Company Registration

A Director runs the company; the Shareholder owns the company and they can be the same person. Minors (people under 18) may not be Directors of companies but they may be Shareholders.  We do not recommend having minors as Shareholders as they do have functions to perform such as the appointing of Directors.    

Yes, provided that they have valid passports and that the company has a physical South African address.

Yes, absolutely.  Depending on what you would like to do, you can change pretty much everything on a company after its registered as long as you follow the correct procedure.  It is important to advise CIPC of any changes to your company such as address, financial year end and any Director changes.  

This is entirely dependent on CIPC and what their turnaround time is.  Sometimes it can take a day but it usually doesn’t take longer than a week.   Most (Pty) Ltds are processed within a week from submission. 

We will send you all of your documents in a PDF format via email. They are; CoR 14.3 (Company Registration Certificate), CoR 14.1 (Notice of Incorporation), CoR 14.1A (Notice of Directors), CoR 15.1A (Memorandum of Incorporation), Share Certificates, Minutes of the Inaugural Meeting, FICA complaint Shareholders Declaration.  These are all the documents you will need to open a business bank account for your company.

A juristic person is a legal entity which has the same rights and judicial capacities as  a natural person.  Some examples are a Company or a Trust.

Annual returns are a tax levied by CIPC for your company to remain registered with CIPC and comply with company law.  Each year on the anniversary of your company’s registration the annual returns are due even if your company did not trade or made a loss.  The annual returns dues are calculated on annual turnover.  If you fail to settle your annual returns, penalties will be levied against the company.  If the annual returns and penalties continue to remain outstanding, CIPC may start a Deregistration process.  This is the point when bank accounts are frozen and fixed properties become assets of the lender.  You may be able to restore the company if you are still trading.  This is a time consuming and costly process which is best avoided.  

A limited power of attorney is used on a one time basis to complete a specific task.  The agent (the person to who the power of attorney is given) can only complete the specific task for which the limited power of attorney has been identified and has no authority to act on behalf of the principal other than what is assigned to them in the limited power of attorney. Once the transaction is completed, the limited power of attorney ceases.

There are a number of reasons to register a company for your business.  One of the most important is limited liability which is the concept of separating your personal assets with those of the company.  In the event of someone suing the company, the personal assets of the owners are protected by the limited liability.  Registering a company also lends credibility and legitimacy to the business.  Many government departments and funders require that the company is registered for tenders and financing. A registered company will also signal credibility and build trust with a customer base.