Starting a business in Australia

Legal Forms of Companies

Sole Trader

Number of partners: 1 person.
Capital (max/min): No minimum capital.
Shareholders and liability: The liability of the sole trader is unlimited.

Private or Proprietary Company

Number of partners: One or more.
Capital (max/min): No minimum capital.
Shareholders and liability: The partners' liability is limited to the amount of capital contributed.

Public Company

Number of partners: One or more.
Capital (max/min): No minimum capital.
Shareholders and liability: The partners' liability is limited to the amount of capital contributed.

Partnership

Number of partners: Two or more.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is joint and unlimited for all partners.

Limited Partnership

Number of partners: At least one general partner and one limited partner.
Capital (max/min): No minimum capital.
Shareholders and liability: Unlimited for general partner, limited to capital for limited partner if they do not participate to the company management.

Business Setup Procedures

Source: Doing Business - Latest available data.