Great question. While you can set up a company yourself by applying yourself directly through ASIC, and save yourself money in doing so, there are some benefits in paid services. 

The cost of registering a company is currently $512 (as of 1 July 2021). Company registration packages start from as little as $516 (including the government fee). Most companies offer different packages to suit your needs. For example, you can usually add things like GST registration, legal documents and accounting advice to your package for an extra fee. Still, the basic packages are pretty reasonable and don’t cost much more than if you did it yourself. 

The biggest benefit of going for a company registration package versus DIY is the time and stress savings. Most services are completed online with live agents on hand to answer any questions about your application. They guide you through each part of the process so that you have everything in order to file your application. It’s usually also much quicker when you go do it through a registration package as they’ve simplified the process and have a user-friendly interface to submit all of your documents. In many cases, the whole process can be finalised in just a few hours (if there are no issues with your application) instead of the longer processing times if you do it yourself. 

The key thing to make the process as smooth as possible (regardless of which option you choose) is to have all of your information ready to submit with your application. That is:

• full name, residential address, and date and place of birth of company directors/secretaries and shareholders

• Address for the registered company office and main place of business.

Hope this helps!