How To Register A Company In South Africa For Free?
You can start the process once you’ve decided what kind of business you’ll be registering.
You’ll need the following paperwork to register your business:
Incorporation Notice
Articles of Incorporation
furthermore some supporting records.
Incorporation Notice
The following information must be in this document:
type of business
Date of incorporation
monetary year’s finish
official address (where your head office is based)
Directors: number
business name
Whether the registration number is the company name
The reservation’s name and number
a list of four candidates for the Commission to review.
Articles of Incorporation
The following information must be in this document:
how many directors or alternate directors the company has
How much equity is there?
supplementary records
In addition to the CoR 14.1, CoR 15.1A for a standard private company, or CoR 15.1B for a customized private company, you will also require the regular administrative documents when registering your business. These are accessible here on the CIPC website for download.
Additional paperwork you’ll need is:
certified copies of your identification, as well as those of any listed initial directors and incorporators.
You will require a power of attorney as a representative to incorporate the new business and sign all the documents if you are absorbing a business into your existing business.
You must present a legitimate name reservation paperwork if you had a business name reserved prior to submitting your incorporation documents.
Costs and deadlines
Registration fees can range from R125 to R475, depending on the type of business.
How Can I Be Certain Receive The Business Name I Want?
Choosing a name. You can choose the name of your business during the business registration procedure, or you can register without a name and the CIPC will generate a name for you to use as a placeholder.
Pick a few possibilities. You must submit many names at once since you cannot use a name that is already registered by another company.
Costs. During the application procedure, you may request up to four names, but each name will run you about R50.
Trading Names Versus Business Names
You may have heard the phrase “trading as,” which refers to a company employing its “trade name” rather than its official business name.
What’s the distinction?
A trading name is frequently friendlier to customers. Other legal ends, such as Pty Ltd, are not required. McDonald’s is a trade name, for instance. The official company name of the multinational fast-food juggernaut is McDonald’s Corporation, which doesn’t quite have the same ring to it.
However, you’ll also need to register your trade name if you intend to conduct business under a name other than your official business name.
There are business name generators to assist you come up with a great name if you’re having trouble coming up with one on your own.
Can I Open A Business Bank Account At Any Time?
You can apply for a business bank account once your business has been registered and operating for a few months.
The type of business you operate will determine the type of account you require and the documentation you should bring with you when applying.
Call in advance to determine whatever paperwork is required to open a business bank account. The following are what most banks are seeking:
Depending on the type of business you’re running, this can be a certificate or a collection of documents as proof of CIPC registration.
Identity documents: Current IDs for you, your partners, and any other parties who require account access.
You’ll need a reliable proof of address.
