ASIC Company Register: Who Qualifies and What You Get
Learn how to use the ASIC company register to verify company directors and business status for tenant vetting.
This service allows you to look up official information about registered companies to confirm their current legal standing and leadership. It serves as a primary tool for checking the legitimacy of a business entity through official records.
Who it's for
This service is specifically designed for professionals who need to perform due diligence on corporate entities. A primary user is property managers who must vet corporate tenants to ensure they are legitimate before entering into long-term lease agreements. By using these records, you can ensure that the entity signing your rental contract is a legally recognized business.
What you get
When you use this register, you gain access to essential verification details. You can confirm the current legal status of a company to ensure it is active and compliant with national requirements. Most importantly, you can perform a director check to verify the identities and roles of the individuals running the company. This helps ensure that the people signing legal documents on behalf of the business have the actual authority to do so.
What it costs you
Using this service is not free. You will be required to pay a small search fee for every individual entity you wish to look up. The cost is applied per search, so if you are vetting multiple potential tenants, you will need to account for these individual fees in your administrative budget.
The catch to know
The biggest risk is a failure to look deep enough into the company's history. While you can easily verify that a company exists and is currently active, you might miss the fact that the company is in liquidation. If a company is undergoing liquidation, it may not have the financial stability to meet its lease obligations, so checking this status is a critical step in your vetting process.
How to apply
- Access the official government portal to begin your search.
- Enter the specific company name or the unique identification number for the entity.
- Review the search results to find the specific information you require, such as director details or company status.
- Complete the process by paying the required fee for the information retrieved.