Registering a cc in South Africa

by Jaca
(Pretoria, South Africa)

Thinking of registering a cc in South Africa? It’s easier and quicker than most people think.

Please Note:No CCs can be registered in SA anymore. Please scroll to the bottom of this page to read a formal note by the Companies and Intellectual Property Commission (CIPC)

I assume you have made your choice between registering a company or a cc. A cc is a recognised legal entity. It is very easy to register and run. If you lack the resources to run a big company, a close corporation could be your best bet for now. Below are the steps you need in registering your company in South Africa.

1. Reserve a company name with the Registrar of Companies at Companies and Intellectual Property Registration Office (CIPRO) in the DTI campus in Pretoria. You may do this electronically at www.cipro.co.za after registering as a customer. This will take anything from a few hours to 5 days.
Cost= R50.

2. After the name is approved and you receive a letter to that regard, you may start your lodgement of detailed documentation. The name may be rejected when there are existing businesses with similar names, or the name has some other conflicts like misleading names and names that don’t clearly indicate what the business is about when necessary.

You may start the lodgement online but you will have to print and sign the lodgement form and submit it to CIPRO offices in person. You need to attach your letter of name reservation and the letter from your auditor. I have to explain that the letters from the auditor are not necessarily from a firm, but from a certified accounting officers. Getting your own auditor and lawyer is advisable when you are running your business professionally by the way. This will take anything from a 1 to 5 days or more when CIPRO is too busy.
Cost= R150.

3. You will get your certificate from CIPRO offices in hard copies or emailed to you if they have your email address. And you are ready to do business in South Africa.

Till the next instalment, which will be on opening a business bank account. Stay well. Remember to go to comments below and rate this article, ask follow up questions or simply write your own article to help small businesses in South Africa.

Jaca (Your business partner)
www.pretoria-south-africa.com

ps. Remember to list your business in our directory. Nothing tastes sweeter than FREE publicity.

"The new Companies Act of 2008 comes into operation on the 1st of May 2011 and will replace the current Companies Act of 1973.
Take note of the following important aspects:

No new close corporations will be registered from the 1st of May 2011, but new companies can be registered. For more information on New Company registrations click here.
No company conversions to close corporations will be registered.
Provision has also been made for close corporations to convert to companies without any payment in terms of the New Companies Act.
Any future changes to a close corporation would still have to be made in terms of the Close Corporations Act for the following:

• CC amendments (CK2/CK2A)
• Letter for accounting officer resignations
• Liabilities exceed assets letters
• Annual returns

The following processes will be administered in terms of the new Companies Act of 2008:

• Name Reservations
• Liquidations
• Deregistration
• Restoration – normal restorations and annual returns

" by Companies and Intellectual Property Commission (CIPC)