How to Transfer a Business Name [Definitive Guide]

Transferring a business name can feel confusing if you’re new to the process. 

Maybe you’re selling your company to a friend, or perhaps your partnership is becoming a sole proprietorship. 

Whatever the situation, it’s important to understand exactly what’s involved so you can avoid any missteps. 

This guide explains everything you need to know about transferring a business name in Australia, so let’s get started!

What Do You Need To Know About Business Name Transfers

A business name is essentially the public identity of your enterprise. 

When someone takes over an existing business or when a current owner reshapes their structure, ownership of that name has to be transferred. 

This change allows the new holder to operate under the same name legally, ensuring customers experience a seamless transition in who’s behind the brand.

How does it work?

Transferring a business name is a two-step process. 

First, the existing owner submits a request to transfer, which leads to the cancellation of the original registration after a set period.

Second, the new owner registers the name for themselves using the transfer number provided. If you mix up these steps, you might cause a delay or, worse, lose the right to the name if the transfer number expires.

This transfer process also applies if you’re changing your business structure. 

For instance, a switch from a sole trader to a company often requires a new Australian Business Number (ABN). 

Since the entity holding the name changes in that scenario, a formal transfer is needed. These rules help maintain clarity about who owns which business name.

When Do You Need to Transfer a Business Name?

There are quite a few common scenarios when transferring a business name is needed:

1. Selling Your Business

Suppose you’ve built up a successful café and decide to sell it. 

The new owners want to keep the same name – after all, it’s recognised in the neighbourhood. You’d need to transfer the business name to them so they can continue using it without interruption.

2. Gifting the Business Name

Sometimes, people pass along a business name to a relative or a friend. 

Maybe you’ve mentored someone in your field, and you’re ready to let them take the reins. This situation similarly requires a formal transfer.

3. Forming a New Partnership or Replacing a Partner

Partnerships evolve over time, especially when one partner leaves or a new partner joins. 

If you hold a partnership agreement that allows adding or removing partners, you may bypass the need to transfer. 

However, if the agreement doesn’t allow such a change, or if you’re forming an entirely new legal entity, you’ll need to initiate a formal transfer of the business name.

4. Restructuring

If you’re switching from a partnership to a company or from one company entity to another (for instance, after a merger), that might also trigger a name transfer. 

Even if you still run the show, the new structure typically requires a new ABN, which means transferring the name from the old entity to the new one.

What To Consider Before the Business Name Transfer

Before setting out to transfer a business name, it’s helpful to double-check the following points:

1. Renewal Periods Don’t Carry Over

If you’ve paid for a business name renewal that’s good for the next two years, that prepaid time doesn’t move across to the new owner. 

Once the new owner registers the name under their details, they begin with their own fresh renewal schedule.

2. Refunds Aren’t Issued to the Previous Holder

After transferring, you cannot request a refund for the unused portion of your registration. Even if you paid for three years and still had one year left, no refunds apply.

3. Transfer Number Validity

The transfer number, which gets issued after the current owner lodges the cancellation/transfer request, remains valid for four months and 28 days. 

It’s vital for the new owner to act in that period. If they don’t, the name could become available for anyone else to register.

4. Overlap in Registration

You might see two registrations for the same name on the official register for up to 28 days: one belonging to the previous owner (set for cancellation) and one registered by the new owner. This overlap is a normal part of the process.

5. Ensuring Your ABN Is Up to Date

If you’re transferring a name because you changed your ABN, confirm that all other business details (address, contact information, partnership agreements) are current before starting. 

That saves you from any confusion about who holds legal responsibility once the transfer is complete.

Step-by-Step Business Name Transfer Process

For the Current Owner

Let’s start with your perspective if you currently hold the business name.

1. Link Your Business Name to Your ASIC Connect Account

⚡Why it matters: Without linking your business name, you can’t access the transfer tools you need. It also makes your records more organised and ensures any notifications go to the correct place.

2. Check or Update Your Business Email Address

⚡Why it matters: Missing emails can lead to confusion or delays, particularly if you’re expecting the transfer details to arrive in your inbox.

3. Submit the Cancellation/Transfer Request

⚡Why it matters: Once you submit this request, the transfer process starts. You’re effectively notifying the authorities that you’re done with the name and allowing someone else to register it.

4. Get Your Transfer Number

⚡Why it matters: The new owner can’t proceed without this number. It’s the essential link that lets them claim the name as their own.

5. Complete Your Role in the Process

⚡Why it matters: Once your transfer request is in motion, your own ownership is winding down. 

Any further involvement with the name ends after you provide the transfer number and the new registration is finalised.

Example:

Suppose Lana has a handmade soap brand called “Lana’s Naturals.” 

She sells her business to her cousin, Mia. 

Lana logs in to ASIC Connect, requests the transfer, and receives her transfer number the next day. 

She emails Mia that number, officially passing the baton so Mia can register “Lana’s Naturals” under her own name.

For the New Owner

Now, here’s the process from the new owner’s perspective.

1. Obtain the Transfer Number

⚡Why it matters: Without the transfer number, there’s no way to register someone else’s existing business name.

2. Register the Business Name Through ASIC Connect

⚡Why it matters: This is the official step that brings the business name into your legal ownership.

3. Any Required Fees

⚡Why it matters: Your ownership officially starts once you’ve completed registration and payment. Any previous renewal periods under the old owner do not count toward your new term.

4. Confirm Registration

⚡Why it matters: This final confirmation cements your role as the new registered holder, giving you the legal right to use the name for trade.

Example: 

Returning to Lana and Mia’s scenario, once Lana provides Mia with the transfer number, Mia logs in to ASIC Connect. 

She hits “Register a Business Name,” enters the transfer code, and pays for a three-year registration. 

She receives an email confirming she now officially holds the name “Lana’s Naturals.”

Frequently Encountered Scenarios and Pitfalls

While transferring a business name is straightforward in principle, a few pitfalls can trip you up if you’re not careful:

Delayed Registration by the New Owner

A common mistake is forgetting to register the name after receiving the transfer number. Remember, there’s a four-month and 28-day window. If that time expires, the business name can become publicly available to anyone else.

Changing ABNs

If you’re the same person but you’re switching from one ABN to another – for example, transitioning from a sole trader to a company structure – you still need to transfer the business name because, legally, it’s moving from one entity to another.

Partnership Agreements

If your existing agreement allows adding or removing partners without forming a new entity, you might avoid the need to transfer. 

Still, confusion often arises here. Review your partnership agreement carefully to see if a formal transfer is actually required.

Spam Folder Oversight

Owners sometimes never see their transfer number because it gets caught in a junk mail filter. To avoid this, add ASIC’s email address to your safe contacts or at least check your spam folder when you’re expecting the transfer details.

Forgetting to Update Business Details

Even after the transfer, you might need to update addresses, contact details, or authorisations with your bank, suppliers, and relevant government bodies. Failing to do this could lead to complications, like missing important notices or mixing up financial transactions.

Real-World Examples

Let’s walk through two real-world-style examples to see how these situations play out beyond a simple one-owner exit:

1. A Family Partnership Changing Hands

Sophia and Mark have run a small catering business together as a partnership. 

They used a partnership agreement that allows them to remove one partner without forming a whole new entity. 

Mark decides to retire, and Sophia’s sister, Jade, comes on board. 

Because the partnership agreement explicitly states they can add or remove partners, they don’t need to transfer the business name. 

Instead, they log in to ASIC Connect, remove Mark from the business name registration, and add Jade as a partner. The legal structure remains intact, and the business continues smoothly with minimal disruption.

2. Rebranding vs. Transferring

Gemma runs a local bookstore under the name “Words & Wonders.” 

She decides not to sell her store but wants to give the brand identity to her niece, who’s starting a separate online bookstore with the same name.

In this case, Gemma initiates the transfer of “Words & Wonders” to her niece. 

Gemma herself then registers a new name, “Gemma’s Great Reads,” for her own store. This scenario highlights how an owner might retain a business while allowing the brand name to move to someone else.

Completing the Transfer if Your ABN or Structure Has Changed

An important note is that if you have an existing business and only your ABN has changed – perhaps due to a shift in your legal structure – you’ll likely need to go through the transfer process as well. 

Even if you’re the same person or group of people, business name registrations are tied to ABNs, so a new ABN means a new entity in the eyes of the system.

Here’s what to remember:

Though it can feel like extra paperwork, going through these formalities prevents legal grey areas later.

Stopping or Canceling a Business Name Transfer

Sometimes, people have second thoughts or a business deal falls through. 

If you’re the current owner and you’ve already lodged the transfer request, you do have the option to stop the process before the new owner registers the name. 

You’d need to contact ASIC promptly and explain the situation, confirming that you no longer wish to transfer. 

Keep in mind, if the prospective new owner has already used the transfer number to register the name, it’s usually too late to reverse.

How Can ANNA Help?

Registering a business name in Australia can feel overwhelming, especially when you’re also managing bookkeeping, tax obligations, and day-to-day finances. 

ANNA offers a one-stop solution that simplifies registration and streamlines your business operations, letting you focus on growth rather than paperwork.

⚡Quick Name Availability Check

Use ANNA’s Name Checker to see if the business name you want is available. Enter your preferred name, and you’ll receive instant feedback – no guesswork needed.

⚡Seamless Registration and Setup

Once you decide on a name, ANNA handles your ASIC registration. You can open your business account right away, which speeds up the process of starting or running your enterprise without unnecessary red tape.

⚡Integrated Financial Tools

Beyond registration, ANNA provides a full suite of services to make running your business simpler:

⚡Dedicated Support

ANNA’s team of financial specialists is available any time to help with:

Ready to Get Started?

If you want to register your business name and keep your accounting, invoicing, and tax obligations in check – all on one platform – ANNA is the answer. 

Get started with ANNA One and register your business name today!