In South Africa, you can deregister a company for various reasons. For example, you may wish to close your business because you no longer intend to trade or because it has become insolvent. You can also transfer the registration of a company to another person. The process is simple but involves certain steps that need to be followed in order to accomplish the desired result: closing your business.
Steps to deregistration your company
To deregister your company, you’ll need to visit the eFiling website. From there, you’ll be able to click on the “Deregister” button and fill in your company’s name and registration number.
Send a written notification and EMP123 / EMP123T form to SARS. You can send the notification and form via email, post, or fax to the region where the entity is registered.
The notification must be signed by the director or company secretary of your company and include:
- The name of your business as it appears in SARS records
- Your directors’ names and contact details (email addresses)
- Your business registration number
It’s important to know that you can close your business for any number of reasons. You may want to do it because you have retired or because it is not profitable anymore, or maybe you are selling your company and want to remove it from the records. In any case, the process of closing a business in South Africa is slightly different depending on whether it is a registered company or an unregistered one.
Conclusion
If you need more information on deregistration, please call the Company Deregistration Unit on 0861 240 007.
