Register a new business: Online Store

[NomNom]

So I am thinking about maybe opening up an online store, thing is I don't know where to find information on how to get registered as a business ect. I did find a site that has loads of links ect but they all don't work, anyone know where I can get help with this?

Also uhm I see some online stores are registered as CC and New Pty Ltd, what's the difference?


I tried this site but the links don't work: http://register.org.za/business registration/

 

[Giftig]

Hi, I can help you with all your queries and registrations. Email me at info@valuexsolutions.co.za or you can PM me.

 

[IzZzy]

CC - close corportion.

(Pty) Ltd - Private Company.

If you want a CC, you will have to buy an existing shelf CC as no new ones may be registered. For a private company, you can register a new one or buy an existing shelf company.

CC's were intended to give "the man in the street" limited liability in an informal setting. There aren't really any major formalities when it comes to a CC and no real separation between ownership and control. Each member of the CC hold's a particular percentage of the member's interest in that CC, but each member also has the capacity and authority to bind the CC.

A private company is a more formal entity (but less formal than a public company) in that ownership and control is strictly separated. You are a shareholder in a private company but this gives you no rights to the conduct and management of the company. Control of the company is vested in its board of directors and not all shareholders are necessarily directors and vice versa.

Bear in mind that you can start out as a CC and if your business grows and a private company format becomes more relevant, you can always convert.

So depending on your context, you must decide which is more or less applicable to you.

 

[NomNom]

So I should register as a CC but I can't so I must register as a Pty Ltd But I shouldn't because I want to be in charge of my own company? , hmm I really shouldn't have slept through all of those business studies classes.

 

[oober]

So I should register as a CC but I can't so I must register as a Pty Ltd But I shouldn't because I want to be in charge of my own company? , hmm I really shouldn't have slept through all of those business studies classes.

You can still create a private company. You will be the shareholder and also the managing director.

 

[NomNom]

You can still create a private company. You will be the shareholder and also the managing director.

Ah ok then I think I will do that then.

 

[w1z4rd]

I purchased a PTY LTD for R900 then it was another R340 to change the directors. CC`s are around R3000 as you can only buy shelf CC`s as you can no longer register new ones.

 

[oober]

If you don't mind going and standing in the queue you can go to the cipc and do it yourself. Will cost about R500-R600 bucks I think.

 

[NomNom]

@NomNom - its fairly easy to do and if you need assistance there is people like me that helps people like you to put bread on the table

Will let you know.

I purchased a PTY LTD for R900 then it was another R340 to change the directors. CC`s are around R3000 as you can only buy shelf CC`s as you can no longer register new ones.

I think PTY LTD for me then.

If you don't mind going and standing in the queue you can go to the cipc and do it yourself. Will cost about R500-R600 bucks I think.

They are in Pretoria so I can't go see them, but thanks for the website, looking at it now.

 

[Inevitability]

If you don't mind going and standing in the queue you can go to the cipc and do it yourself. Will cost about R500-R600 bucks I think.

I'm almost sure I saw on the CIPC website that you can do an online registration for something like R175. Or am I grossly mistaken?

 

[czc]

There is a vid there if that helps you.

http://www.cipc.co.za/CoRegVid.aspx (Stupid page design though)

 

[tRoN]

What's wrong with just being a sole proprietor.
As a new business u don't have to be registered for Vat till the turnover exceeds 1 million.
As a company u pay company tax as well at a higher rate than personal tax.

 

[oober]

I'm almost sure I saw on the CIPC website that you can do an online registration for something like R175. Or am I grossly mistaken?

You can do the registration "online" but you still need to go in because the online website only generates the forms you then have to take them in. So it's basically something like R175 to register. R50 to reserve a name and R250 to change the company from the registration number to the name. So make it R475. Not sure what happens if you specify the name when you register the company I only thought of a name afterwards. But as it is S.A would probably still cost R250 to change the name.

 

[Pakka]

Do you need to get an accountant or auditor for all of these types of businesses, even if they are very small?

 

[Chevron]

Do you need to get an accountant or auditor for all of these types of businesses, even if they are very small?

Very good question.

Disclaimer. Yes I know the thread is old. Doesn't make the question any less relevant.