Any person or organization that wishes to launch a business in Australia must first register for an Australian Business Number (ABN). An ABN is an 11-digit number that the government and other organizations use to identify your company. Additionally, companies that make more than $75,000 annually must have it.
ABN registration is free of charge. You did read that correctly. There are no fees associated with registering an ABN with the Australian Business Register (ABR). However, they might bill you for their services if you use a third-party service provider to assist you with the registration procedure.
Through the ABR website, the registration process for an ABN can be completed online. Providing information about your company, including the name, address, and type of business, is a pretty simple part of the registration procedure. You will get your ABN right away after completing the registration process.
The procedure to register a business name in Kenya can take up to seven days. An application form must be submitted, and a cost of Ksh. 1,000 must be paid. On the eCitizen portal, you can register your company name. You can use mobile money or a debit/credit card to register for an account, complete the application form, and pay the registration fee through the portal.
A company director can be a 16-year-old aspirant to entrepreneurship. However, the Companies Act of 2015 mandates that a company’s directors must all be at least 18 years old. Also noteworthy is the fact that acting as a director of a corporation entails legal obligations, thus it is advisable to get legal counsel before assuming such a position.
The Companies Act of 2015 makes no mention of the maximum age for directors. However, according to the legislation, a company’s directors must be of sound mind and cannot have a criminal record that includes convictions for fraud or dishonesty. According to the Companies Act, at least one director must reside in Kenya.
In conclusion, applying for an ABN is a simple, free process that can be completed online. Through the eCitizen platform, you can register your business name if you are beginning a business in Kenya. The Companies Act of 2015 does not specify a maximum age for directors, however it does stipulate that at least one director must be older than 18.