Dominic is the CEO of Lawpath, dedicating his days to making legal easier, faster and more accessible to businesses. Dominic is a recognised thought-leader in Australian legal disruption, and was recognised as a winner of the Australian Legal Innovation Index and recently a winner of the LexisNexis 40 Under 40 (APAC).
Many founders assume the work ends once the company is registered. In reality, the administrative steps that follow are what allow your business to operate smoothly. Missing these foundations can lead to delays when opening a bank account, meeting ATO obligations, or bringing on customers and employees.
This guide walks through nine practical steps to complete after registering your company in Australia. For each step, we explain what needs to be done, why it matters, and how Lawpath customers can manage these tasks through their dashboard and support services.
Let’s dive in.
Table of Contents
1. Confirm your company registration details
Once your company has been registered, your first priority should be to carefully review all of your company details — particularly your directors’ and shareholders’ information. Check that names, addresses, and roles are correct and exactly as intended.
Mistakes during registration are not uncommon. Even small discrepancies can create issues later when opening a bank account, working with partners, or making updates to ASIC records.
If you’ve opted into Lawpath’s tax registration package, your ABN will be registered within 24 hours of your ACN registration. If you haven’t received it, check your emails from the Lawpath team — we may need additional information about your members’ details.
To process your ABN, we require the Tax File Number (TFN) of each member and shareholder to be accurate, so it’s worth double-checking these are correct.
It’s important to note that a new company requires a new ABN — you cannot carry over an existing ABN from a sole trader arrangement or another company. If you didn’t select the ABN registration package at the time of registration, you can register now through your account.
Even small errors in your registration can have downstream consequences. Mistakes in director or shareholder details can cause delays when opening a business bank account or completing other essential business processes. Getting this right early also protects the business from potential disputes down the track, where accurate records become critical.
2. Sign and complete your company compliance documentation
Your company formation documents should be finalised and signed as soon as your company is registered.
For directors, the most important documents to sign are:
- Share certificates
- Consent to act as officeholder
- Resolution of members
For shareholders, these are:
- Application for shares
- Resolution of members
These documents formally confirm ownership, governance, and responsibilities within the company.
Didn’t receive your company documents? Lawpath provides a company formation pack as part of your business registration. If you didn’t opt into this at the time of registration, you can purchase it later through your formations folder in your Lawpath account.
Alternatively, if you registered your company elsewhere but still need these documents, our document library has all the templates ready for you to create them directly. Lawpath’s eSign tool make it easy to execute and send documents to directors and shareholders.
Keeping these documents signed and on record is essential for handling any future disputes. They provide a clear, legally sound account of who holds what role and on what terms. Banks will often request these documents as supporting evidence when you go to open a business bank account, so having them ready and signed from the outset saves significant time.
3. Add your TFN, Corporate Key and Director IDs to your dashboard
Once received, you should securely store your key company identifiers so they are easily accessible whenever you need them.
These identifiers include:
- Tax File Number (TFN)
- Corporate Key
- Director ID
Your TFN will be sent to your registered address by the ATO — it serves as your business identifier in ATO records and will be required when setting up accounting software.
Your Corporate Key is typically sent from ASIC to your registered address within one week of registration. It acts as your company’s ASIC identifier and is used to create an ASIC account and make any future changes to your business details.
Your Director ID should have been applied for through the Australian Business Registry Services (ABRS) prior to registration. It is a government-issued identification number that all directors are required to hold and can be called upon in official government documentation.
If you’re registered with Lawpath, once received, store your Tax File Number (TFN), Corporate Key, and Director ID in your Lawpath business dashboard to keep them on company record and easily accessible when you need them.
Having these identifiers stored and accessible in one place means you’re not scrambling to find them when you need them most. It’s also worth noting that failing to obtain a Director ID can result in government fines, so making sure this is in order from day one is non-negotiable.
4. Get professional guidance early
After registering your company, it’s helpful to review your setup with someone who understands the compliance requirements and next steps involved in running a company as it comes with a lot of new information and compliance requirements to navigate.
Having someone guide you through the process means you spend less time figuring things out and more time building your business. Many businesses skip the foundational steps early on, and it often catches up with them later.
Getting it right from the beginning sets you up for long-term success.
An onboarding discussion can help confirm that nothing has been missed and ensure your company has been set up correctly from the beginning.
If you registered through Lawpath, book a call with your Lawpath Business Consultant to walk through each of these setup steps together. They’ll review your account with you, make sure nothing has been missed, and show you how to get the most out of the Lawpath platform as an all-in-one solution for managing your business.
Lawpath registration customers get exclusive access to these sessions as part of their Starter Plan to ensure you are supported from day 1.
5. Book a call with a Legal or Accounting Advisor
The most successful businesses don’t go it alone — they get advice from people who understand both the legal and financial side of running a company.
Speaking with an advisor early helps you future-proof your business, understand your obligations before they become issues, and make informed decisions about structure, compliance, and growth. A short conversation now can save significant time and money down the track.
If you are a Lawpath user, arrange a call with a Lawpath lawyer or accountant early in your business journey. Use this time to talk through your business plan, understand your structure, and get expert guidance on your main priorities as a new company.
6. Set up a business bank account
All new companies will need a dedicated business bank account to receive income and manage transactions.
Keeping business finances completely separate from personal accounts makes accounting significantly easier and is considered standard practice for any company. It also creates a clean paper trail for tax time and gives your business a more professional footing from day one.
To begin, contact your chosen bank to find out exactly which supporting documents they require — you’ll likely need your company registration details and some of your formation documents. A few things to be aware of: if you have a shareholder holding shares on behalf of a trust, you’ll need to present the trust deed to the bank.
Some banks also require all directors to be present together for the account opening, so it’s worth checking your chosen bank’s specific requirements in advance so you’re prepared. You can also explore Lawpath’s banking partner offers for additional benefits on your business dashboard.
7. Set up accounting software
As a company, you have ongoing reporting obligations to the ATO. Falling behind on reporting or making late payments can quickly become complicated and result in fines. Getting your accounting software set up early means you’re tracking everything correctly from the beginning, and you won’t be scrambling to catch up at tax time.
Choose and set up accounting software to manage your invoicing, expenses, payroll, and compliance reporting. If you’ve registered for GST, Pay As You Go Withholding (PAYGW), or will be paying superannuation to employees, it’s important to have the right software in place from the start. Check out Lawpath’s partner offers for accounting software to see what’s available to you.
8. Check your licences and permits
Operating without the required licences or permits can expose your business to significant legal and financial risk, including fines or being forced to cease operations. Understanding your obligations upfront means you can start trading with confidence and stay on the right side of the law from day one.
Before you start operating, check whether your business requires any industry-specific licences or local council permits. This is especially important in industries like construction, hospitality, food service, and healthcare. Visit the Australian Government ABLIS website to identify what applies to your business.
9. Create your key business documents
You don’t want to be caught without the right documents in place when it matters most. Whether it’s a dispute with a client, an issue with an employee, or a question about your obligations, having legally sound documents that clearly define your terms protects you and your business.
Knowing what those terms say is just as important as having them — so once your documents are in place, make sure you understand what you’ve agreed to.
Depending on your business goals, you’ll need a range of legal documents to operate professionally and compliantly. Whether you’re building a website, hiring employees, applying for a grant, or bringing on clients, there’s a document for it.
Lawpath has over 500 business documents to choose from. You can also use Lawpath AI to get personalised guidance.
Setting your company for long-term success
By reviewing your registration details, signing compliance documents, organising key identifiers, and setting up financial and operational systems early, you create a strong foundation for your company.
Taking care of these tasks from the beginning can prevent delays, reduce compliance risks, and help your business operate more confidently as it grows.
If you registered your company through Lawpath, many of these steps can be managed directly through your dashboard ( from accessing formation documents and storing company identifiers to connecting with advisors and exploring partner tools). If you’re still setting up your business, you can register your company with Lawpath and manage everything in one place from day one
