Small and medium businesses in South Africa usually take the form of Sole Proprietorships, Partnerships, Close Corporations or Private Companies. If a business has a number of owners who wish to limit their personal liability, they you may want to incorporate the business i.e. operate the business as a Close Corporation or a Private Company. This requires registration of the company or close corporation (CC) with CIPRO (Companies and Intellectual Property Registration Office) which is part of the Department of Trade and Industry. A private company now also requires the appointment of a company secretary and must submit yearly annual returns to CIPRO.
Assistance is available for selection of the most appropriate legal structure, for registration of the legal entity, purchase of shelf companies or CCs as well as in formalizing changes to the register (directors, members, accounting officer, addresses, etc.).
Should you require a discussion with a specialist in company secretarial matters, registrations, etc. please click here.
Submitted by: Ross Fyffe, Executive Associate of the Institute for Independent Business International