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Visit Phase One where services such as company registration, changes that need to be made to an existing company or conversion from a CC are simple and cost effective. Contact us for a personal quote that will be tailor made to your company registration.
All south African companies whether it be a CC, Private or Public company are required to submit annual returns with the CIPC. Annual returns will vary dependent on the turnover of the business as well as whether it is submitted within the 30 days of incorporation each year.
Here is some answers to questions you may have about annual returns submission
When do you submit these returns?
Within 30 Days of the companies incorporation.
What if I have never submitted annual returns?
If the annual returns are not submitted within 30 days of the companies incorporation date penalties will be charged dependent on number of years the fees are outstanding as well as the annual return fee x the number of outstanding years.
Why should I pay these returns?
The annual returns system is in place to ensure CIPC has current information of the business as well as to know whether it is still operational.
If the company is no longer active?
If a company is no longer active one should approach the CIPC in order for the company to be deregistered in stead of just forgetting about it or ignoring the company.
Visits Phase One Business Registration in order to find out whether your returns are due and let us help you submit them before penalties arise.
Phase One Business Regiatration specialises in private company registrations, CC conversions as well as changes to current compamies.
Private company registrations can be done within 1 day if correct documents and information are supplied to Phase One.
Things to consider when registering a company.
1. Have you decided on a company name?
You can choose your company name and if the name is not yet taken and obides by the laws around company names CIPC will reserve the company name for you.
Tip: It is advised to supply atleast 4 company name alternatives in order for an avalible name to be selected. CIPC has full right to accept or reject a requested name for a company.
2. Have the correct documents avalible.
You will nees to provide Phase One with 3 original certified Identity document copies for each director.
3. Sign the Power of attorney.
Phase One will email you the Power of attorney that will need to be printed out and signed 3 times by each director.
The ID copies and power of attorney must be posted to Phase One in order for the company registration process to be completed.
4. Send Phase One information via email.
Personal details of the business as well as directors will be required this can be sent via email.
Visit Phase One to register a company today.
Here are 5 reasons why you should start a business today.
1. Online tools
In the business world today you do not need to know how to do everything, study a degree in everything or even pay someone the internet is your best friend. Many industry specific experts have made their knowledge available enabling you to utilise these resources. Resources range from starting a business right through to management of your business.
Here are some free online resources you could utilise in starting a business.
2. Government initiative programmes
Government in South Africa is focusing and driving entrepreneurship in the country by making various funding available for people who want to start a business or simply require capital to improve and maintain their business.
View our 2 part series on public sector funding in South Africa.
3. Funding available
The funding by private institutes is available however the only trick comes in when knowing where to go and how to apply for funding. The availability of funding is South Africa is ranked as one of the easiest in the world to aquire, but then why do entrepreneurs name it as the biggest factor holding them back? Its simple be prepared when approaching finance institutes.
4. Easy to register
The CIPC (Companies and intellectual properties commission) has simplified processes allowing you to register a company in a matter of hours. Yes it can be a handful if you do not know what is required of you but it is possible. You should not be hesitant to register a company as it is easy and convenient as well as affordable.
How to register a Private company, simply visit Phase One and all the information, costs, the process involved, what is needed to register a company and additional information will be available to you.
5. Discussion forums
Lastly once your business is up and running if ever you need advice or unsure of what’s required of you visit a forum. Discussion forums enable you to get peoples opinions and learn from people who may have similar problems or know a solution.
Visit The Forum SA for stimulating and informative discussions around all aspects of business.
“South Africa remains one of the more poorly-performing countries with regards to entrepreneurial activity, despite the factors which are conducive to entrepreneurial ventures, including government policies and programmes aimed at stimulating entrepreneurship,” as stated by the researchers of the latest edition Global Entrepreneurship Monitor (GEM).
So just how do you register a company in South Africa and start your business.
The CIPC (companies and intellectual property commission), which has replaced the previously known CIPRO. CIPC is the body that performs company registrations in South Africa. The CIPC has put cost effective structures in place to ensure that all entrepreneurs with a vision to start a business can register a company fairly simply.Setting up the business in terms of registrations is the easy part when starting a business. Below is some information you need to know when registering a business and once you have registered a business what the requirements as a start-up are.
The company registration of a private company can cost as little as R550 allowing you to benefit from the advantages of Private company as a business owner.
Once your business is registered you can now open a business account ant any major bank in South Africa. There are other requirements to start a business in South Africa such as tax requirements. SARS registrations for your start-up will vary depending on factors such as number of employees, import and export activities of your start-up and other factors. The basic SARS Business Registration will cost R250. If other thresholds are met SARS registrations can cost an additional R250.
Please note: you will need the company registration certificate to open a business account.
Visit Phase One to save 25% on start-up packages for your business, including company registrations and all vital SARS registrations.
When you register a company in South Africa selecting your business name it crucial to the success of your business. There are a few factors to consider during your business registrations and select your business name.
Consider the following when registering a company and deciding on the business name:
- Grab attention of the audience
- Don’t give too much information about the business
- Research a name before you register the company
- Be unique. If your business name has common words in when customers search for you there will be a large number of results increasing the competition for your business and your chance to stand out
- Test the name. Ask your consumer’s, friends and anyone really what they think of the name to gain valuable feedback
- Don’t be specific. There is a limit between ensuring customers know what the business is about and being too descriptive
TIP: When your business grows if your name is too specific it will limit your product offerings.
For convenient and affordable Business Registrations in South Africa visit Phase One
The process of company registration is fairly simple in South Africa and if you know all the required details it will go down without a hitch and next thing you know you have registered a private company.
Here are seven steps to consider
1. Decide on a name
The company name will end in PTY (Ltd). Be sure your business name is distinctive and not ambiguous. Some thought should be given to the business as it will contribute largely to the perceptions of your brand. Ensure that you have more than one option in case one is already taken.
2. Shareholders of a private company
Shareholders own a percentage of the business the percentages should equal 100%.
3. Appointing a director
The director need not be a shareholder of the private company but is in charge of business management and operations. There can be multiple directors of a private company. Directors can easily be removed and added to the private company.
4. Member details
Ensure you have personal details of the directors and shareholders, such as:
The above information should be as it appears on ID documents. If a director or shareholder is not a South African citizen a special letter of consent needs to be signed.
5. Company details
-General product/service the business will offer
6. Appointing an auditor
Approach a local accounting consultant to find out whether your private companies public interest score qualifies your financial reports to be audited. Most small private company registrations do not qualify and therefore their financial statements can be compiled internally and need not be audited.
7. Ready to go ahead with your company registration, visit Phase One today.