Business registration documents

[kas-burner]

Hi,

If anybody has got some advice - please share.

My dad's business (sole proprietor) has been running for 38+ years and he recently got a request for his business registration documents......this is non existing.

I tried to search for his business on the CIPC website but nothing.....tried various spellings etc

I can't find any record of his business registration number - he always used his ID number as the registration number.
I can't search via his ID number as I need the registration number.
Is it possible that the business does not exist at the CIPC? (VAT, SARS etc up to date)

 

[savage]

sole proprietor isn't registered anywhere as far as I know. There is no registration documents

 

[deweyzeph]

A sole proprietor is by definition a person who operates a business in their own personal capacity. Therefore there is no registration of the business with the CIPC.

 

[Pitbull]

A sole proprietor is by definition a person who operates a business in their own personal capacity. Therefore there is no registration of the business with the CIPC.

This, also means your dad is the legally liable for all business dealings unlike a CC or a pty ltd. Who is requesting this though and why?

 

[kas-burner]

Thanks for the feedback this makes sense now.

I think the bank asked him, he was looking at buying a property in the business's name. (not anymore)
So let's say for instance I buy the shop how do I become the new owner as a sole proprietor - not possible?

For someone to own the shop / name they need to register the name as a company with CIPC?

 

[Pitbull]

Thanks for the feedback this makes sense now.

I think the bank asked him, he was looking at buying a property in the business's name. (not anymore)
So let's say for instance I buy the shop how do I become the new owner as a sole proprietor - not possible?

For someone to own the shop / name they need to register the name as a company with CIPC?

You take over the shop as a Sole Proprietor or you register a company and then buy it in the company name. No need for them to register a business unless they want to. Your dad can just buy a shelf CC and use that. Just check, there are loads of places selling CC registrations. You just register the new directors and bob's your uncle. Just remember you will need an accountant.

 

[deweyzeph]

Thanks for the feedback this makes sense now.

I think the bank asked him, he was looking at buying a property in the business's name. (not anymore)
So let's say for instance I buy the shop how do I become the new owner as a sole proprietor - not possible?

For someone to own the shop / name they need to register the name as a company with CIPC?

The point of a sole proprietor is that there is no separate "business". The person is the business, they are the one and the same legal entity, so you cannot buy anything in the "business"'s name if you are a sole proprietor.

 

[savage]

A CC (Closed Corporation) does not exist any more. It has to be a Pty (Ltd).

There are also tax implications between running as a registered company, vs. a sole proprietor. Do your research before you just jump in.