Registering a CC

S

Syph0n

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I want to start a company, doing webdesign, but looking to do things 'properly'. How exactly does one go about registering a CC? I've heard it can be done by various people/companies for a bit of money and takes a few days/weeks, but how exactly does it work? What kind of info do they want etc.

Also, when opening a bank account for the business, how does one go about this? It it exactly the same as opening a personal account, only you provide some sort of proof of the company? If so, what do they ask for? How do the fees work on these kind of accounts?

Hoping someone here knows all this stuff.

Cheers :)
 
The information you require for registration of a CC is as follows -

1. Reserve a name for the CC. This take approximately 6 - 8 days, because of the current backlog of work at the Registrar of Companies. You must select 3 - 4 possible names and this will be sent through to the Registrar.

2. Certain forms with personal details must be completed. Every member of the CC must sign a power of attorney as well if you do it through a service provider.

3.The cost of registration (from my service provider) is approx R 570.00.
 
You have two options basically:

1. Do the name reservation (CK7) and registration (CK1) yourself by registering an account with CIPRO Cost is about R200 if i remember correctly, and you can get the registration done within a day if you drive to CIPRO offices in PTA with the name reservation and registration documents.

2. Use an agent such as Shelf Company Warehouse, who do all the paperwork for you. This costs about R450 and takes a bit longer, probably about 2 weeks. You still have to give them all the information though.
 
Go to Cipro
Register
Deposit R150
Reserve your name - R50
Wait for email to confirm name.
Fill in form online and take to CIPRO offices in PTA with all supporting documents - R100
Not paying R570.00 - Priceless!
 
Freakboy said:
Go to Cipro
Register
Deposit R150
Reserve your name - R50
Wait for email to confirm name.
Fill in form online and take to CIPRO offices in PTA with all supporting documents - R100
Not paying R570.00 - Priceless!
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No my lamb.

Being busy and using the services of a professional person who does this for you and have it paid for by your clients because it involves their CSI projects ... now THAT is priceless.

If you have time hanging out at these offices, great. I don't.
 
Or just go to shelf company warehouse and do it through them. Its easy, hasslefree and cheep. The easiest option is to by a shelf company and then just change the name and the owners etc.

If you don't want to buy a shelf company, the you can register a new CC with them as well.
 
Find our from your accountant what they recommend. You'll need to submit this, that, and the other for the month to month running of your CC. I've heard people being told to run as a Sole Proprietor, for simplicity reasons.
 
Syph0n said:
Also, when opening a bank account for the business, how does one go about this? It it exactly the same as opening a personal account, only you provide some sort of proof of the company? If so, what do they ask for? How do the fees work on these kind of accounts?

Hoping someone here knows all this stuff.

Cheers :)
Click to expand...

Go to the bank with the cc docs, proof of residence, ID and any other fica related documents. I curretly recommend FNB,I have a business acount with Fnb and another with Absa. FNB monthly charges R35 including interent banking. Absa app R145 including Internet Banking
 
Syph0n said:
Also, when opening a bank account for the business, how does one go about this? It it exactly the same as opening a personal account, only you provide some sort of proof of the company? If so, what do they ask for? How do the fees work on these kind of accounts?

Hoping someone here knows all this stuff.

Cheers :)
Click to expand...

You'll need the CK1 document, certified copies of IDs for all the members, plus proof or residence (Recent water and electricity account for the business premises with letter from landlord if not owned by you). Savings account can be opened immediately, but cheque accounts take about 3 working days, and requires credit vetting.
 
spiderz said:
Find yourself a accountant, CC need to be audited or sumthing at least once a year.
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CC does not need to be audited, but you do need an accountant. Your accountant has to be registered with one of the professional accounting associations and has to give you an letter stating that he/she will be acting as accountant for your company.
 
blunomore said:
No my lamb.

Being busy and using the services of a professional person who does this for you and have it paid for by your clients because it involves their CSI projects ... now THAT is priceless.

If you have time hanging out at these offices, great. I don't.
Click to expand...

Firstly I'm not your bloody lamb, thank g*d for that.
And secondly, I have been there twice last year and it has never taken me longer than 30min from the time I got into the parking to getting my printout and leaving. That is why you fill in everything online and just go and drop off the printouts at the office. If 30min is not worth R400 to you then there is something really wrong…

@ Bondizzo – I also recommend FNB
@ quik – You are correct, only a certified accountant is needed, no auditing is necessary. It might change in the near future with the new law they are trying to bring into effect, but at the moment no auditing is necessary.
 
Freakboy said:
Firstly I'm not your bloody lamb, thank g*d for that.
And secondly, I have been there twice last year and it has never taken me longer than 30min from the time I got into the parking to getting my printout and leaving. That is why you fill in everything online and just go and drop off the printouts at the office. If 30min is not worth R400 to you then there is something really wrong…
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Read properly. My clients pay for this, not me, my lamb.
 
Thanks for the replies all. So you're saying that running as a sole proprietor would be easier (I will be the only owner)? What's the difference, and how does one register that?
 
MielieSpoor said:
Or just go to shelf company warehouse and do it through them. Its easy, hasslefree and cheep. The easiest option is to by a shelf company and then just change the name and the owners etc.

If you don't want to buy a shelf company, the you can register a new CC with them as well.
Click to expand...

this is what i heard a lot of ppl do
 
Bondizzo said:
Rather have a cc, unless you want unlimited liability.
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I understand the liability issue with being a sole-proprietor, but I'm really not concerned about that. If having a CC means I have to get accounts and auditors etc then it seems like more trouble than it's worth.

Just not sure how one goes about registering as a sole proprietor.
 
blunomore said:
There is nothing to register.

You operate under your own name, all your business income is deemed personal income and you get taxed on that as such.
Click to expand...

But what about tha banking? Can I open an account for business use under the 'business' name?

What's the real advantage to a single person having a CC then?
 
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