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Personal Liability Company (INC) Registration
A Personal Liability Company also known as a ”INC” is another type of company that does not differ much from a (Pty) Ltd. A Personal Liability Company specifically suits a professional such as an Auditor or an Attorney who wants to register a company for his or her practice. The only difference is that the directors are jointly and severally liable for the company’s debts.
A Personal Liability Company ends with “Inc.” or “Incorporated”
To register a Personal Liability Company (INC), the following documents and information is required:
- The number of directors the company will have along with their ID copies
- Four proposed names in order of preference.
- The postal and physical address of the company.
- Company contact details (this includes email addresses and Telephone numbers)
- The details of the intended director/s. (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 director/s (which will be sent to you via email once the order is placed).
The Personal Liability Company (INC) Registration process is divided into two steps:
- Step 1:Name Reservations will be made, which will take between 2 – 3 business days. However, If there is a delay from CIPC due to excessive workload, the process could take longer.
- Step 2:Once the name has been approved, the Company Registration process will take place, which will take between 5 – 10 working days. However, If there is a delay from CIPC/SARS due to excessive workload, the process could take longer.
Once the INC has been registered, you will receive the following documents via email:
- A registration certificate COR 14.3
- A Notice of Incorporation COR 14.1
- Confirmation of the initial directors appointed to the company COR 14.1A
- Memorandum of incorporation (MOI) COR 15.1B
- Share certificate (as required)
Cost for INC Registration: R 1 199.00