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Close Corporation/Company Restoration
Close Corporation/Company Restoration is a process by which a Close Corporation/Company gets re-registered after being de-registered. The main cause of de-registration of a Close Corporation/Company is failure to submit annual returns.
In order for a Close Corporation/Company to be restored, the following documents and information is required:
- Certified ID Copy of Member/Director
- Name of Close Corporation/Company
- Close Corporation/ Company Documents.
- Income Tax No. ( If applicable )
- If Close Corporation/Company owns immovable property, full property description & Deeds office where property was registered and Title Deed. ( If applicable )
- If Close Corporation/Company owns immovable property, a Municipal Account in the name of the Close Corporation/Company is required ( If applicable )
- Power of attorney which gives us authority to restore the Close Corporation/Company (which will be sent to you via email once the order is placed).
- Bank Statements showing activity during de-registration period.
- A signed rental agreement that existed during the period of de-registration.
Note that the above price includes drafting of the affidavit, obtaining letters from Department of National Treasury and Department of Public Works, drafting of advertisement and placing it in the local newspaper and Deed Office Search (Windeed)
The advertising process takes 21 business days. Only after 21 business days have lapsed can we proceed further with the application.
This Close Corporation/Company Restoration process takes 15-30 business days after the advertisement process. However, If there is a delay from CIPC due to excessive workload, the process could take longer.
If a Close Corporation/Company had immovable property, obtaining the Letters from Department of National Treasury and Department of Public Works could take 2-4 months, along with the normal waiting period.
Once the Close Corporation/Company has been restored, you will receive documents which inform you that the status of your Close Corporation/Company is undergoing a ‘Re-Instatement Process’. Once you submit annual returns within 30 days upon receipt of these documents, your Close Corporation/Company will automatically change its status to ‘In Business’
The above price includes submitting annual returns once the status of the Close Corporation/Company changes to ‘Re-Instatement Process’, but does not include the CIPC fees for annual returns.
Cost for Close Corporation/Company Restoration: R 2 599.00