Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
B-BBEE
Blog
Company Secretarial
Featured
General Business
General Interest
Investing in Property
Marketing
Personal Growth
Personal Wealth
Tax
Trusts and Estate Planning
Uncategorized

There are a number of reasons for buying a shelf company that is already VAT registered.

1) SARS makes it extremely difficult to register a company for VAT. Only professionals like ourselves find it relatively straightforward, but even so, a lot of paperwork has to be provided by the client.

2) If you are buying a commercial property, you simply must be registered for VAT in order to buy it as a going concern and have the transaction zero rated. Otherwise, you will have to pay the VAT and then claim it back and wait, and wait ……. for your refund.

3) If you are importing, you will pay VAT at the port of entry and need to be registered in order to claim it back. Of course, you’ll also need an import/export license and that can take a few weeks. We normally stock at least one VAT registered company already with an import/export license.

4) If you are exporting, you will want to claim the input VAT on your purchases and zero rate the exported supplies. Again, you’ll need an import/export license.

Never buy a company that has traded. You don’t know what you are getting. It could have all sorts of liabilities or contingent liabilities and it could be years before calamity strikes!

17 comments

  1. Alan Sutton

    We are about to purchas e a property as a going concern and need a vat registered shelf co for obvious reasons

    Looking at prev replies it looks like you are “out of stock”
    Can you assist
    Alan

    1. Hi Alan,
      Unfortunately, the loophole that enabled us to register shelf companies for VAT has closed.
      We can apply for VAT registration based on the OTP, which, incidentally, must be drafted per SARS’ requirements. You would need to delay the transfer until your company’s VAT registration is finalised.

  2. Thando Dladla

    I need a shelf company with VAT registration.

    Please provide a quotation ASAP.

    Regards

  3. I require a Shelf Company that is VAT and SARS registered and has both an importers and exporters code
    Please let me know the time to prepare this and the cost to me
    Will require a Tax clearance certificate to ensure there is no leftover dues to SARS
    Will also need to appoint my own accounting officer with this changes registered at SARS and Cipro
    Will need EFiling transfer to myself of this exists
    Thanking you

    1. Hi Minesh,
      Currently, we do not have any shelf companies with import or export licences. We have one that is VAT registered.
      However, I suggest that in order to reasonably contain the cost, we should start with an existing older shelf company (they are easier to register for VAT) and register it for VAT, import and export. The VAT is quick, but unfortunately, the import and export can take a long time, depending upon SARS. I cannot give you a timescale because it is so variable.
      The total cost would be R21 480
      The accounting officer is not registered at CIPC. You would probably want to change the company secretary. Also, once we had generated the tax clearance, you would request the profile on efiling and we would release it.
      The bank account would be with Standard Bank and you would take this over.
      If you wish to go ahead or have any further questions, I suggest you contact tumi@harbourassociates.co.za

  4. Maureen Prentice

    Please can we have a quote on a shelf registered company with a Vat number.

    Regards
    Maureen
    082 615 7620

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.

Do you want to leave your cart?

Your cart is awaiting your next purchase, so please proceed to the Home page and continue shopping. If you are leaving your cart because of problems, why not give us a call on our 24 hr numbers 063 866 8928 or 011 805 0030 (subject to load shedding)? If all else fails, call Derek, our CEO on 082 552 9696. We’ll do what we can to help