Registering a Business in South Africa

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Well that was easy. What a great experience dealing with the Companies and Intellectual Property Commission (CIPC). We chose to register online and it was a pleasure. Quick, efficient and simple.

After logging on to www.cipc.co.za, we registered as a customer and proceeded to register our private company and reserve the name, Hustle Central Productions (Pty) Ltd. 30 minutes maximum and R175.00 (R125.00 for the company and R50.00 for the name). The entire process took 10 days and after receiving the documents from CIPC to sign, we submitted them with certified ID copies and we where done. We received an email with the disclosure certificate and all the incorporation documents.

From here it is off to the bank to open a bank account and then to the South African Revenue Services (SARS).

There are 6 procedures to starting a business in South Africa:

  • Reserve a company name and register with CIPC
  • Open a bank account
  • Register with SARS for taxes
  • Register with the Compensation Fund
  • Register with SARS for VAT (compulsory if your income earned is or is likely to be greater than R 1 million or voluntary registration if the last 12 months income exceeded R 50,000)
  • Register with the Unemployment Insurance Fund (UIF)

If you don’t have access to a computer or want support:

There are also 3 CIPC Service Centres in South Africa with self-service terminals:

  • Tshwane
    • L309, Sunnypark Shopping Centre, Cnr Steve Biko & Robert Sobukwe Streets, Sunnyside, Tshwane, 0001
  • Johannesburg
    • 205, Carlton Centre, 15 Commissioner Street, Johannesburg, 2001
  • Cape Town
    • 3, Norton Rose House, Riebeeck Street, Thibault Square, Cape Town, 8001

CIPC Partner Sites

  • Johannesburg
    • Transnet Enterprise Development Hub
    • Shop No 208, Level 200, 150 Commissioner Street, Carlton Centre,  Johannesburg, 2001
  • Kwa-Zulu Natal
    • Durban Chamber Of Commerce And Industry
    • Chamber Square, Lion Match Office Park, 892 Umgeni Road, Durban,  4001
  • Western Cape
    • Transnet Enterprise Development Hub
      • West Coast Business Development Centre, Building 234, Tonyn Street, Saldanha
  • North West
    • Orbit TVET College, Fatima Bhayat Street, Rustenburg, 0300
  • Free State
    • Free State Development Corporation
      • FDC Rent – a Desk, No.36 First Avenue, Westdene, Bloemfontein, 9301
  • Northern Cape
    • Northern Cape Department of Economic Development and Tourism
      • UMzimkhulu House, Cnr Russel, Elliot & Tyburn Streets, Kimberly, 8301
  • Mpumalanga
    • Department of Economic Development and Tourism
      • 15 Van Rensburg Street, Nelspruit, 1200

Collaborating Banks

  • Customers are able to register their companies electronically through First National Bank (FNB) or by visiting an FNB branch. Their website address is www.fnb.co.za
  • The Company registration number will be the name of the company.
  • Registration is done within one working day.
  • You will have register a name separately.

There are also 3rd party companies that register companies in South Africa as well as professionals such as accountants, company secretaries and attorneys.

 A disclaimer to this information is that a short form Memorandum of Incorporation (MOI) is used in this process and if you require a more elaborate or detailed MOI, always get legal advice.

 

3 COMMENTS

    • Hi there,

      Although you haven’t provided much detail, I would recommend a private company, if you decide to register a company.

      If you register a private company, it will assist you in keeping your business income and expenses separate from your personal ones and can also provide a professional image to potential clients. Just remember to get on top of all your governance and compliance requirements including PAYE and UIF.

      Check out our business management plans that you could use with your company for a website, company stationery, invoice, customer relationship management etc starting at R89.00 per month.

      Good luck
      Stephen

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