Let`s say this right away: there is no such thing as a “better” business structure. Branches of foreign companies are covered by the Companies Act 1973 and must be registered as “external companies” with the South African Companies Register in Pretoria. An external company is not required to appoint a local board of directors, but must appoint a South African resident authorized to accept litigation services and communications provided to the company. It must also appoint a registered local auditor and establish a head office in South Africa. If you are not a South African citizen, you can still register a business. Take a look at the following blog post we did: Foreigners in South Africa This can be done online through the Companies and Intellectual Property Commission (CPIC) and requires you to create a client account and deposit ZAR 400 into the CIPC bank account, then complete and submit several forms and a copy of the company`s incorporation documents (founding judgment, etc.). Other documents include: a certified copy of the applicant, a certified copy of identity or passport of all founders, directors and representatives, and a power of attorney (if applicable). The company must be registered with the South African Companies Register through the Companies and Intellectual Property Commission (CIPC) within 21 days of the company being incorporated. A company is constituted by the filing of a certificate of incorporation (CoR 14.1) and a deed of incorporation (CoR 15.1 A-E) and, where appropriate, other supporting documents depending on the company. These forms can be downloaded from the CPIC website. You need to determine which business structure is best suited to your company`s establishment and goals.
Registering a business in South Africa has become so easy – the need to leave your home and queue endlessly has long since disappeared in our technologically advanced world. Below, we`ve outlined a step-by-step tinkering on how to easily register your business through the Companies and Intellectual Property Commission (CPIC) website portal www.cipc.co.za. Public companies must have at least three directors. Only listed companies can be listed on the Johannesburg Securities Exchange. Public limited companies must be audited and prepare audited financial statements, which are presented annually to their shareholders. Depending on the size of the listed company, the company may also be required to have an audit committee and a social and ethics committee. However, there is a business structure that would be most beneficial for your specific business. A foreign company that does not wish to establish a subsidiary in South Africa may want to set up a representative office or branch instead. While there are important differences between these types, there is no appropriate distinction between the registration of a representative office and that of a branch. Thus, both would have the same basic steps. 5. Private companies: They are similar to what used to be called tight companies.
Changes to private companies include fewer disclosure and transparency requirements, which are no longer limited to 50 shareholders, and a board of directors that must consist of at least one director. The name of a private company must end with the term “Proprietary Limited” or “(Pty) Ltd”. When you register a company on the CPIC website portal, you have the option to create a standard incorporation protocol (MOI) or a custom incorporation protocol. The MOI contains the “rules” of the company, how decisions are made and how the company is structured. For the purposes of this article, we will only deal with the registration of a company with the standard MOI. 1. Not-for-profit corporations: A corporation incorporated for charitable purposes or any other purpose related to one or more cultural or social activities or community or group interests. First, your business should have a name. Choosing a clear and powerful name also requires huge marketing and branding efforts. A name that shows the relevance of what is offered or provided should also be kept in mind – if you simply call your IT business “Sparkle & Shine”, customers could be terribly confused as to the services your business offers! ICPC and Interior exchange information.
Once an identification number is added to the site, the person`s first and last name will be displayed. If the person was recently married, the maiden name will likely still be displayed, as CPIC and Home Affairs may take some time to update their systems. The married person must have requested the new ID, received the new ID (not a temporary ID), and then you can submit the check-in. It will be on the old last name, but then you can request a change of director to solve this problem. Alternatively, you can wait for the last name to play properly, we have found that it takes some time and you will not be notified. Home Affairs also “says” cipc if a person is blacklisted, he will not be able to be an administrator during a company registration if this is the case, the system will not allow you to click Next. Yes, it`s as simple as that. Our management consultant also reminds you of important dates and extensions.
Your business registration must be renewed one year after your first registration (through annual reports) – this is required by law by the South African government and we can help you through this simple process. State-owned enterprises are corporations like municipalities, public companies are large corporations that want to sell their shares to the public on the stock exchange, and personal liability companies only apply to very specific professionals such as doctors, lawyers, engineers, accountants, etc. A joint-stock company can only be registered by e-mail. Therefore, this step is optional, but still recommended. For this process, a proposed name is reviewed, approved and reserved. This procedure verifies that the proposed name is not already entered in the register of names. Whether you`re making a profit or you`re the size of your business, there are advantages to registering your business in South Africa. These include company name protection, tax incentives, financial support and corporate compliance. Note: The transfer of the reserved name does not result in an extension of the validity period of the reserved name (the initial validity period only applies to another customer code) or a change of company name. Although our research revealed that many sources were talking about this step and the registration requirement, there was no information on registration costs and processing time. This is probably because the process will depend entirely on the local district council. Domain name registration should be part of your trademark protection process.
In short, SEO refers to how you make it easier for Google to identify your website. This makes it easier for Google to see when your site is relevant to the specific services or products that users are looking for. All members, signatories and/or any other person who may act on behalf of the private company must provide the same information and documents as indicated above, as well as written confirmation that they are authorized to act on behalf of the CC. If you`d like to speak to a professional who will guide you through the process of registering your business, you can join Startwise. Startwise is an online consulting platform designed exclusively for South African SMEs to have access to experts in their field to help you in all aspects of starting your own business. Yes. Under CPIC, a corporation may be registered under the Companies Act, 2008, with or without a company name. A registered company without a reserved name will continue to receive a registration number, which automatically becomes the name of the company. For foreigners who want to do business in South Africa, there are a number of types of businesses, including branches and subsidiaries. Representative offices or outsourced non-revenue-generating operations are not part of a formal process and therefore effectively fall under the same process as a branch, but with lower tax obligations. Once you`ve decided which business structure is best for you and what your new business name will look like, the next step is to reserve your business name.