PTY vs buing a shelf cc

[Jweb_@@]

Hi,

Has anyone bought a shelf cc? I'd appreciate any feedback wrt turn around times and anything else that i need to pay special attention to.

I'd also like to know what the best option would be; register a PTY or purchasing a shelf cc.


It's my 1st time doing this, so any advice would be appreciated.

Thanks.

 

[Polygon]

A PTY needs to be audited every year I think.

AFAIK you can't register new CC's any more, so shelf is your only option if going the CC route.

Regarding turn around times, you get what you pay for.

So if you're having one of those 'start your own company' kind of deals, it's usually quite quick (within a week I think) and they do the running around for you. If you're doing it yourself, expect to wait much longer as you don't get priority.

There's more information if you search the forums, like for example this:
http://mybroadband.co.za/vb/showthr...New-Business-Pty-Ltd-vs-CC-(Can-we-still-CC-)

 

[SYNERGY]

Purchase a shelf pty, and amend the details. Or register a new one.
You're looking at a minimum of a week or 2.

 

[OMB]

http://www.cipc.co.za/Companies_FAQ.aspx

 

[Jweb_@@]

Thanks for the feedback.

 

[EnT@nGleD]

A company no longer is required to be audited if it meets certain criteria i.e. being owner managed and having a public interest score of less than 350.

Public interest score is based on turnover, 3rd party liability, employees and shareholders.

Therefore audit only applies if you are required to have an audit in terms of your Memorandum of Incorporation, public interest score above 350 if owner managed or required to have an audit in terms of a government Act.

I see no difference between a CC and a (Pty) Ltd company. Directors and members can be held responsible for liabilities if found to have acted recklessly.

In terms of quick registration purchasing a shelf CC or (Pty) Ltd will be quicker. CC will be more expensive due to no longer being able to register one.