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Company Registrations:
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More about company registrations
Company registration in South Africa is administered by the Companies and Intellectual Property Commission (CIPC) under the legislation contained in the Companies Act, 2008. The CIPC, as we know it today, was replaced by The Companies and Intellectual Property Registration Office (CIPRO) in May 2011. At the same time, the New Companies Act was implemented, changing the way businesses need to do registrations.
The New Companies Act accommodates several types of companies that may be registered. The type of company that one would register for a business is a function of the objectives of the entity. For example, an entity that intends to earn a profit could be registered as a private company, and so forth.
When completing company registrations, the CIPC allows for the registration of an entity with or without a company name. Where a company is registered without a company name, its name upon registration defaults to the company number and shall remain so until formally amended. Companies that are lodged for registration with a name may apply for between 1 to 4 names during each application process.
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Company registration process explained
The MMS company registration process involves these steps:
Every company falls within a specific category, each with specific regulations and requirements. The MMS Group team will counsel you in determining your company structure. We will also explain the different types of companies to you so that the entity registered on your behalf suits your business objectives. The types of companies that may currently be registered in South Africa are:
Non-profit companies:
These companies are established for the benefit of the public, or other objectives relating to cultural or social activities, or communal interests
Profit companies:
These companies’ primary objective is to trade and make money. It can be any type of company, from a retail store to an insurance company or a real estate firm
Personal liability companies:
These companies’ name end with Incorporated (Inc.). In such organisations, past and current directors are responsible for the company’s debts and liabilities
Public companies:
A public company’s shares are available to the public and is listed on at least one stock exchange
Private companies:
Private companies’ names need to end with ‘(Pty) Ltd.’ These companies have fewer transparency requirements than public companies and have a board consisting of at least one director
Your company name must be selected in order for the registration process to be completed. We recommend that your chosen company name is confirmed for availability prior to attempting to register the name, which is a task our team can assist you in fulfilling. The selected name should be simple enough for clients to remember it and be strongly associated with your business.
Once decided, we then take the lodgement of your paperwork to CIPC as part of your registration application. When done correctly, business owners can generally expect to wait 3-5 days for the completion of their registration. Should your business registration not be approved, our team will assist you in rectifying any issues to ensure a successful registration.
We invite you to contact us for your company registration or to find out more about any general company secretarial matters.
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