F.A.Q
What are the important things to remember with regards to the Private Company registration
Please note that constitutions will not be retyped and reprinted during the registration process. Therefore it is very important that the parts that are completed by hand are written neatly and legible. The constitution will be registered as submitted.
Can we/I reserve a name for the Private Company before reistration
Yes, it is compulsory to reserve a name and obtain approval for the name before registering a co-operative. The fee is included in the whole registration process of the Private Company payable for this service.
What is the registration turn around time for a Private Company
Turnaround time is 2 - 3 working days from the date of tracking.
What is annual returns
All companies (including external companies) and close corporations are required by law to file their annual returns with the CIPC on an annual basis, within a prescribed time period. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business/trading, or if it will be in business in the near future. The annual return may be regarded as a type of annual “renewal” of the company or close corporation registration.
How do I file annual returns
Annual returns can only be filed for you by one of our experienced agents
What will happen if the company/close corporation/cooperative 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 The legal effect of the deregistration process is that the juristic personality is withdrawn and the company or close corporation ceases to exist.
When must a company/close corporation file annual returns
It is an annual filing and it differs for companies and close corporations. Companies must file (regardless as to whether it was active or not) within 30 business days starting from the day after its date of registration. Close corporations must file (again regardless as to whether it was active or not) starting from the first day of the month it was registered up until the month thereafter. It may still file after such period, but an additional penalty fee will be applicable.
If a company or close corporation has filed 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.
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 return replace other statutory forms
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.
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.
What is a Private Company (Pty Limited)
A Private Company (Pty limited) is treated by South African law as a separate legal entity and has to register as a tax payer in its own right. A Private Company (Pty limited) has a separate life from its owners and is required by the The Companies Act, No 71 of 2008 to perform rights and duties of its own. The owners of a Private Company (Pty limited) are shareholders. A company may not have an interest in a close corporation.
How does one register a Private Company
Please contact our experts on support@lynettenorris.co.za
What is a business plan?
A business plan is a road map that provides directions so a business can plan its future and helps it avoid bumps in the road. It especially outlines the business goals and details how you plan to achieve those goals.
Why is a security business plan important or a requirement?
As part of the PSIRA business registration process it is a requirement to have a business plan in place for your security business
Is workman's compensation compulsory in South Africa?
Yes it is mandatory to register with Workman’s Compensation as the government fund will compensate all claims for occupational hazards and diseases.
