Registring a new CC

The_Ogre

The_Ogre

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How does one go about it. It seems CIPRO is no longer and has been replaced by the CIPC.

What confuses me is this here text from the CIPC
No new close corporations will be registered from the 1st of May 2011, but new companies can be registered.
Click to expand...

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

Seems I've been living under a rock. :wtf:

Anybody here know the procedure?

TIA
 
You are no longer able to register a CC. You need to register a Company instead.
 
About 4 months ago there were still CC shelf companies (pre registered). Speak to Shelf company warehouse. Company registration is looooong procedure. Grab a CC if you can
 
xplicet said:
About 4 months ago there were still CC shelf companies (pre registered). Speak to Shelf company warehouse. Company registration is looooong procedure. Grab a CC if you can
Click to expand...
Yeah, I'd much rather take a CC, companies seem like a massive shlep! Especially for someone wanting to start a small business.
 
There are no more cc's available.

I have made some enquireis and the small version of the PTY is basically the same as a cc. There are no real disadvantages between the two.
 
Madman88 said:
There are no more cc's available.

I have made some enquireis and the small version of the PTY is basically the same as a cc. There are no real disadvantages between the two.
Click to expand...
I see you need to specify auditors as well (on the form). Or am I mistaken
 
grav80 said:
I see you need to specify auditors as well (on the form). Or am I mistaken
Click to expand...

Could be, but I wasnt told. If fact I spoke to my accountant and he said that there is basically no difference.

Maybe we could get RPM to do an article on it for the business forum....
 
Companies have various requirements like auditors based on factors of staff count, shreholders, turnover etc. If you have a small business chances are the company is a simple as a cc. But I think think applications for new a company is more complicated and slower than an ol CC.

You should also be able to buy shelf companies(new act) which are already registered. You just have to choose one of the strange names and then can always change it later.
 
I looked at the forms and some of the schitt they ask I don't even know what it means.

I honestly think they should have kept the old CC. Its much simpler to set up and manage.
 
Don't bother going for an old cc.

New legislation will make an old cc Identical to a (PTY) ltd. in almost every way besides for the name. They will need to be audetid etc.

Companies like Shelf Company Warehouse are now cashing in on the "Hesteria" surrounding the last few cc's in the marketplace. Ignore it and register a (PTY) Ltd.
 
Yeah I recently registered a Pty Ltd. Took a few weeks, like 3-5 or so, counting an administrative delay on the part of the people doing it for me. I think you also need to register for things like income tax though. Whether you need to register for VAT and PAYE depends on your company.
 
Thanks danlr. Out of interest what's the going rate to have a third party register the company for you? I actually need to register 2, one for myself and one for a group of 3 of my friends and I.
 
Good luck with registering a new PTY. We submitted the documents and payment near the end of February. We're STILL waiting for something to happen.
When we queried nobody knew anything about it... seems they had "lost" the documents we sent via registered post. When we queried if we had to send them again, we got no response.

On the other hand, registering a company in the UK took less than 1 day. Go figure.
 
Rapid Business registrations charged me R695, or R995 including PAYE, SDL, UIF and income tax registration. R55 courier fee I think.

EDIT: I didnt realize I had to register for income tax, so I chose the R695 option, and now I'm having to register for income tax separately at a cost of R240. But I dont need PAYE etc just yet, so I wont be paying salaries for quite some time.
 
Are there any restrictions regarding the Directors of a small PTY Ltd? I'm referring specifically to an existing bad credit rating (not liquidation or bankruptcy).
 
a bit off topic but I'm also looking at registering a PTY Ltd, but my position is I'm currently unemployed and I'm receiving unemployment benefits. I live with my parents and everything is taken care of so there's no rush at the moment to do the registration, but my question is if I do register now, will it affect my unemployment benefits?
 
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