- Company Registration
REGISTERING A COMPANY
An adequate company law system which incorporates an effective company registration process is of utmost importance to the economy and to business. Such a legal system serves to afford appropriate protection to business owners from direct business liabilities and a vehicle to participate in commerce.
The following is a list of examples of the types of companies that can be registered in terms of the Companies Act 2008:
A company is regarded as a juristic person if it has been incorporated by registration by the the Companies and Intellectual Property Commission (“the CIPC”). A juristic person is regarded as having the legal powers and capacity of an individual. If a business is not registered as a company (or close corporation), it is not regarded as a juristic person. A company which has been incorporated by registration has all of the powers and capacity of an individual, except to the extent that -
When you apply to have a company registered, the registration of a company with a Standard Memorandum of Incorporation (“MOI”) can be selected. A company can also have a customised MOI.
Upon registration of a company a certificate of incorporation and a registration number will be issued by the CIPC.
RESERVING A NAME OF A COMPANY
In some circumstances it will be advisable to also reserve a corporate name for the company. You may apply for a maximum of four names in each application to reserve a name. The corporate name that you decide to reserve will be rejected if it would be easily confused with an existing company’s name. If you do not opt to apply for a name reservation as part of the registration process, the company will be registered under its registration number.
APPOINTING A PUBLIC OFFICER AT THE SOUTH AFRICAN REVENUE SERVICES (“SARS”)
Every Company should appoint a public officer within 3 months after its registration. A Public Officer of a Company is the representative of the Company in respect of the Company’s Tax obligations. The appointment of a Public Officer is a manual process and cannot be done on-line.
An adequate company law system which incorporates an effective company registration process is of utmost importance to the economy and to business. Such a legal system serves to afford appropriate protection to business owners from direct business liabilities and a vehicle to participate in commerce.
The following is a list of examples of the types of companies that can be registered in terms of the Companies Act 2008:
- a Private Company with a Standard MOI;
- a Private Company with a customised MOI;
- a Public Company;
- a Non-profit company (“NPC”);
- a NPC with members;
- a personal liability company- this type of company could be suitable for an association of professionals such as civil engineers;
- If you wish to run a Franchise business, you would register a private company.
A company is regarded as a juristic person if it has been incorporated by registration by the the Companies and Intellectual Property Commission (“the CIPC”). A juristic person is regarded as having the legal powers and capacity of an individual. If a business is not registered as a company (or close corporation), it is not regarded as a juristic person. A company which has been incorporated by registration has all of the powers and capacity of an individual, except to the extent that -
- a juristic person is incapable of exercising any power or having any capacity of an individual (for example to enter into a marriage or drive a motor vehicle); or
- the company’s memorandum of Incorporation (“MOI”) provides otherwise.
When you apply to have a company registered, the registration of a company with a Standard Memorandum of Incorporation (“MOI”) can be selected. A company can also have a customised MOI.
Upon registration of a company a certificate of incorporation and a registration number will be issued by the CIPC.
RESERVING A NAME OF A COMPANY
In some circumstances it will be advisable to also reserve a corporate name for the company. You may apply for a maximum of four names in each application to reserve a name. The corporate name that you decide to reserve will be rejected if it would be easily confused with an existing company’s name. If you do not opt to apply for a name reservation as part of the registration process, the company will be registered under its registration number.
APPOINTING A PUBLIC OFFICER AT THE SOUTH AFRICAN REVENUE SERVICES (“SARS”)
Every Company should appoint a public officer within 3 months after its registration. A Public Officer of a Company is the representative of the Company in respect of the Company’s Tax obligations. The appointment of a Public Officer is a manual process and cannot be done on-line.