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New Company Registration from R599.00
Unsuccessful people make their decisions based on their current situations. Successful people make their decisions based on where they want to be.
Services we offer
New Company Registrations R599.00
(Includes the following:)
- Name reservation
- Company registration certificate (COR14.3)
- Memorandum of Incorporation (MOI) (COR15.1A)
New Non-Profit Company Registrations (NPC) R999.00
* must have a minimum of 3 directors
(Includes the following:)
- Name reservation
- Company registration certificate (COR14.3)
- Memorandum of Incorporation (MOI) (COR15.1C)
New Incorporated Company Registrations (Inc.) R1299.00
* this is for professionals with practice numbers (e.g. lawyers, doctors)
(Includes the following:)
- Name reservation
- Company registration certificate (COR14.3)
- Memorandum of Incorporation (MOI) (COR15.1B)
New Public Company Registrations from R2299.00
*These are companies that wish to offer their shares to the general Public. They can also decide if they want to trade on the JSE or not. Example of such companies are Telkom, MNET, Sasol etc.
(Includes the following:)
- Name reservation
- Company registration certificate (COR14.3)
- Memorandum of Incorporation (MOI)
New External Company Registrations from R2899.00
*These companies are entities registered in another country other than South Africa, who now wishes to get that specific company also registered in South Africa. These companies must have at least 3 directors and one South African representative. It must also have a South African registered office.These companies do not need to reserve a name, it automatically adopts the name and Memorandum of Incorporation as registered in another country
(Includes the following:)
- Name reservation
- Company registration certificate (COR14.3)
- Memorandum of Incorporation (MOI)
Other Services
- COMPANY AMENDMENTS
- Company director change from R499.00
- Company address change from R299.00
- Company name change from R799.00
- Company annual returns from R650.00
- CLOSE CORPORATION AMENDMENTS
- CC member change from R499.00
- CC address change from R299.00
- CC name change from R699.00
- Conversion from CC to PTY from R899.00
- CC annual returns from R350.00
We also offer
Why do you need to register a company?
A registered business allows you to create a separate business banking account. You will receive a separate income TAX number as well, another great way to keep your personal matters outside of your business.
All funding providers will require that you have a registered business entity. Banks and credit providers largely offer two credit options, business and personal. Both avenues are tailored to the needs of the entity.
If you’re also planning on seeking government funding or assistance, your business needs to be registered. Registering your business also gives your company legitimacy. Your customers can trust that you’re a reputable business and will deliver on your promises.
Your products and services will naturally have an identity, a product name or something that uniquely distinguishes you from everyone else in your market. Registering your business gives you measure of identity protection. You can now put your name on your product without someone else cloning your products with your name on it.
You can tender
A lot of business can be gained through tendering for it. But you can not tender unless you are a registered business. You can use the shares to raise money.
Customers trust registered businesses. When you register a business, it means that you are serious about trading and you inspire confidence to your market.
Types of Companies
Private Company Registration
(Pty) Ltd
- A private company is also a legal (juristic) person where the liabilities of its shareholders are limited. This means on completion of the company registration, the company is liable for its own debts and not the shareholders personally.
- The shareholders own the company and appoint the directors to run it on their behalf (a shareholder can also be a director).
- A private company can have unlimited shareholders. In a private company, if a shareholder wants to sell his shares he must first offer it to a fellow shareholder in the same company before he can sell it to the general public.
- Since the introduction of the new Act no auditors are required when registering a new (Pty)
Public Company Registration
Ltd – Reg No: year/123456/06
- A public company can freely trade its share with the public without permission of other shareholders.
- These type of companies are listed on the Johannesburg Stock Exchange (JSE). For example: Old Mutual, Standard Bank and Pick & Pay
Incorporations
Reg No: year/123456/21
- Incorporations are virtually the same as private companies but are used exclusively to register professionals such as accountants, lawyers and engineers.
- The only difference from a private company registration is that all current and past directors are jointly and severally liable, together with the company, for the debts of the company contracted during their period of office – it is effectively just like a partnership.
- The MOI used for Incorporations is the CoR15.1B
- All the Directors must also be the shareholders (No juristic shareholder allowed)
Close Corporations (CC)
Reg No: year/123456/23 – Although new CC’s can’t be registered, Amendments on existing CC’s and Annual Returns can still be done.
Since the introduction of the new Act on 1 May 2011 new CC’s can no longer be registered. CIPC will however maintain existing CCs for an indefinite period. This means member changes and name changes can still be done on condition the annual returns are paid up which is why it is important to understand CC’s.
- A Close Corporation is a legal entity and therefore the member(s) have the protection of limited liability.
- A maximum of ten natural people or a trust is allowed to hold membership in a CC. There is no limitation in respect of the number of employees in the Close Corporation.
- At all times 100% of the membership in the CC must be owned. This means that if there are 5 members, all with equal membership (20%) and one member desires to resign the remaining 4 must take up his membership and now all will own 25% each. This means that all parties must agree to any membership change.
- A CC requires a bookkeeper to be appointed.
- CC’s can be converted to (Pty) Ltd’s
Non Profit Company Registration (NPC)
Reg No: year/123456/08 – (previously known as the Section 21 Company)
Since the introduction of the new Act no new Section 21 Companies can be formed, they have now been replaced with a NON Profit Company or (NPC) which is basically the same thing just with a different name.
- A NPC is usually a non-profit company is a company incorporated for public benefit or other object relating to one or more cultural or social activities, or communal or group interest.
If you wish to receive grants or donor-funding, you are required to register with the Department of Social Development. Non-profit companies registered with the Department of Social Development can apply for funding at the National Lottery Board.
- The most important aspect of NPC is that there are NO SHAREHOLDERS and therefore no profits which is why it is called a Non Profit company.
- An NPC requires a minimum of 3 directors. (NB If the NPC is going to apply for tax exemption from SARS then the directors cannot be related family members.)
- SARS does not automatically exempt NPC’s from tax and the NPC must apply to SARS and prove their case in order to be exempt from tax.
- NPC can’t sell any of its assets for a profit but must donate it to a similar organisation.
- The bulk of the income it generates must go the object of the business.
- The standard MOI (CoR 14.1C) which is drafted by CIPC is accepted by the Tax Exemption Unit for SARS this means that the MOI does not have to be modified to include Section 30 (which deals with the tax exemption for NPC) of the Income Tax Act. The company must just give a written under taking that it will comply with Section 30 of the Income Tax Act.
Annual Returns
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 (effectively 2 months) It is important to note that CIPC does not allow access to file the returns before the due date.
All Companies that require an audit must also submit their audited financial statements. The rest of the companies will have to submit a financial accountability statement ( CoR 30.2) in the near future
The amount of money a company has to pay to CIPC for its annual returns depends on what type of company it is e.g: CC or (Pty) Ltd (new or old Act) and what the turnover is.
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