Shares in a company may only be held by individuals or companies.
A trust cannot hold shares in a company but the trustee(s) of a trust can hold shares for the benefit of a trust. In this case enter the details of the trustee(s) and when adding a share holding answer Yes to the question "Are these shares held on behalf of another individual or organisation".
If the owner is an Australian company then the name must exactly match the name registered at ASIC for the provided ACN. Do not include former names for the company.
Share holders are the individuals/companies that collectively own the company. The split of shares owned typically represents the percentage split in ownership. For example two individuals who hold 50 shares each own 50% each of the company.
Proprietary companies are limited to 50 non employee share holders.
Companies formed through eCompanies must have at least one share holder/member who owns at least 1 share.
Different share classes can be used to assign different rights to share holders/members. Examples of rights would be the right to attend and vote at meetings of share holders, receive dividends etc.
(ORD) Ordinary shares are by far the most common type of share. This type of share makes up the vast majority of shares for sale on the stock exchange. Share holders of ordinary shares have the normal or ordinary rights as set out in various sections of the Corporations Act 2001.
If you are unsure then you will want to issue Ordinary shares.
If you are an advanced user the constitution provided by eCompanies outlines a range of custom share classes with rights attached to them. If you are not planning to use the supplied constitution we also provide the option to select a range of commonly named share classes for you to specify the rights to.
The number of shares issued is entirely up to the applicant. The main thing is to reflect the ownership of the company, for example a company that is equally owned by two people could be represented by each person holding 1 share each or 50 shares each.
If you are unsure it is fairly typical that between 1 and 100 shares are issued in a small company.
The value of all the shares issued in a company represent the limit of the share holders legal obligation to pay the debts of the company. It also represents the initial capital of the company.
While shares can be worth as little or as much as you would like it is fairly typical that company shares are initially priced at between 1c and $1.
The amount paid per share cannot contain a fraction of a cent.
Normally the owner of the shares will pay the full price of the shares to the company upon registration. However it is also possible to partially pay the cost of the shares and be liable for the remaining amount if the company needs the money.
The amount paid per share and the amount remaining unpaid adds up to the nominal cost of the share. ie if you have $1.00 paid and $0.50 unpaid then the cost per share is $1.50.
Unless you are an advanced user you should have $0 remaining unpaid per share.
The amount remaining unpaid per share cannot contain a fraction of a cent.
If a share holder is holding shares for the benefit of someone else they are required to inform ASIC.
ASIC does not request the name of the beneficial owner however you may enter it so it appears on the share certificate issued by eCompanies.