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A co-operative is a distinct form of enterprise that provides services and/or products to its members. Profits, known as surpluses in a co-operative, are divided among members in relation to the amount of the business each member did with the co-operative.
By registering a co-operative, you are creating a legal entity with certain powers to act on its own and certain responsibilities. Before registering a co-operative, take note of the important record-keeping that need to be done by a co-operative
To register a Co-operative, the following documents and information is required:
- The number of members the co-operative will have along with their ID copies (minimum five Members)
- Four proposed names in order of preference.
- The postal and physical address of the co-operative.
- Co-operative contact details (this includes email addresses and Telephone numbers)
- The details of the intended members. (this includes addresses, contact numbers and email addresses)
- A limited Power of Attorney in which you give us the authority to register a company on your behalf, signed by all intended member/s (which will be sent to you via email once the order is placed).
The Co-operative Registration process is divided into two steps:
- Step 1:Name Reservations will be made, which will take 5-10 business days. However, if there is a delay from CIPC due to system errors or work load, the process could take longer.
- Step 2:Once the name has been approved, the Co-operative Registration process will take place, which will take 12 weeks. However, If there is a delay from CIPC due to excessive workload, the process could take longer.
Once the Co-operative has been registered, you will receive the following documents via email or post:
- Corporate certificate of Confirmation
- Registered Co–operative Constitution
- Registration Letter
Cost for Co-operative Registration: R 1 799.00