1. How does it work?
Step 1 – fill in the form below
Step 2 – pay the R1083 and email us the proof of payment.
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 11849, Centurion,0046
As soon as we have received your documents your company will be registered within 3 -5 working days (if you selected express registration). You will get SMS and e-mail notifications on the progress of your order.
2. What is the turnaround time?
Reserving a name takes 1 working day.
After we have received your documents, (certified ID’s , Power of attorney forms) in the post your company will be registered within 3 – 5 working days on express services and 2 – 3 weeks on normal registration.
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 1 working day 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)
[box type=”note” border=”full”]IMPORTANT: If names are rejected an amount of R90 is payable for every new name application lodged)[/box]
5. We will e-mail you the registration documents within 3 -5 working days on express service and 2 – 3 weeks on normal registration after your documents have been received.
6. 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 Calypso Accounting Business Registrations user you will be able to do this by going to the Register Company for Income Tax section. The Company will then be issued with an Income Tax Number which should not be confused with the Company Registration Number with CIPC.
You will also have to register the Company for Workman’s Compensation Insurance (COIDA). 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.
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 characterized 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 compulsory. Shareholder can also be a director.
Public Company/Non Profit Company – 3 Directors minimum