Company Creation Sites Compared – Which one is best for you?

Did you know that even during the 2020 pandemic, 237,994 new companies were registered in Australia?

Did you also know that the number of SMSFs in Australia is growing at an average rate of 15% per annum, with 20,000 new SMSFs registered in 2018/2019?

It is no wonder that there are now a number of new online platforms that makes the task of creating companies easier, less time consuming and more cost effective.  

Here, we profile five platforms that allow you to create and register entities online with ease.

We profile the background of each company, the products they offer and the Prices. For the platforms that provide numerous products, we gave the price range for products in the same category and the links to prices.

ECOMPANIES

eCompanies

eCompanies provides an online company registration service. It is created by seasoned IT professionals. Its goal is to provide a premium service without the premium price tag. At the heart of eCompanies is a proprietary software that is linked to ASIC using the EDGE protocol.

eCompanies also offers a Pro Account for ASIC registered agents who regularly register companies.

It is an authorised ASIC software provider.

PRODUCTS
Register a Company
Domain Registration
Discretionary Trust
ABN Registration
Document Printing
Business Names
Company Name Reservation
Discretionary Trust Deed

PRICES

Price Table – eCompanies

ENTITY MAKERS

Entity Makers

Entity Makers provides an online platform that allows users to create as many corporate entities as they need with an all-in-one subscription fee. It works with a leading Australian tax law firm to create the trust entities which are regularly updated for the latest legislative changes.

Entity Makers is an authorised ASIC software provider.

PRODUCTS
Company
SMSF
Discretionary Trust (NEFP)
Discretionary Trust (EFP)
Fixed Unit Trust
Non-Fixed Unit Trust
Hybrid Trust

PRICES
Entity Makers offers a three-tier pricing model for its all-in-one subscription service: Starter Plan, Premium (Monthly) and Premium (Annual).

STARTER PLAN
The Starter Plan allows you to trial and access all entities on the Entity Makers platform for 14 days for free. 

Entity Makers is the only online platform that gives a free trial for all its entities.

PREMIUM (MONTHLY)
The Premium (Monthly) Plan allows you to create and register unlimited number of companies, SMSFs and Trusts for $149 a month plus GST. You only pay the ASIC Fee. You can discontinue your subscription at any time.

It is great for firms who need more flexibility and only create limited number of companies at a time.

PREMIUM (ANNUAL)
The Premium (Annual) Plan allows you to create and register unlimited number of companies, SMSFs and Trusts for $1,428 per year or $119 a month plus GST. You only pay the ASIC Fee. This is a 20% discount on the Premium (Monthly) Plan.

It is great value for money for firms who create a large number of entities annually.

Price Table – Entity Makers

CLEARDOCS

ClearDocs

Cleardocs provides a wide range of Australian legal documents online for creating Companies, SMSFs, Family Trusts, HR and Estate Planning. It is owned by Thomson Reuters. Its service includes free, local support and a legal helpline

Cleardocs is an authorised ASIC software provider.

PRODUCTS
Company (18 Documents)
Trusts (17 Documents)
SMSF (24 Documents)
Business Services (9 Documents)
Estate Planning (6 Documents)
Employment and HR (3 Documents)

PRICES
There are two pricing options: Pay Per Document or Volume/Enterprise Pricing.

PAY PER DOCUMENT
With Pay Per Document, prices vary depending on the type of document. In the table below, we provide the price range for the different legal documents. For the price of each product, go to the Cleardocs website, choose the type of service and click on the specific document that you want.

Where applicable, they also provide more information for each document: “About Product”, “General Information”, “Benefits” and “Frequently Asked Legal Questions”.

VOLUME/ENTERPRISE
For volume order pricing, you need to contact: sales@cleardocs.com or customer support: support@cleardocs.com or call 1300 307 343.

Price Table – Cleardocs

TOPDOCS

TopDocs

Topdocs provides legal documentation, expert advice and technical support to accountants, financial planners, dealer groups, lawyers and other professional advisers.

It provides a comprehensive range of SMSF, company, trust, estate planning and commercial documentation that is developed and updated by its own lawyers at Topdocs Legal Pty Ltd.

Topdocs is an authorised ASIC software provider.

PRODUCTS
Company (20 Documents)
Trust (25 Documents)
SMSF (Establish & Maintain) (20 Documents)
SMSF (Borrowing) (9 Documents)
SMSF (Income Streams) (12 Documents)
Estate Planning (12 Documents)
Agreements (15 Documents)

PRICES
There are two pricing options: Pay As You Go or Unlimited.

Note that the prices below apply to Professional Advisers only (accountants, financial planners, lawyers, finance or mortgage brokers, or other professional working within the finance or legal industries.)

PAY AS YOU GO
With Pay As You Go, prices vary depending on the type of document. In the table below, we provide the price range for the different legal documents under the “Full-Service Delivery” option. Please go to the website under “PRICING” for specific prices.

For “Full-Service Delivery”, your documents are professionally printed and bound, reviewed by Topdocs legal team when required and delivered by Toll courier.

The other option is “Instant Email Delivery” (available only on selected documents). With this option, your document is emailed to you after completing the order and making the necessary payment.

UNLIMITED
If you create a large volume of SMSFs, companies, trusts or agreements, then the Unlimited option is maybe for you.

With a fixed monthly fee, you will have unlimited access to order new companies, trusts, SMSFs and loan agreements and other high-volume documents such as pension commencements and trust distribution resolutions.

For pricing, you need to request a Topdocs Unlimited Quote or contact 1300 659 242 for more information.

Price Table – Topdocs

NOWINFINITY

NowInfinity

NowInfinity provides online legal documents for creating companies, trusts, SMSFs , loan agreements and more.

It also provides other products such as: Corporate Messenger – an ASIC compliance solution; Super Comply – for managing SMSFs; Trust Register – a cloud based trust register; Class Super – a SMSF cloud accounting software; Class Portfolio for daily investment reporting and Class Trust for automated trust accounting and administration.

PRODUCTS
Company (5 Documents)
Trusts (14 Documents)
SMSF (12 Documents)
                – Reserves (4 Documents)
                – Assets (2 Documents)
                – Pensions (5 Documents)
                – Contributions & Withdrawals (4 Documents)
                – Loans (9 Documents)

PRICES
There are two pricing options: On Demand and Subscription

ON DEMAND
On Demand pricing comes in three options: Digital, Slimline and Hard Copy. The Digital version offers the lowest price whereas the Hard Copy is higher.

The price range quoted below is for the Hard Copy.  The specific price depends on the type of document that you want to order.

SUBSCRIPTION
NowInfinity offers four subscription packages depending on your business needs.

Start-up               $750 / Month
Growth                $1,295 / Month
Pro                         $1,795 / Month
Enterprise           Price on request.

All subscriptions are on a minimum 12-month contract. The monthly subscription price excludes the ASIC fees on document purchases, the GST and printing of hard copy and stamping of deeds.

Price Table – NowInfinity

CLOSING

The best online platform for your firm will depend on the volume of entities you create and the tasks that you do to manage the entities for your clients.

If you do high volume company, SMSFs and Trust registrations then Entity Makers would be the choice for its all-in-one annual subscription fee. It offers the most competitive pricing for high volume entity registrations. For smaller volume, we suggest eCompanies for company registrations.

For high volume registrations and tasks to manage individual entities, Cleardocs, Topdocs or NowInfinity would be a good choice. All of them provide Unlimited pricing so you will have to compare these to see which one offers the best value.

NowInfinity also offers additional applications such as Super Comply for managing SMSFs, Class Super for SMSF cloud accounting and Class Trust for automated accounting and administration.

This article is contributed by DigiLabs, an Information Technology and Digital Marketing Company which delivers innovative SAAS products, custom application development, systems integration, enterprise mobile applications and tools.

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