How many directors and shareholders?
(Pty) Ltd companies must have at least one director, and he/she has to be appointed when the company is formed.
Interestingly, however, a (Pty) Ltd company does not have to have any shareholders. It is formed with an authorised capital, usually of 1000 shares. That is capital (shares) that the director(s) are authorised, but not obliged, to issue.
This is an advantage for us when we form a new trust and a new company that is to be owned by the trust. We can form the company, usually within about 1 week. The director can then use the company to buy property, start a business, or whatever it was intended for. Then, when the trust is eventually registered, often many weeks later, the shares, usually 100 or 120, can be issued to it and the structure is thus completed.