Enter your keyword

Latest Updates

FREQUENTLY ASKED QUESTIONS

In order to register a new Company (Pty) Ltd, the following should be provided:

  • 4 names in order of preference
  • Directors’ ID copies
  • Directors postal and physical address
  • Company’s postal and phyical address
  • Signed Power of Attorney (POA) provided by us

There is no limit to the amount of directors a company can have

With us , the process normally takes 5-7 working days.

In order for us to proceed with a Name Reservation application, we need to be provided with a choice of four names in order of preference.

A shelf company is a company that has been registered for the sole purpose of being resold. It has not traded thus having no assets or liabilities. A registered company is a company that has been registered and will be run by the same person.

It is preferred to register a new Company because a Shelf Company has an unknown history. Although it is already registered, a shelf company would need to have a lot of changes done to suit the new owners, e.g. changing the directors/members and details and maybe the name of the company as well. These changes added all together could be more costly than registering your own company and could take a lot longer to be processed.

Yes there is an annual fee of R100 to be paid to CIPC on the anniversary date of your company’s registration. If these fees are not paid on time, a penalty fee of R50 will be charged.

A new Company can be registered but a business permit is required to open up a business bank account

The purpose of an MOI is to protect the interests of the company’s shareholders.

We have it emailed to you unless you want to have it delivered to you. This would incur courier costs.

The Memorandum of Incorporation (MOI) is a document that has the directors/incorporators details specified on them. The purpose of an MOI is to protect the interests of the company’s shareholders.

The definition of “black” is a term used to identify Africans, Coloureds and Indians who are citizens of SA by birth or descent or who became citizens of SA before 1994.

Please click here for further information on Workmen’s Compensation

After the implementation of the new Companies Act (Act 71 of 2008) no CC can be registered and no conversions from Companies to CCs will be allowed. However, existing CCs will continue in operation.

The Close Corporations Act stipulates that the registered name and number must always be used.

No, Only natural persons or a inter vivos trust/testamentary trust can become a member.

– Private companies are subject to fewer disclosure and transparency requirements.

– A private company will still be prohibited from offering its shares to the public and the transferability of its shares will be restricted, but it may now have more than 50 shareholders.

– The name of a private company must end with the expression “Proprietary Limited” or its abbreviation “(Pty) Ltd”.

– The board of a private company must comprise at least one director, or any other minimum number as stipulated in its MOI. Each incorporator is a first director of the company.

Public Companies are characterised by the following:

  • Their MOI permits them to offer shares to the public
  • The name of a public company must end with the word “Limited” or its abbreviation, “Ltd”.
  • A public company must have at least three directors.
  • A public company enables a prospective shareholder to effectively structure their tax affairs.

A Non-Profit Company is a company that is incorporated for a public benefit or other object as required by Item 1(1) of Schedule 1 of the Companies Act. Its income and property are not distributable to its incorporators, members, directors, officers or persons related to any of them, except as reasonable compensation for service rendered. Three (3) persons and 3 directors may form an NPC.

A Personal Liability Company must end with the word “Incorporated” if it meets the criteria for a private company, and its MOI provides that the directors and past directors are jointly and severally liable, together with the company, for any debts and liabilities of the company that were contracted during their respective terms of office.

The deregistration process could take up to a period of 3 months depending on efficiency of the process from the authorities.

The purpose for the filing of such Annual Returns is to ensure that a Company or Close Corporation is still in business/trading,and will continue trading in the future.

Therefore, if annual returns are not filed within the prescribed time period, the assumption is that the Company or Close Corporation is inactive, and as such CIPC will start the deregistration process to remove the Company or Close Corporation from its active records.

CIPC will assume that the Company or Close Corporation is inactive, CIPC will proceed with the automatic deregistration process.

Companies and Close Corporations are required to file annual returns once a year within a prescribed time period. Companies must file within 30 business days after the anniversary date of its incorporation while Close Corporations must file within the anniversary month of its incorporation up until the month thereafter.

If a Close Corporation converts to a Company, all outstanding CIPC Annual Returns must be up to date before the conversion process.

YES. Once a Company or Close Corporation has been finally deregistered, the company or close corporation or any third person may apply for re-instatement. Upon the processing of the re-instatement application, the status will be changed to “in re-instatement process”.

In order to commence with the restoration process, the following information and documents are required:

  • Company or Close Corporation documents
  • Directors or Members ID copies
  • Whether or not the Company or Close Corporation owns immovable property
  • Municipal Account in the name of the Company or Close Corporation
  • Power of Attorney which gives us authority to restore the Company or Close Corporation on your behalf
  • Bank Statements showing business activity during de-registration period

Co-operative is a business where a group of people get together voluntarily to obtain a product or service.

  • The number of members the co-operative will have along with their ID copies (minimum three 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 (provided by us)
  • Objective of the Co Operative

If you want to reserve a name for your Co Operative, you will have to provide us with four names which will be submitted with the whole application.