You've mastered how to do several tasks yourself over the past few years. For instance,…
The very first question on our form is for you to decide the structure of your company. We only register companies that are limited by shares. The difference between company’s ‘limited by shares’ and those ‘unlimited with a share capital’ is:
Limited or Unlimited company
Proprietary companies may be limited by shares. Limited by shares is the most common form of proprietary company. Limited by shares simply means that each shareholder’s personal liability to the company is capped at the amount they have paid or agree to pay for the shares.
Proprietary company’s maybe also be ‘unlimited with a share capital’ which means the shareholders could be liable for the full debts, if any, of the company even if they have paid their shares in full. You can appreciate that his is the less likely option taken when deciding Limited or Unlimited Company.
You can choose your company’s own name, but the public must be able to tell if the company is a public company or a private company and if the shareholders have limited or unlimited liability.
On our site we are only registering Proprietary Limited companies and therefore, the name of the company must be suffixed by ‘Proprietary Limited or abbreviations thereof. For example
- Proprietary Limited
- Proprietary Ltd
- Proprietary Ltd.
- Pty Limited
- Pty Limited.
- Pty Ltd
If the company is Proprietary unlimited, the name only needs to have the word ‘Proprietary’ at the end of the name. Again we do not register Proprietary unlimited company’s.
Start New Company are not legal practitioners – You should always seek independent legal advice and not rely solely on our blog posts.
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