What Is A Company?
A company is a recognized legal structure through which you can run your business. It is seen as an independent separate legal personality known as a juristic person. This distinction is made because a company has its own set of tax rules and compliance responsibilities. This separation from the owners/directors (known as natural persons), provides a limited liability to the owners/directors. Various types of companies can be registered depending on what business you are doing however in most cases a private company is suitable for business.
Who Can Register?
A company can be registered by any South African who can produce a valid certified South African ID, is over the age of 18, has a residential address and can pay the prescribed fee. A company can also be registered by any non South African who can produce a valid certified passport, is over the age of 18, has a residential address and can pay the prescribed fee.
When a company is registered the directors/incorporators take on the responsibility of maintaining the company in an up to date, compliant legal status. Just like every person has to complete their tax return once a year, A company also has to complete an annual tax return to maintain a compliant status. Depending on the structure of the company, where it does business or its size there may be additional registrations a company is obliged to have in place. If you are in doubt it is best practice to seek the advice of an accountant/tax practitioner.
CIPC Annual Return Requirement
The CIPC (Companies and Intellectual Property Commission) are the authority on all companies in South Africa. When you register a company it is registered with the CIPC. To keep your company in an active compliant state you have an obligation to complete your annual return with the CIPC every year on the anniversary of the registration date of your company. Failure to file your annual return for consecutive years will result in your company being automatically de-registered.
How We Work
Our goal is to make your experience of registering a company as simple and easy as possible, we want to enable you to start trading as soon as possible without worrying about the hassle of registrations. To that end we streamline our information gathering technique with use of online forms on our website, our client portal system & E-mail. All we need from you is to sign the completed documentation we send you and send it back to us. We then represent you at the CIPC and ensure your company is registered in the fastest possible time frame.