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cc income tax returns for the 2011 financial year must be submitted to sars on or before
we wish our clients a merry christmas and a happy new year. please note telephonic
the new companies act has now been implemented introducing quite a few changes in the registrations of companies.
Register A Company
1. Is our fee all inclusive or are there any other fees payable?
Our fee includes 1st name reservation, full registration and Memorandum of Incorporation (MOI - standard form). The only additional fee payable is R75 should your 1st set of 4 names not be approved by CIPC. R75 is then charged for each set of 4 names submitted to CIPC.
2. Can Close Corporations (CC's) no longer be registered?
As from 1 May 2011 no new CC's can be registered, and Private Companies (PTY) must be registered instead. CC's already registered will continue to exist or can be converted into a Company (Pty).
3. How does the process of registering a new company works?
Once we have received your order and payment we submit your names to CIPC for approval. The turnaround for name approval is currently 3 working days. We will advise of the outcome via e-mail. Once a name has been approved and we have received your Power of Attorney and ID documents in the post we will submit your application for final registration with CIPC. CIPC currently takes 6 weeks to finalize the registration process.
4. How will I receive my registration documents?
As soon as we received the confirmation of registration document from CIPC we will e-mail it directly to your registered address. This document will include your Company's registration number as well as Memorandum Of Incorporation (MOI) and share certificates.
FOR ALL THE INFO YOU NEED ON THIS SPECIFIC SERVICE PLEASE CLICK ON THIS "FAQ" BUTTON.
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Registration on our website is free and will take 1 minute. REGISTER HERE.
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IF YOU DON'T FEEL LIKE DOING IT ONLINE YOU CAN DOWNLOAD THE APPLICATION FORM HERE
62 kB | DownloadPrivate Company Registration Form
1. How does it work?
Step 1 - fill in the form below
Step 2 - pay the R485 online via credit card or any other method.
Step 3 - each director must complete, sign and post the power of attorney form(s) together with certified copies (signature of Commissioner of Oath must be original) of ALL directors of the Company to PO Box 28845, Danhof,9310
We do the rest. As soon as the Company is registered you will receive the incorporation certificate directly via e-mail. You will get SMS and e-mail notifications on the progress of your order.
2. What is the turnaround time?
Reserving a name and registering a new company with CIPC takes anything between 2 - 6 weeks
The process works as follows:
1. All directors must sign and post the original Power of Attorney form (at the bottom of this page) to us ASAP together with Certified Copies of the ID's of all the directors.
2. In the meantime we submit your proposed names to CIPC for approval.
3. Turnaround time is currently 3 working days to get feedback from CIPC on the names submitted.
4. If name is approved we will e-mail you the name reservation document and submit final registration docs together with the Power of Attorney form to CIPC. (Note we can only proceed with this step once we have received the ORIGINAL Power of Attorney Document and certified ID's)
IMPORTANT: If names are rejected an amount of R75 is payable for every new name application lodged)
5. CIPC will then issue the registration document (time frame varies depending on the workload at CIPC).
6. We will e-mail you the registration documents upon receiving it from CIPC. We will also issue share certificates at no extra charge.
7. You will get an e-mail and SMS update on each stage of the process.
3. What happens after the Company has been registered?
As soon as you have received your registration document you will have to register your Company with SARS. As a myfinance-online user you will be able to this by going to the "Register Company for income tax" section. The Company will then be issued with a Income Tax Number which should not be confused with the CC Registration Number with CIPC.
You will also have to register the Company for Workman's Compensation Insurance (WCA). This is mandatory and can be done on this site by going to the 'Register a business with the Compensation Fund' section. The members will also have to determine if the Company will have to register for VAT, PAYE and UIF. All of this can be done on this site. Visit the services section for more info in this regard.
As from 1 September 2008 Companies's must annually submit a form and pay over a prescribed fee to the Registrar. You can submit your Annual Company Return with CIPC online here.
The Company will also have to prepare financial statements every year end (normally February) to enable the CC to complete the Income Tax Return (IT14). Proper bookkeeping of all transaction are necessary. It will be the duties of the directors to see to it that proper records are kept. For assistance or more information in this regard please visit the "Request Accounting Services" page.
4. What is a Private Company (PTY) Ltd?
Private companies are comparable to companies of the same status under the Companies Act, 1973 and are characterised by the following:
- They are subject to fewer disclosure and transparency requirements.
- A private company will still be prohibited from offering its shares to the public and the transferability of its shares will be restricted, but it may now have more than 50 shareholders.
- The name of a private company must end with the expression “Proprietary Limited” or its abbreviation “(Pty) Ltd”.
- The board of a private company must comprise at least one director, or any other minimum number as stipulated in its MOI. Each incorporator is a first director of the company.
5. Directors of a Company
Section 76 of the Act, in particular, requires a director when acting as a director, to act:
- in good faith and for a proper purpose
- in the best interests of the company
- with the degree of care, skill and diligence that may reasonably be expected of a person
- carrying out the same functions in relation to the company as those carried out by the director
- having the general knowledge, same skill and experience of that director – a reasonable man/women test.
Number of Directors
Private Company – 1 Director Minimum. Can have shareholders but not compulsary. Shareholder can also be a director.
Public Company/Non Profit Company – 3 Directors minimum
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This service costs R 485.00. This form will be added as "Register A Company" in your basket.
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