Partnerships were not previously entitled to
hold a business name. To obtain the list of
partners you will need to purchase an extract
from the register.
•• View sample products to see what information
is included in a paid search.
•• a business name holder (person or
organisation) – to see what business names
they hold
•• business name availability – to see if a name is
available for registration.
Search existing business names
Need help?
Go to www.asic.gov.au and click on
the Business Names tab and select Search
a business name.
You can confirm (for free) that a business name
is registered or has been transferred to the
national register. You can also check registration/
expiry dates, and holder and address details.
You can also obtain paid information extracts
about business names, for example, historical
information, names of partners (where the holder
is a partnership), representative details and
relevant addresses.
Video: ASIC Connect – Search
Learn about ASIC’s new online search service
that will allow you to search our registers via
ASIC Connect, our new online portal.
Tips for searching
•• To get started, go to www.asic.gov.au and
click on Search ASIC registers in the ASIC
Connect button on the right-hand side.
•• Once you are on the ASIC Connect Search
page, select the second tab Search business
names register at the top left-hand side of
the screen (as shown above).
www.youtube.com/asicconnect
15.
Managing the
transition
The national business names register has
required a significant investment to deliver the
service and for the first three years of operation.
This investment will create $480 million in time
and fee savings for business and government
over eight years.
It has been a major transition. We’ve experienced
overwhelming demand for the new service.
We’re working with small business
organisations to address issues and improve
the registration process.
We’re confident our new online registry
service – ASIC Connect – now makes it
easier to do business with ASIC. It removes
the inconvenience caused by registration of
business names under the law of more than
one jurisdiction within Australia.
In future, other services will be added to
ASIC Connect.
National business
names legislation
The national business names registration
service was created following the
commencement of the Business Names
Registration Act 2011 and associated legislation.
The package of legislation allowed for migration
of state and territory business names data to
the national business names register before it
started on 28 May 2012.
ASIC is now responsible for registering,
renewing and administering business names
nationally.
Social media
ASIC uses social media to promote its online web
service ASIC Connect and its Business Names
Register.
Get regular Twitter updates
@ASIC_Connect
Find us on Facebook at
www.facebook.com/asicconnect
http://www.youtube.com/asicconnect
Latest updates
To stay up to date with changes to the
new business names service, go to
www.asic.gov.au and click on the Business
Names tab and select Latest updates.
ASIC Connect
Making it easier to do business
www.asic.gov.au
ASIC: 1300 300 630
Disclaimer
Please note that this is a summary
giving you basic information about a
particular topic. It does not cover the
whole of the relevant law regarding
that topic, and it is not a substitute for
professional advice.
© Australian Securities and
Investments Commission
ISBN 978-0-9805534-7-5
July 2013