You might be wondering how company registration in South Africa can be done. With all that’s happening this year, the pandemic, the lockdown, and travel restrictions it might seem difficult to.
In a few easy steps, I will show you how to. Registration of a Company in South Africa has never been this easy. Using digital tools, you can do it all in the comfort of your home. Today, I’ll help you by giving you a step-by-step guide to company registration in South AFRICA online.
In this post, we look at two ways on how to register a company in South Africa in 2021. One is a self-registration procedure using e-filling with CIPC or you can use a reputable firm to do it on your behalf.
Each method has its pros and cons. The major difference between them being, a self-registration process is tedious and requires a lot of effort and time. I’ll take you through these options and let you choose the best.
Below, I have laid out a step-by-step DIY on how to register your company simply by using the Companies and Intellectual Property Commission (CIPC) website portal, www.cipc.co.za.
Step 1: Create an Account
Make your way onto the CIPC eServices website. Enter www.cipc.co.za on a new tab in your web browser. From the homepage, navigate to and click the Customer Registration link.
On the next page, you are required to enter your identity number before being prompted to enter the required personal and contact information. Complete all required fields
Voila! The first step is done.
Step 2: Name Your Business
Every business should have a name. You need to come up with a great name for your business. Your business should be an easily recognizable brand. Keep in mind a name that bears relevance to what is being offered or provided.
For instance, simply naming your I.T. business “Sparkle & Shine” might have customers terribly confused as to what services your business provides! So, make sure you choose a great name for the sector you are in.
Once you have decided on a name for your business, navigate from the CIPC eServices website to Transact, and from the dashboard menu that appears click Name Reservations.
Here you will be asked your first name choice and three additional names should your first choice not be available.
Submit and you will receive a tracking number for the name reservation as well as an email confirming the name reserved. This document is referred to as COR9.4.
Save this email and attachment. It’s important.
NB – You may register your business using the registration number as the business name. Interestingly, You can change this at a later stage by reserving the name and then requesting a name change. Although, you will have to amend the MOI of the business after the name change has been successful.
The second step is done!
Step 3: What Type Of Entity Do You Want to be Registered?
Before jumping in blindly to register your business, have you given much thought to the type of business entity or company you would like to register? I’m sure by now as a business-minded person you know the importance of proper and thorough research.
You use professional advisors and legal practitioners to give you guidance on the most suitable entity.
The types of companies that can be registered in South Africa are Private (Pty Ltd) and Public Companies (Ltd), Personal Liability Companies (Inc.), and Non-Profit Organizations (NPO). However, Close Corporations are no longer registered in South Africa.
These different types have different requirements and other legalities that come with them.
When you register a company on the CIPC website portal, you have the option of a Standard Memorandum of Incorporation (MOI) or a bespoke one. The MOI contains the “rules” of the business, how decisions are made and how the business is structured.
For purposes of this article, we only deal with the registration of a company with the standard MOI.
The third step in the bag!
Step 4: Registering Your Company Online
You are almost there.
Make your way from the “Transact” page to Company Registration.
Here you register your company as a valid and existing legal entity. Start by entering your identification number when prompted and click to continue to the next page.
From this next page, you once again, enter your personal information (or that of the director should you be registering as the representative or proxy) as well as the contact information of incorporators and directors.
You will then complete details of the business, i.e. company’s financial year-end, amount of shares issued, etc. Don’t hesitate to give us a shout should you need more information about what these all entail. We are happy to help.
After you complete this, you continue onto the name reservation screen.
You navigate to the “Use Name Already Reserved” tab. Now, retrieve the confirmation email you received (COR9.4) for the name reservation and note the tracking number. Enter the tracking number where prompted and continue.
On successful registration, you will receive another tracking number. This will follow with an email confirmation containing the COR 15.1A document. In addition, the incorporator/director needs to sign and date this document.
That’s the 4th step.
Step 5: Upload the required company registration documents in south africa
Here is the final step for DIY company registration in South Africa 2021.
Now, gather all your supporting company registration documents in south Africa. Specifically, the process is not completed until the signed supporting documents are received by the CIPC.
The documents you will need to complete the registration are:
Your name reservation confirmation letter;
Your signed COR 15.1A form;
A certified copy of your South African ID and/or;
Completed Power of Attorney form – should you be acting as a representative or proxy.
Scan the documents to your computer and attach them as an email to eServicesCoReg@cipc.co.za with the tracking number as listed on the COR15.1A in your subject line.
Following successful registration of your business, you will receive your company registration documents, also known as the COR 14.3 document and MOI.
How long does it take to register a company in South Africa in 2021?
Turnaround times vary between 1 – 3 days.
After that, you are done! Congratulations! You have officially registered your business!
Your business is registered as a legal entity. You may now apply for a business bank account and register with SARS for tax purposes, etc.
DISADVANTAGES OF DIY COMPANY REGISTRATION.
Company Registration is a meticulous process. Also, it requires one to carefully fulfill all the requirements before the process can be completed. For new beginners, it can be stressful, and the back and forth exhausting as well. Sometimes you might not even know what to do with the requirements from CIPC.
Worry not! Our business is an experienced firm that specializes in all things business. We would advise you to choose us as your partners in the journey to owning your own company.
For as little as R800, we can fast-track the company registration process and submit all the required documents on your behalf. All you have to do is relax and focus on other areas of your business while we take care of your company registration.
Benefits of choosing us include additional services you won’t have when you do it yourself, namely ;
– Share certificates
– BEE Certificates
– Tax PIN
– CSD Registration
– Business startup advisory.
Additionally, another service we offer that is very important to new businesses is Accounting and Bookkeeping Services. At a small additional fee, you can choose us to also do accounting and bookkeeping services. You can check out what financial statements are here.
If you still have any questions feel free to get in touch with us here. We have specialists to assist you.