Frequently Asked Questions

Your Questions Answered.

What payment methods do you accept?

We accept below payment methods:

  • EFT/Bank Transfer
  • PayShap
  • PayPal
How long does company registration take?

Most (Pty) Ltds are processed within a 24-48 hours from submission. This is entirely dependent on CIPC and what their current turnaround time is.

What do I need to register a company?

To register your company you'll need:

  • valid identity document for all Directors; a South African Department of Home Affairs issued ID card or green ID book or a valid foreign passport.
  • For Directors you will need full details, such as residential and postal address, cellphone numbers and email addresses for company registration.
  • Company name options (we recommend 3-4 options)
  • For Shareholders, you will need the residential address and full ID numbers. ID books are not required here unless they are also a Director.
  • For foreign nationals; if you do not reside in South Africa, the company is required to have a South African physical registered address.
What is a director? What is a shareholder? Can they be the same person?

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 during company registration, as they do have functions to perform such as the appointing of Directors. Please note that during the company registration process all of their details, will have to be available.

Can Foreign Nationals be Directors and/or Shareholders during Company Registration?

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

Can I change my company name or Director/s after it has been registered?

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.

What documents will I get when the company is registered?

We will send you below documents in a PDF format via WhatsApp or email:-

  • Company Registration Certificate (CoR 14.3)
  • Notice of Incorporation (CoR 14.1)
  • Notice of Directors (CoR 14.1A )
  • Memorandum of Incorporation (15.1A)
  • CIPC B-BEEE Affidavit-based Certificate
What is a Juristic Person?

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.

What is a Limited Power of Attorney (LPOA)?

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.

Why do I need to register my company?

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.

What is CIPC?

CIPC stands for the Companies and Intellectual Property Commission. It is a regulatory authority in South Africa responsible for the registration of companies and the protection of intellectual property rights.

What are Annual Returns?

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.

When filing the Annual Returns, the company or close corporation MUST also file its latest Beneficial Ownership Declaration as well as its Audited Financial Statements (AFS) or Financial Accountability Supplement (FAS).

Please note that from 1 July 2024 , CIPC will NOT process any company annual returns if Beneficial Ownership has not been filed.

Annual Returns can only be filed electronically.

What must I file with my Annual Returns?

When filing an Annual Return, you will be required to submit the below applications as well:-

  • Beneficial Ownership Declaration
  • AFS / FAS
  • Compliance Checklist
What is AFS and FAS?

AFS stands for Audited Financial Statements, while FAS stands for Financial Accountability Supplement. Both are financial documents that companies may be required to submit as part of their compliance with CIPC regulations.

What is intro to Computers digital course?

It is a course designed to provide learners with a foundational understanding of computer systems and digital literacy.

What is SARS?

SARS stands for the South African Revenue Service. It is the government agency responsible for the administration of tax laws in South Africa, including the collection of taxes and the enforcement of compliance with tax regulations.

What is Private Security Industry Regulatory Act (PSIRA)?

PSIRA stands for the Private Security Industry Regulatory Act. The Mandate of PSiRA derives from the Private Security Industry Regulation Act 56 of 2001. The primary objective of the Authority is to regulate the private security industry and to exercise effective control over the practice of the occupation of security service provider in the public and national interest and in the interest of the private security industry itself.

What is Central Applications Office (CAO)?

The Central Applications Office (CAO) is a registered NON-PROFIT COMPANY (Reg.No.2007/002819/08) that is the only organisation authorised to recruit and process applications for admissions to the Durban University of Technology (DUT), Mangosuthu University of Technology (MUT), University of KwaZulu-Natal (UKZN), University of Zululand (UNIZULU) and most private colleges in KwaZulu-Natal. Our participating institutions offer 1 070 programmes, and with just ONE APPLICATION, you can apply for up to six programmes at any of their member or partner institutions.

What is the National Student Financial Aid Scheme (NSFAS)?

The National Student Financial Aid Scheme (NSFAS) is a South African government entity that provides financial aid to students from low-income households to access and succeed in higher education. It offers bursaries and loans to eligible students pursuing studies at public universities and TVET colleges. NSFAS aims to remove financial barriers to education, ensuring that deserving students can pursue their academic goals.

What is National Credit Regulator (NCR)?

Any person or business that extends credit that does not form part of an incidental credit agreement is required to register as a credit provider with the National Credit Regulator.

The National Credit Act through the Regulator, is designed to promote the development of an accessible and responsible credit market. The NCR thus deals with the registration of credit providers, credit bureaus, and debt counsellors – as well as the enforcement of compliance with the Act.

What Happens if you don't Register as a National Credit Provider?

If a person fails to register in circumstances where credit is provided as provided by the Act both the capital and the interest may be at risk and the entire agreement can be found to be void. We strongly suggest that you consider whether you’re regarded as a credit provider to avoid situations where you could lose your money. Chapter 3, Section 40(3), (4) and (5) of the Act regulates the sanctions that apply to an entity that is required to register as a national credit provider but have not done so. These sections of the Act state:

  • Section 40 (3): “A person who is required in terms of subsection (1) to be registered as a credit provider, but who is not so registered, must not offer, make available or extend credit, enter into a credit agreement or agree to do any of those things.”
  • Section 40(4): “A credit agreement entered into by a credit provider who is required to be registered in terms of subsection (1) but who is not so registered is an unlawful agreement and void to the extent provided for in section 89.”
How to Become a Credit Provider?

Firstly, you (natural or juristic person) will need establish whether you need to register as a credit provider in terms of the Act. If you need to register as a credit provider, the team at MzanziReg can assist you with the registration process:

  1. Review our rates and complete the Online Form below.
  2. Complete the REG 1 form emailed to you by MzanziReg.
  3. Compile the bundle of supporting documents required
  4. Make the total payment into MzanziReg's business bank account
  5. Scan and send your completed REG 1 form and supporting documents to MzanziReg, with your proof of payment
  6. MzanziReg will compile the application for submission to the NCR including correspondence should we require any further information
  7. Submission to the NCR with an approximate waiting time of 8 to 12 weeks
  8. Address any further queries received from the NCR
  9. If all is in order, your will receive your NCR certificate

Firstly, you (natural or juristic person) will need establish whether you need to register as a credit provider in terms of the Act. If you need to register as a credit provider, the team at MzanziReg can assist you with the registration process:

  1. Review our rates and complete the Online Form below.
  2. Complete the REG 1 form emailed to you by MzanziReg.
  3. Compile the bundle of supporting documents required
  4. Make the total payment into MzanziReg's business bank account
  5. Scan and send your completed REG 1 form and supporting documents to MzanziReg, with your proof of payment
  6. MzanziReg will compile the application for submission to the NCR including correspondence should we require any further information
  7. Submission to the NCR with an approximate waiting time of 8 to 12 weeks
  8. Address any further queries received from the NCR
  9. If all is in order, your will receive your NCR certificate
What is the role of the National Credit Regulator?

The National Credit Regulator has to:-

  • Register credit providers, credit bureau and debt counsellors, and monitor the conduct of these parties;
  • Registers Payment Distribution Agencies (known as PDAs) - who handle money on behalf of consumers under debt review and help distribute their funds to credit providers;
  • Registers Alternative Dispute Resolution Agents (known as ADRs) - who assist resolve consumer disputes with credit providers.
  • Educate and create awareness of the protection which the Act offers;
  • Research the credit market and monitor access to credit and the cost of credit to identify factors that may undermine access to credit, competitiveness and consumer protection;
  • Advise government on policy and legislation;
  • Receive and investigate complaints and ensure that consumer rights are protected, and refer these to the correct agencies and;
  • Enforce the Act and take action against contravening institutions.
What is The National Credit Act (NCA)?

The National Credit Act (35 of 2005) is part of a comprehensive legislation overhaul designed to protect the Consumer in the credit market and make credit and banking services more accessible. The National Credit Act (NCA) was introduced “to promote and advance the social and economic welfare of South Africans, promote a fair, transparent, competitive, sustainable, responsible, efficient, effective and accessible credit market and industry, and to protect Consumers.”

What is National Consumer Tribunal (NCT)?

The National Consumer Tribunal (NCT) was established in terms of the National Credit Act 34 of 2005. As an independent adjudicative entity, the Tribunal’s mandate is to hear and decide on cases involving consumers, service providers, credit providers, debt counsellors and credit bureaux. The NCT is also responsible for reviewing decisions made by the National Credit Regulator and the National Consumer Commission.

What is the Pricing breakdown for NCR Applications?

MzanziReg Assistance for attending to the compiling of your application and submission to the NCR: R5,999.00 incl. VAT PLUS

The following NCR fees:-

  • Administrative Application Fee: R 550.00
  • Branch fee payable per location/premises from which the applicant conducts registered credit activities: R250.00 per location/premises

Applicable category fees based on the total principal debt amount:-

Fee Category Description Fee
Category 1 Total principal debt equal or greater than R15 billion R330 000
Category 2 Total principal debt equal or greater than R5 billion, but less than R15 billion R190 000 plus 0,001% of the amount by which the total principal debt exceeds R5 billion
Category 3 Total principal debt equal or greater than R1 billion, but less than R5 billion R70 000 plus 0,003% of the amount by which the total principal debt exceeds R1 billion
Category 4 Total principal debt equal or greater than R100 million, but less than R1 billion R16 000 plus 0,005% of the amount by which the total principal debt exceeds R100 million
Category 5 Total principal debt equal or greater than R5 million, but less than R100 million R7 000 plus 0,01% of the amount by which the total principal debt exceeds R5 million
Category 6 Total principal debt equal or greater than R1 million, but less than R5 million R2 500 plus 0,1% of the amount by which the total principal debt exceeds R1 million
Category 7 Total principal debt equal or greater than R500 000, but less than R1 million R2 000
Category 8 Total principal debt equal or greater than R250 0000, but less than R500 000 R1 500
Category 9 Total principal debt less than R250 000 R1 000
What Supporting Documentation will i need to register as a Credit Provider?
  1. Companies and Intellectual Property Commission (CIPC) registration document or other official legal registration document
  2. Copy of share certificate
  3. Certified copy of ID/ Passport document of each member/ director/shareholder/trustee/partner
  4. Signed resolution (provided by MzanziReg)
  5. Bank letter confirming bank account details
  6. Proof of Directorship, Member, or Shareholder of a company or cc (if applicable)
  7. Letterhead containing details of the company’s name, registered business address, details of the contact person, telephone number and email address
  8. Proof of registration with the South African Revenue Services (SARS)
  9. A criminal Clearance Certificate for all the all the members/directors/shareholders/trustees/partners or sole proprietors issued by the South African Police Services (SAPS). The Clearance Certificate must not be older than six (6) months.
  10. Appointment Letter of Financial Accountants with relevent accreditation body to do your yearly company Integrated Financial Reporting.
Will my personal details as a director or member be disclosed in the Annual Returns?

Due to POPIA (Protection of Personal Information Act) the disclosure of personal information e.g., identity numbers have been masked.

  • Only the first 6 digits of a director’s or member’s identity number will be displayed; and
  • The Annual Return filing certificate will not display the identity number, personal address, or contact details of a director or member.
What will happen if the company or close corporation does not comply with Annual Returns?

The CIPC will assume that the company or close corporation is inactive, and as such CIPC will start the deregistration process to remove the company or close corporation from its active records. The legal effect of the deregistration process is that the juristic personality is withdrawn, and the company or close corporation ceases to exist.

Other organizations e.g., banks, Central Supplier Database, service providers may refuse service since the company or close corporation no longer exists. Directors and members active at the time of deregistration may be held liable for all debts.

Must Beneficial Ownership Declaration be filed with the Annual Returns?

Yes. Before being able to file the Annual Returns, the company or close corporation must first ensure that CIPC has its latest Beneficial Ownership Declaration.

Who may file an Annual Returns on behalf of a company or close corporation?

Due to the nature and the content required on an Annual Return, such must be filed by the company or close corporation or its duly authorized representative that is in a position to provide the required information.

When an Annual Return is filed, the company or close corporation will also be required to submit the latest Beneficial Ownership Declaration and AFS/FAS.

If a company or close corporation has filed its tax returns with SARS, is it still required to file Annual Returns with CIPC?

A clear distinction must be made between an Annual Return and a tax return. An Annual Return is a summary of the most relevant information regarding the company or close corporation and is filed with CIPC while a tax return focuses on taxable income of a company or close corporation in order to determine its tax liability to the State and is filed with SARS.

Compliance with the one does not mean that there is compliance with the other. It is two different processes, administered in terms of different legislation by two different government departments.

Will the Annual Returns replace the filing of other prescribed or statutory forms?

No. An Annual Returns is not an amendment form and therefore, such changes or amendments must still be filed. Such changes can either be filed before or after the Annual Returns is submitted.

What are the Annual Returns used for?

Annual Returns are used to determine whether the business is still doing business or will be doing business in the future and to ensure that CIPC has the latest information relating to the company or close corporation. If Annual Returns are not filed, CIPC assumes that the business is dormant and starts the process to remove the business from the register of active businesses. Also, Annual Return may be used to gauge the level of compliance with the Companies Act, especially financial reporting.

How will I know when to file?

CIPC does provide e-mail / SMS reminders to directors (for companies) and members (for close corporations) PROVIDED that correct contact details have been provided to the CIPC when registering the business or updating its detail. If CIPC does not have the correct information, reminders cannot be issued. In such an instance the relevant director or membership change must be affected.

What fee should be paid when filing Annual Returns?

In determining the appropriate fee for the filing of an Annual Return, a distinction must be made between a company and close corporation filing, and the date on which the Annual Return became due, since different fee structures are used for companies and close corporations. Further, in order to determine the year from which the company or close corporation became liable to file Annual Returns, the roll out date for the specific category of entity must be used together with its registration date.

  • Public and external companies – rolled out August 2003
  • Private and incorporated companies – rolled out May 2005
  • Close corporations – rolled out September 2008
  • Non profit companies – rolled out May 2011

If the company was registered 26 June 2009 and it is any other type of company, the first Annual Returns became due in June 2010. Therefore, Annual Returns should have been filed on an annual basis for June 2010 and June 2011, and

Examples (Companies) Examples (Close Corporations)
The company was registered on 26 June 1995. If it is a public or external company, its first Annual Returns became due in June 2003. Therefore, Annual Returns should have been filed on an annual basis from June 2004 until June 2011 and should then continue to be filed annually every year thereafter

If the company is a private company, its first Annual Returns became due June 2005. Therefore, Annual Returns should have been filed on an annual basis as for June 2005 to June 2011, and every year thereafter

If the close corporation was registered on 26 June 1995, its first Annual Returns would be due in June 2009. Therefore, Annual Returns should have been filed on an annual basis for June 2009 to June 2011, and every year thereafter.

If the close corporation was registered on 26 June 2009, its first Annual Returns became due in June 2010. Therefore, Annual Returns should have been filed on an annual basis for June 2010 and June 2011, and every year thereafter.

If the Annual Return became due 1 May 2011 or thereafter, the fee structure under the Companies Act, 2008 must be used. If it became due before 1 May 2011 the Companies Act, 1973 fee structure must be used.

Companies Act, 1973 fee table:

Annual Turnover Private and Incorporated Companies Public Companies External Companies
Less than R10 million R450 R4000 R4000
More than R10 million but less than R50 million R2500 R4000 R4000
R50 million or more R4000 R4000 R4000
Penalty fee for each late lodgment R150 R150 R150
Re-instatement Application (Form CoR40.5) R200

Companies Act, 2008 fee table:

Annual Turnover Filing within 30 business days after anniversary date Filing more than 30 business days after anniversary date
Less than R1 million R100 R150
R1 million but less than R10 million R450 R600
R10 million but less than R25 million R2000 R2500
R25 million or more R3000 R4000
Re-instatement Application (Form CoR40.5) R200

Close Corporations Act, 1984 fee table:

Annual Turnover Filing within 2 months from beginning of anniversary month Penalty for each late lodgment
Between 0 to R50 million R100 R150
R50 million and above R4000 R150
Re-instatement Application (Form CoR40.5) R200
Can a company or close corporation request exemption for the filing and payment of Annual Returns?

A company or close corporation is mandated by law to file an Annual Return annually and therefore, CIPC cannot exempt companies and close corporations from filing/complying with such requirement.

The prescribed filing fees for Annual Returns are legislated, and therefore cannot be waived by the CIPC. The CIPC also cannot make payment arrangements for Annual Returns in “installments” since the prescribed fee must accompany the filing. If the prescribed fee does not accompany the filing, the filing is invalidated and must be re-filed.

If the company or close corporation was dormant/inactive for an Annual Returns period, should it still file and pay Annual Returns?

Yes. The Companies Act, 2008 (and its predecessor Companies Act, 1973) and Close Corporations Act, 1984 do not make a distinction between an active and inactive company or close corporation. Therefore, even if the company or close corporation was inactive, it is still legally required to file and pay Annual Returns.

What will happen if the company or close corporation do not file Annual Returns?

As indicated above, there are cost implications for late filings. Continuous non-filing will result in the company or close corporation being placed into deregistration and eventually being finally deregistered. During the deregistration process or final deregistration, government departments, SARS, banks and other organizations or the service providers of the company or close corporation may refuse to do business with the company or close corporation until such time that outstanding Annual Returns have been submitted.

Deregistration will be automatically triggered by the CIPC when two or more successive Annual Returns are outstanding. During deregistration companies and close corporations will be notified only by e-mail of the pending deregistration . The contact details as per the CIPC records will be used to dispatch the notification. If your contact details are outdated or incorrect, you will not receive such notification.

If finally deregistered, the business will have to be re-instated first before it can continue doing business.

How can the reason for deregistration of my company or close corporation be determined?

The reason for deregistration is definable from the status assigned to your company or close corporation.

  • Deregistration – voluntary deregistration due to voluntary deregistration application from company or close corporation itself.
  • Final Deregistered – finally deregistered due to voluntary deregistration application from company or close corporation itself.
  • AR Deregistration – CIPC placed the company or close corporation into deregistration due to noncompliance with Annual Returns
  • AR Final Deregistered – CIPC finally deregistered the company or close corporation due to its continued failure to comply with Annual Returns.
Which set of financial statements should be used to determine the turnover of the company or close corporation for the purposes of filing Annual Returns?

A company or close corporation must use its approved financial statements for the purpose of determining the turnover for the purpose of filing Annual Returns.

If the company or close corporation was deregistered for non-compliance with Annual Returns, can the company or close corporation still be re-instated (restored)?

Yes. Once a company or close corporation has been finally deregistered, the company or close corporation or any third person may apply for re-instatement upon filing of a form CoR40.5 and if required, supporting documents. Upon the processing of the re-instatement application, the status will be changed to “in reinstatement process” to allow for the filing of outstanding Annual Returns, Beneficial Ownership Declaration and AFS/FAS.

What is FAS? Why do I need to complete it?

FAS is the Financial Accountability Supplement and is now a compulsory part of your annual returns. It is essential that it is accurately completed as failure to do so can result in some pretty hefty fines. If you don’t submit the FAS CIPC will not issue your annual return certificate. .

What happens if I don’t pay Annual Returns?
  • If your annual returns remain unpaid penalties are levied on them.
  • If they continue to remain outstanding, after 2 years, CIPC will start the process to deregister your company.
  • If your company is in the deregistration process, the bank account is frozen as CIPC prepare to close your company permanently.
What is B-BBEE?

B-BBEE, or Broad-Based Black Economic Empowerment, is a South African government policy aimed at addressing the economic inequalities of the past by promoting the participation of Black South Africans in the economy.

It's a comprehensive framework that includes various initiatives focused on ownership, management, skills development, enterprise and supplier development, and socio-economic development. The goal is to create a more inclusive and equitable economy.

Why do I need a B-BBEE certificate?

A B-BBEE certificate is essential for:

  • Tendering for government contracts
  • Doing business with large corporations
  • Accessing certain business funding
  • Compliance with South African transformation policies

We provide same-day affidavit-based B-BBEE Level 1 certificates for newly registered companies.

What is PayShap?

PayShap is a digital payment system in South Africa that allows users to send and receive money instantly using a cellphone number or a PayID as an alias, eliminating the need to share bank account details. It facilitates real-time payments between individuals and businesses across participating banks

Which banks use PayShap?
  • FNB
  • Nedbank
  • Standard Bank
  • ABSA Bank
  • Capitec Bank
  • TymeBank
  • Investec
  • Sasfin
  • Africanbank
  • Discovery
What is PayPal?

PayPal is a Global digital payments platform that allows individuals and businesses to send and receive money online and in person. It acts as a secure intermediary, enabling transactions without directly sharing financial details with merchants or other parties. It Facilitates international transactions and payments.

Users can link bank accounts, credit cards, or debit cards to their PayPal accounts to facilitate payments for goods and services, pay bills, and send or receive money from others.

Are your prices inclusive of all government fees?

Yes, some of our advertised prices include:

  • All government filing fees (CIPC, etc.)
  • Professional service fees
  • Digital documentation
  • Unlimited support during the process

Our compliance manager will provide a detailed breakdown of all costs involved before you proceed.

How does the process work after I make payment?

Our streamlined process:

  1. You complete our simple online questionnaire
  2. Send required documents through our WhatsApp or Email
  3. We prepare and submit all applications
  4. You receive digital documents as they're approved
  5. We provide ongoing compliance reminders

You'll be assigned a dedicated compliance manager throughout the process.

Can I track the progress of my application?

Yes! We provide multiple ways to track your application:

  • WhatsApp/SMS updates at each milestone
  • Email notifications with supporting documents
  • Direct access to your compliance manager

You'll never be in the dark about your application status.

What is Tax Clearance Certificate (TCC)?

A Tax Clearance Certificate (TCC)is written confirmation from the South African Revenue Services (SARS) that a person's tax affairs are in order, at the date of issue of the Certificate.

What is Beneficial Ownership?

It is the process of identifying the individual or “warm body” who ultimately owns or who controls a company.

Can a Trust or a Company be a Beneficial Owner?

No, only a natural person.

Is there a limit to the number of beneficial owners?

No, there can be more than one person who is the beneficial owner of the company.

What is the minimum equity threshold before which a person can be considered a beneficial owner?

5%

Will the public have access to CIPC`s Beneficial Information?

No, it will only be available to law enforcement agencies

What supporting documents are required to file a Beneficial Ownership submission?

Signed mandate, Securities Register, Certified IDs and a Disclosure Diagram

Securities Register vs Beneficial Ownership Register.

A securities register is a list of all the current shareholders of a company. These include Individuals, Trusts and other Companies. The Beneficial Ownership register is a list of only the Individuals who control or own more than 5% of the company.

How is control defined for Beneficial Ownership?

Any individual who has the:-

  • company voting rights
  • right to appoint or remove directors.
  • the ability to materially influence the management of a company.
What is meant by an affected company in terms of Beneficial Ownership?

An affected company is a public company, a state-owned company or a private company if more than 10% of its issued shares have been transferred within 24 months immediately before the assessment (other than to between related persons) or a private company that is a subsidiary of a holding company. Affected companies must have separate Beneficial Ownership and Securities Registers.

Can you hold shares on behalf of other people?

Yes. The individuals whose shares are being held for them by other people in order to remain anonymous are considered to be the beneficial owners.

Do NPCs need to submit Beneficial Ownership information?

Yes and No, If the NPC has members, then Yes; however, if the NPC has no members, then NO

When must you file Beneficial Ownership?
  • 10 days after the registration of the company.
  • With 10 days after any change
  • Within 30 days after the anniversary of the company. (Even if there are not changes)
Does a Trust need to register Beneficial Ownership with CIPC?

No, Trusts are required to register with the Master of the High Court who will share the data with CIPC

If a Trust owns a Close Corporation do you have to register the Beneficial Ownership?

No, the information is already captured with CIPC.The Trust is still required to register with The Master of the High Court and complete the Securities Register with CIPC

If you are the sole director and sole shareholder, do you have to register the Beneficial Ownership?

Yes you do

Is a director of a company a Beneficial Owner?

Not automatically; only if they have the power to appoint or remove other directors.

Will the disclosure certificate list the Beneficial Owners?

No, a disclosure certificate only states if the company is compliant or not.

Are penalties levied for non-compliance of beneficial ownership completion?

Yes

Do close corporations need to file a members` register?

No, as this information is already known to CIPC, close corporations only have to file Beneficial Ownership Interests

Are holding companies required to file a securities register?

No, they only need to file the beneficial owners register

What is a Non-Affected Company?

Non-affected companies are all companies other than affected companies and can combine their Beneficial register and Security Register into one document.

What else do I need to know about this Beneficial Ownership?

In accordance with the General Laws (anti-Money Laundering and Combatting Terror Financing) Amendment Act, 22 of 2022, which amended the Companies Act, 2008, companies are required to submit Beneficial Ownership information to CIPC within days of the company`s initial registration.

From 1 July 2024, CIPC is enforcing beneficial ownership declarations alongside annual return filings which means that companies can no longer file annual returns without a valid Beneficial Ownership declaration.

Additionally, each time there is a change of beneficial ownership, a new declaration is required.

CIPC requires both a security register and a beneficial ownership register which we will compile for you. All you need to do is complete the online application, sign the mandate and upload your ID`s or passports for foreigners. We will file the submission with CIPC who will issue a Beneficial Ownership filing certificate once they have checked and verified the information.

What types of companies can be registered in terms of the New Companies Act 71, 2008?
  1. Private company (Pty) Ltd
  2. Public company (Ltd).
  3. State-owned company (SOC)
  4. External company
  5. Personal liability company (Inc).
What is a private company?

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.
  • State-owned company (SOC)
  • The name of a private company must end with the expression "Proprietary Limited" or its abbreviation "(Pty) Ltd".
  • Personal liability company (Inc).
  • 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.
What is a public company?

Public companies are comparable to companies of the same status under the Companies Act, 1973. They are characterised by the following:-

  • Their MOI permits them to offer shares to the public but restricts limits or negates their right of pre-emption.
  • The name of a public company must end with the word "Limited" or its abbreviation, "Ltd".
  • State-owned company (SOC)
  • The name of a private company must end with the expression "Proprietary Limited" or its abbreviation "(Pty) Ltd".
  • A public company must have at least three directors.
What is a state-owned company(SOC)?

State-owned companies were often incorporated or registered under the Companies Act, 1973 but were not recognised in that Act as requiring separate legislative treatment in respect of certain matters to avoid conflict or overlap with other legislation specifically applicable to them, and not to companies. An SOC is either a company defined as a "state-owned enterprise" in the Public Finance Management Act 1of 1999, or is owned by a municipality as contemplated in the Municipal Systems Act 32 of 2000, and is otherwise similar to an enterprise as referred to above. The name of a state-owned company must end with the expression "SOE Ltd".

What is a external company?

An external company is a foreign company that is carrying on business or non-profit activities within the Republic. It must register with the Companies and Intellectual Property Commission (CIPC) within 20 business days after it first begins to conduct activities within the Republic as an external non-profit company (NPC) or as an external company.

What is a non-profit company?

A Non-Profit company has the following characteristics:-

  • They are incorporated for a "public benefit purpose".
  • Income and property may not be distributed to the incorporators, members, directors or officers of a non-profit company, except for reasonable compensation for services rendered by them.
  • The name of a non-profit company will end with "NPC".
  • A minimum of three persons, called incorporators, must complete and sign the MOI.
  • A minimum of three directors must be appointed.
  • All of a non-profit company's assets and income must be used to advance its stated objectives, as set out in its MOI.
  • Non-profit companies are subject to a varied application of the Act, as set out in section 10.

A special set out fundamental rules for non-profit companies is set out in Schedule 1 of the Companies Act, 2008. According to these rules, the objects of non-profit companies remain subject to the current principles. Furthermore, on their dissolution, non-profit companies are restricted in terms of the distribution of any residual assets. These special rules also include various other matters unique to non-profit companies

What is a personal liability company?

A personal liability company is comparable to companies contemplated in section 53(b) of the Companies Act, 1973. Its name must end with the word "Incorporated" it meets the criteria for a private company, and its MOI provides that the directors and past directors are jointly and severally liable, together with the company, for any debts and liabilities of the company that were contracted during their respective terms of office.

Who qualifies to act as an accounting officer of a company or a close corporation?

The person should be a member of one of the following Accounting and Auditing professions:-

  • The South African Institute of Chartered Accountants (SAICA)
  • Auditors registered in terms of the provisions of the Auditing Profession Act, 2005(CA)
  • The Southern African Institute of Chartered Secretaries and Administrators (ICSA)
  • The Chartered Institute of Management Accountants (CIMA)
  • The South African Institute of Professional Accountants (SAIPA)
  • The IAC who have obtained the Diploma in Accountancy (IAC)
  • The Association of Chartered Certified Accountants (ACCA)
  • The Chartered Institute of Business Management (MCIBM)
  • The South African Institute of Business Accountants (SAIBA)
  • The South African Institute of Government Auditors (SAIGA)
What is a partnership or joint venture?
  1. This is when two or more people decide to conduct a business together; all partners bear equal responsibility for debts incurred.
  2. It is advisable to consult a legal expert to draw up a written partnership agreement, this contract is the only requirement needed to set up a partnership and could be done without a lawyer.
  3. A partnership agreement should deal with the following issues: formation, profit sharing arrangements, salaries, banking arrangements, changes of partners, liquidation, responsibilities of partners.
  4. Its therefore much better to register a new Company with the name you intend to trade with. This name is protected by law (we do a name reservation, which gives you exclusive ownership of the business name)- if somebody tries to register the same name, they will be not be allowed to register thereby protecting your business name.
  5. A partnership is not allowed more than 20 partners, except in certain instances.
  6. All partners are required to include all income from the partnership in their personal tax returns (IT 12) available from the Receiver of Revenue (this only carries the cost of postage - some banks offer assistance with the completion of this form free of charge as a customer service).
What is Income Tax Return (ITR12)?

And Income Tax Return (ITR12) is a form that SARS requires all individuals (including provisional taxpayers) to complete and submit to SARS once every year.

The form is used to declare your income, deductions and tax credits to SARS, so that SARS can calculate how much you need to pay, or the refund due to you.

What is IRP5?

An IRP5 is the employee's tax certificate that is issued to him/her at the end of each tax year detailing all employers/employee related incomes, deductions and related taxes. The form is used to declare your income, deductions and tax credits to SARS, so that SARS can calculate how much you need to pay, or the refund due to you. It is used by the employee specifically to complete his/her income tax return for a specific year.

What is Income Tax Return (ITR14)?

The ITR14 return is a legal declaration to SARS and by signing, you agree that the information is accurate.You are obliged to ensure that a full and accurate disclosure is made of all relevent information as required in the ITR14 return.

What is SARS eFiling?

SARS eFiling is an online platform for the submission of returns and declarations and other related services.

When should I register for VAT?

The value-added tax (VAT) registration threshold was raised from R300 000 to R1m.

You can voluntary register your business if you make a minimum turnover of R20 000 per year. The VAT application can only be done after the Company has been registered and you have opened a bank account.

A Tax Invoice must have the following information:

  1. The words 'TAX INVOICE' must shown.
  2. Date of tax invoice and invoice number.
  3. Name and address of your client
  4. The person supplying the tax invoice, the name of the CC, address and VAT registration number.
  5. The VAT amount shown separately at 15% or 0% (VAT exempt)
  6. All partners are required to include all income from the partnership in their personal tax returns (IT 12) available from the Receiver of Revenue (this only carries the cost of postage - some banks offer assistance with the completion of this form free of charge as a customer service).

Your payment must reach SARS on or before the due date, every 2 months.

VAT Registration can be done by our accounting officer. His application forms will be automatically forwarded to you after your CC has been registered.

Do you offer payment plans for your services?

We only offer below payment option:

  • Full upfront payment (recommended for fastest processing)

Contact us directly to discuss payment arrangements that work for your business.

How do I receive my documents after registration?

All documents are delivered digitally:

  • Email with password-protected PDFs
  • WhatsApp delivery for urgent documents
  • Physical copies available for additional delivery fee

Your documents include: Certificate of Incorporation, B-BBEE Certificate, Tax Number Letter, and more.