Transfer your business name

How to change business name ownership.

Transferring a business name is a two-step process involving the current and new business owners.

  1. If you're the current business owner, you will need to transfer the business name if the new owner wishes to use it.
  2. If you're the new business owner, you'll need to register the business name in your name using the transfer number if you wish to continue using it.

You'll also need to complete this process if your business ABN has changed.  

Before you transfer your business name

Watch our simple overview of transferring your business name.

Transcript: Transferring a business name.

How to transfer a business name

If you are the current owner of a business name and you need to transfer it to a new owner:

  1. Go to ASIC Connect and log in to your account. If you don't have an account you'll need to create one.
  2. Link your business name to your account with your ASIC key if you haven't already.
  3. Select the Lodgements & Notifications tab at the top of the ASIC Connect page. Check your business email address. If this is incorrect or an email address has not been provided, you can update your business name address details.
  4. Select the business name you are transferring.
  5. In the transaction column, select Cancel/Transfer business name and select Go.
  6. Select that 'I would like to transfer the business name' and select Next.
  7. Review your transaction.
  8. Complete your declarations.
  9. Confirmation.

You will then receive a transfer number via email within 24 hours. The transfer number is 12 characters long and in the format of number 1, hyphen and 10 digits, e.g.1-2345678910.

You must give the transfer number to the new business name owner. They will need this to register the business name in their name.

Need help? See our user guides

Registering a business name with a transfer number

Before you can register the business name, you must have a current ABN and the transfer number from the previous owner.

If you are the new business owner and need to register the business name with a transfer number:

  1. Go to ASIC Connect and log in to your account. If you don’t have an account you'll need to create one. Make sure you say 'no', you don’t have a current business.
  2. Select the Licences and Registrations tab at the top of the ASIC Connect page.
  3. Select you would like to register a business name from the drop-down box.
  4. Read the information and tick the boxes. Select Get started.
  5. Select the relevant ABN option, enter your ABN and select Next.
  6. Enter the proposed business name exactly as it appears on our register. You can search the business name to find this.
  7. Enter the transfer number in the format provided.
    The transfer number is 12 characters long and in the format of number 1, hyphen and 10 digits, e.g.1-2345678910.
    The transfer number is confirmed at the end of the transaction.
  8. Select the registration period.
  9. Enter the proposed business name holder details.
  10. Enter the addresses of the proposed business name.
  11. Confirm the eligibility to hold the proposed business name.
  12. Review your application.
  13. Complete your declarations.
  14. Make your payment.
  15. Confirmation.

Need help? See our user guides.

What to do if you haven't received your transfer number

If you are the current business owner and you haven't received your transfer number:

  1. Check your email to make sure it hasn't gone to your spam folder.
  2. Send us an online enquiry. Select that your question is about a 'business name' and you would like to know how to 'registration'.
  3. Tell us you have not received your transfer number, you have checked your spam folder and would like the email re-sent.

If you are the new business owner and you haven't received your transfer number, you will need to contact the previous owner.

What happens after the business name is transferred

When you transfer a business name you should be aware:

  • Renewal periods are not carried over to the new business name holder. For example, if there were two years remaining on the previous business name registration this isn't carried over to the new registration.
  • The transfer number is valid for four months from the date of the transfer application. After this time, the business name will be available for others to register.
  • Two business names may appear on our register for 28 days. One will be registered to the previous business owner and one registered to the new business owner.

Who needs to transfer a business name

You need to transfer a business name if the person or organisation that owns the business changes.

Find out who needs to transfer a business name.

Stopping your business name transfer

You can stop the business name transfer if the sale of your business falls through or you no longer need to change ownership.

Find out how to stop your business name transfer.

 

Looking for more information on how we manage your business name?

Download our Regulatory Guide 235 or feel free to Ask us a question online.

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Last updated: 04/01/2016 03:54