CC Registration

Bump. I also know someone who wants a shelf CC. How much is it going to cost them to get into business selling retail after all the fine print so they can waltz in any bank and open bank account etc?
 
Yeah well my main point is i want to open up a sales company where i get from suppliers and sell it to customers but like i said i know nothing about the business side of things so i would need help after the registration with vat and all that aswell
 
Key said:
I have not used them, but have tried with good advice: www.biz4all.co.za or DIY on www.cipro.gov.za

They have notified me that CC's are going to be discontinued soon and that the Department is bringing something to the table that will replace it.
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I dont need the whole package from biz4all dont they just have a registration package and the second link says server too busy :p
 
Shelf CCs could end up taking longer to get going and cost more than registering a new one.

I registered a new CC online thorugh Cipro (you do have to do part of it at the offices), but it only cost about R150-R200 and the time spent at Cipro was only a few minutes.
 
Techrat said:
Shelf CCs could end up taking longer to get going and cost more than registering a new one.

I registered a new CC online thorugh Cipro (you do have to do part of it at the offices), but it only cost about R150-R200 and the time spent at Cipro was only a few minutes.
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+1, register a new one
 
Key said:
They have notified me that CC's are going to be discontinued soon and that the Department is bringing something to the table that will replace it.
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Really? Do you know when this will happen and is it definite? Any links to something I can read?
 
The concept of a 'closed corporation' will be ditched, but existing CCs will continue to trade as before. No new CCs will be registered.
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So if I understand this correctly all rules and regulations for CC's registered before the 'ditch' will continue to use the current rules and regulations regardless of any new rules and regulations put into place by this new system?
 
So what are the pros and cons to the new rules and regulations that are going to be brought into effect?
 
Venom Rush said:
So if I understand this correctly all rules and regulations for CC's registered before the 'ditch' will continue to use the current rules and regulations regardless of any new rules and regulations put into place by this new system?
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Seems like the new act will apply to old CCs as well. Read a article the other day about the pros and cons, but can't find it at the moment.

The below link is a bit old but has some relevant info about the changes.

http://www.moneyweb.co.za/mw/view/mw/en/page69?oid=285130&sn=Detail
 
ok i just want to add my 10 cents worth here. SARS is working to close CC's as they see it as a tax evasion.
ok that being said here is the whole thing with CC's, it's not only the registration process once you have a CC. once every 6 months or once a year, i stand to be corrected on this one, you need to submit documents to cipro to keep the CC open. if you do not do this cipro will automatically assume you are no longer trading and your CC will be deregistered. this can only be done through a registered accountant. financials need to be drawn up as well.
now to the nitty gritty. why do you want to open a CC. you can just as easily trade as joe blogs trading as XYZ - sole proprietor.
first you will have to be registered as a provisional taxpayer, then the CC has to be registered as a provisional taxpayer as well. sole proprietor does not need an accountant to draw up an income and expense schedule. CC needs an accountant to draw up the financials. sometimes if SARS requests an auditor is needed to audit it as well - more money.
at the end of the day a CC costs so much money i advise people against it completely.
 
Celine said:
CC needs an accountant to draw up the financials. sometimes if SARS requests an auditor is needed to audit it as well - more money.
at the end of the day a CC costs so much money i advise people against it completely.
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It very rarely happens that SARS will request an audit from a CC. For a small company its a lot more beneficial to register a CC than trade as sole proprietor. The biggest draw for a CC, if the company fails the owner won't lose all his personal possessions. Only in certain cases the court will remove the veil and the owners of a CC will be held personally responsible.

CC is a lot safer than a sole proprietor or partnership and registration less complex & expensive than other companies.
 
DigitalSoldier said:
It very rarely happens that SARS will request an audit from a CC. For a small company its a lot more beneficial to register a CC than trade as sole proprietor. The biggest draw for a CC, if the company fails the owner won't lose all his personal possessions. Only in certain cases the court will remove the veil and the owners of a CC will be held personally responsible.

CC is a lot safer than a sole proprietor or partnership and registration less complex & expensive than other companies.
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Yeah thats what i heard but still lots of people have their own ways... im still not exactly which way is the best to register a CC i want to register a new one not a shelf CC
 
InSanity said:
Yeah thats what i heard but still lots of people have their own ways... im still not exactly which way is the best to register a CC i want to register a new one not a shelf CC
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i don't know what happened to my post so i'll just repost.
my advise to you is that you contact an accountant as one of the requirements with cipro is that you submit who your accounting officer is as well as their registration number. without this you cannot submit online to cipro.
i think that this may be the way that cipro is moving towards. you cannot do anything without the accounting officer's practice nubmer.
 
DigitalSoldier said:
It very rarely happens that SARS will request an audit from a CC. For a small company its a lot more beneficial to register a CC than trade as sole proprietor. The biggest draw for a CC, if the company fails the owner won't lose all his personal possessions. Only in certain cases the court will remove the veil and the owners of a CC will be held personally responsible.

CC is a lot safer than a sole proprietor or partnership and registration less complex & expensive than other companies.
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Use to be that way. Nowadays you have to sign surety for every single account you open so if the CC folds you'll still be paying.
 
InSanity said:
I dont need the whole package from biz4all dont they just have a registration package and the second link says server too busy :p
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All of their services are available individually, just drop them a mail.
 
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