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Sure, we only charge R475 to form a company, and R175 of that goes to CIPC in fees.

Maybe that’s why so many people don’t think twice about registering a company.

What they don’t consider is that if they do not use the company, then these are the costs –

Two nil provisional tax returns each year at about R650 each

Nil Annual Tax Return at about R700

Or R200 every month per return SARS Administrative Penalty for non-submission

CIPC Annual return about R1 000

Once off declaration of beneficial owners about R1 000

And then the whammy –

Cost of de-registration at CIPC R4 500

Cost of de-registration at SARS R3 500

So, think twice before you form a company. You need to be serious about going into business.

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