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Launching your own business is an exciting step, full of ambition and promise. But before you can truly build your brand in Australia, there’s an essential requirement almost every business owner must consider: registering your business name with ASIC. For many new entrepreneurs, the ASIC business name registration fee is a practical first hurdle, and understanding how these costs work can help you set your budget and avoid any surprises down the track.
Whether you’re setting up as a sole trader, partnership, or company, business name registration is your ticket to operating officially under your chosen brand. But how much does it cost? Are fees the same across Australia, including New South Wales? And what other legal steps should you prepare for?
If you’re asking yourself these questions, you’re absolutely in the right place. This guide explains ASIC business name registration fees in plain English, sheds light on what’s involved in the process, connects you to useful legal resources, and encourages you to get set up the right way from the start.
What Is ASIC and Why Do I Need to Register My Business Name?
The Australian Securities and Investments Commission (ASIC) is the government authority responsible for regulating companies, financial services, and business name registrations in Australia. If you want to trade under any name other than your own exact personal name (or your partnership’s legal names), you’ll need to register that name through ASIC.
Business name registration is not the same as registering a company, nor is it the same as having a trademark. Instead, it’s a legal obligation that allows you to use your chosen brand in the marketplace. Without it, you can’t open a business bank account, secure many licenses, or build a credible public brand.
How Much Is the ASIC Business Name Registration Fee?
The cost to register a business name with ASIC is straightforward – and fairly affordable compared to other startup costs. As of now, ASIC sets a flat registration fee, with two options depending on the period of registration:
- 1 year business name registration: $42 (GST-free)
- 3 years business name registration: $98 (GST-free)
These fees apply nationally, so whether you’re in New South Wales (NSW), Victoria, Queensland, or any other state or territory, you’ll pay the same ASIC business name registration cost. When you renew your business name, you’ll pay the same amount as you did initially, based on your chosen registration period.
This fee is payable online directly through the ASIC Connect portal, which guides you through the application process. After you submit your application and pay, ASIC will review your chosen name to ensure it’s available and compliant with the rules (e.g. not identical to another business, not offensive, and not misleading).
Is That the Only Cost to Register a Business Name in NSW?
For most small businesses, the ASIC fee outlined above is the only direct cost for business name registration. However, depending on your business structure and needs, a few other potential costs may arise:
- ABN registration: Obtaining an Australian Business Number (ABN) is free through the Australian Business Register. You must have an ABN before you register your business name.
- Company registration: If you register a company, there is a separate ASIC company registration fee (much higher than the business name cost) – learn more in our company setup guide.
- Professional help: If you hire a legal expert or business service to handle your application, they may charge a service fee (on top of the ASIC fee). At Sprintlaw, our business name registration packages are transparent about what’s included and what you’ll pay.
There’s no additional fee for business name registration specific to NSW – it’s all run by ASIC at the national level. However, keep in mind that other business licenses, permits, or council approvals may require separate fees, especially if you operate in certain industries or locations.
Step-By-Step Guide: Registering Your Business Name With ASIC
Understanding the ASIC business name registration fee is just one part of the process. Here’s a quick guide to what you need to do:
1. Decide On Your Business Structure
Are you setting up as a sole trader, partnership, company, or trust? This decision will impact other registration steps. Many early stage businesses opt for sole trader due to simplicity, while companies offer more options for liability protection and growth. Learn more about types of business structures in Australia.
2. Apply For An ABN
You’ll need an ABN to register your business name. ABN applications are handled through the Australian Business Register and are free of charge. Read our ABN registration step-by-step guide for more details.
3. Check Business Name Availability
Use ASIC’s own search tool or our comprehensive business name availability checklist to be sure nobody else is using your desired name.
4. Register Online Through ASIC Connect
Register your business name via the ASIC Connect portal. You’ll create an account, fill in your details, choose your registration period (1 or 3 years), then pay the ASIC business name registration fee when prompted.
5. Receive Confirmation and Set Up Your Brand
Once processed, you’ll receive a certificate and your new business name will be listed on the ASIC business names register. You’re now entitled to trade under this business name throughout Australia for the duration of your registration.
Does Registering A Business Name Protect My Brand?
This is a crucial point for startups. Registering your business name with ASIC does not give you exclusive rights to that name (unlike a trade mark). It simply allows you to carry on business under that name legally. If you want to protect your brand and stop others from using a similar name or logo, you should consider registering a trade mark as well.
Trade marks provide broader legal protection – they let you stop others from using a similar mark in your industry, and they’re an important part of long-term brand growth.
What Ongoing Costs and Compliance Requirements Apply?
While the ASIC business name registration fee is relatively small and typically paid every one or three years, staying legally compliant means more than just renewing your name.
- Business name renewal: Register for 1 or 3 years – when your term ends, renew by paying the same fee to continue using your business name.
- Update your details: Any changes to your business, such as address or ownership, should be updated with ASIC as soon as possible. Failing to do so can result in penalties or losing your registration.
- Other legal obligations: Depending on your business activities, you’ll need to comply with other laws, including those covering contracts, employment, and consumer protection (Australian Consumer Law) – more on these below.
For an overview of ongoing compliance requirements, check out our guide to compliance and reporting for small businesses.
What Other Legal Steps Should I Take When Registering My Business?
Registering a business name is just one item on your legal checklist. Here are some other essential steps to ensure your business is set up for success:
- Decide on a business structure: As mentioned earlier, choosing between sole trader, partnership, company, or trust has important legal and tax implications. See our resource on business vs hobby to ensure you’re operating as a genuine business.
- Set up key legal documents: Every business should consider key contracts such as:
- Terms & Conditions or Client Agreements: Set the rules for your customers and limit your liability. Read more in our guide to website terms and conditions.
- Privacy Policy: If you collect customer information (even emails), you are legally required to have a privacy policy under the Privacy Act. See our Privacy Policy essentials.
- Employment Agreements and Policies: If you hire staff, you need legal documentation to outline employment terms and workplace policies. Explore our employment contract resources.
- Supplier or Contractor Agreements: If your business relies on third parties, clearly outline payment terms, deliverables, and dispute resolution from day one.
- Shareholders Agreement: If you have co-founders or investors, a well-drafted agreement helps avoid disputes later by clarifying roles, ownership, and decision-making.
- Get the right licenses and permits: Certain business types, such as hospitality, healthcare, or trades, have their own licensing requirements in addition to business name registration. Check with your local council and industry regulators for anything you need to operate legally.
- Understand your tax obligations: Register for GST if your turnover is over $75,000, and ensure you keep accurate financial records.
For a step-by-step checklist of setting up your business legally, see our Business Startup Checklist.
Are There Any Legal Risks If I Don’t Register My Business Name?
Yes. Operating under a name that isn’t registered can have serious consequences. You may be forced to stop trading, face fines, and risk damaging your reputation with suppliers, customers, and the ATO. Worse still, you could miss out on crucial business opportunities, such as securing finance or signing contracts.
Registering your business name is a simple step that brings peace of mind – and shows others that you take your venture seriously.
Can Someone Else Still Use My Business Name After I Register?
Other businesses can’t legally operate under an identical or nearly-identical name in the same jurisdiction, but ASIC business name registration does not grant you ownership in a trademark sense. Another business in a different state or industry might still use a similar name, and you may not have legal grounds to stop them unless you have registered your trade mark.
If you are worried about protecting your brand nationally, trade marking your name (and logo) with IP Australia is the best step. It’s an investment in your business’s future and reputation.
What Happens If I Want To Change Or Cancel My Business Name?
You can update, cancel, or transfer your business name at any time through the ASIC Connect portal. Fees may apply depending on the action. If you want to close your business fully, ensure you cancel your ABN and finalise any tax responsibilities as well.
Key Takeaways
- The ASIC business name registration fee is currently $42 for one year or $98 for three years, applicable Australia-wide including NSW.
- Registering your business name is a legal necessity for most businesses and lets you trade under your chosen name, but does not grant exclusive brand rights.
- You need an ABN before you can register a business name. This step is free through the Australian Business Register.
- Make sure you also consider other essential legal steps: business structure, legal documents (like Terms & Conditions and Privacy Policies), licenses, and for extra protection, trade marks.
- Renew your business name on time and update ASIC with any changes to stay compliant and avoid penalties.
- Registering a business name is just one part of setting up your business – legal setup, brand protection, and compliance are equally important for your success.
- Getting tailored advice early can help you avoid costly mistakes and position your business for growth – reach out if you’re unsure.
If you would like a consultation on ASIC business name registration fees or general business setup in Australia, you can reach us at 1800 730 617 or team@sprintlaw.com.au for a free, no-obligations chat.
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