Do I need to renew my business name?
The short answer is ‘YES’, if you wish to continue trading under that name.
If you are a business owner and have a registered business name, you must keep on top of all your business processes and registrations – and ‘yes’ includes renewing your business name.
To keep your business name registration active, you must regularly renew your business name every 1 or 3 years. At the end of each renewal term, you can renew your business name for another 1 or 3-year term.
The cost to renew your business name for 1 year is $199; for 3 years, it’s $297.
Existing Namecorp customers are entitled to renewal discounts of up to $100, please make sure to speak with your personal business concierge on 1300 006 263 to take advantage of this discount.
When can I renew my business name?
In accordance with ASIC policies and guidelines, renewals cannot be processed until 30 days before the renewal date.
By way of example, if your registered business name is due to expire on 10th October 2022, it cannot be renewed until 11th September 2022, and you have 30 days to pay for your renewal and secure your business name for an additional term.
Many business owners renew their business name up to 90 days in advance to ensure that their name is safe and secure. You have the option to pay for your renewal in advance through our website, and we will arrange to schedule your business name renewal in advance so that you avoid any cancellation processing fees or renewal price increases.
For existing customers and as an added security feature, we also email and SMS reminders that their business names are about to expire so that they don’t miss out on their next renewal date. Once processed, we’ll send out a confirmation email and your new business name certificate.
How to renew my business name?
Pay now is the quickest and simplest way to renew your business name online. Simply click on this link to renew online then:
- Enter your business name
- Select your preferred renewal period (either 1 or 3 years)
- Enter your ABN number
Once the form is completed and you have successfully renewed your business name, you’ll receive a confirmation email along with your new certificate of registration.
Note: Certificates of registration usually take approximately 24-48 business hours to process.
What happens if I forget to renew on time?
Not to worry, if you have forgotten to pay for your renewal by the due date, ASIC will still provide you with an additional 2-3 month grace period to renew and secure your business name before it starts the cancellation process.
After the 2-3 month grace period, ASIC will start the cancellation process, which usually takes up to 2-3 months. Once your business name is cancelled, you cannot have it renewed, and you cannot register the same identical name for about another 6-7 months.
However, during this 6-7 month period, you can opt to have the business name restored by contacting Namecorp on 1300 006 263.
IMPORTANT: If you let your business name registration expire and don’t pay the renewal fee, your business name will be cancelled, and you can no longer trade under that name.
Can I restore my business name?
After your business’s name is cancelled, it takes six months before the business name will be available to the public, and anyone else can register it and use it as their own. During this period, you can apply to have the business name restored.
You can restore your business name by paying a fee and completing a restoration application. This process can take several weeks to finalise.
After restoring your business name, you can again begin to trade under this name.
If you choose not to restore your business name, you may need to consider registering a new business name. If you need help registering your business name or any business name ideas, please call us on 1300 006 263.
Disclaimer: All information provided on this webpage is general information about our business in Australia, and products and services. Nothing on this webpage is intended to be professional advice and should not be relied on as such. You should obtain specific financial, legal, or other professional advice before relying on the content of this webpage. By not seeking such advice, you accept the risk that the information on this webpage may not meet the specific needs of your business. Our liability is limited to the maximum extent permitted by applicable law in accordance with our website terms and conditions.