This type of proprietary limited (Pty Ltd) company is registered with ASIC as company whose sole purpose is to exist as a body corporate to administer a property. They involve a group of people (directors or members) who own or live in a block of flats or units. A reduced rate to the annual fee payable to ASIC is applicable to this type of company as long as:
- the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected;
- the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to use of the common areas; and
- the company only operates to facilitate and enforce the rights of company members in relation to exclusive occupation of the residential areas and to maintain the common areas.
This company is registered to purchase property and act as a body corporate with a constitution containing relevant sections relating to specific aspects of the property such as the plans of the property, by-laws and lot entitlement tables. Shareholdings are split between “Share Groups” with each share group representing a specific apartment or unit.
Patricia Holdings makes setting up a Home Unit Pty Ltd company simple. This company type can be ordered online or by completing a manual order form and returning it to us by email.
- ASIC Certificate of Registration
- A complete and tailored suite of documents completing your company register, including:
- Company Constitution specific to the property
- Members resolution on incorporation
- Directors resolution on incorporation
- Register of directors, secretaries & members
- Officeholder consents
- Members consents and applications
- Letter to the ATO appointing a public officer
- Allotment journal
- Share Certificates
- A helpful instruction letter
We also provide blank registers (including option & debenture holders) as well as meeting and consent templates to help you keep your register up to date.
If you order our full service courier delivered product you will receive your documents bound in a professional folder which includes indexed tabs separating the documents and 2 copies of your constitution (1 bound and 1 hole punched).