Harbour & Associates

I get so many people asking me why we have not registered them as shareholders at CIPC, it’s time to explain. Members of CCs are registered at CIPC (because they are, amongst other things, “directors” of the CC). Directors of companies are registered at CIPC. Shareholders are not registered anywhere, except in the share register. The share register is usually an Excel sheet filed on the server at the registered office of the company. That’s it! There’s the only place you will find the shareholders. A share certificate is issued by the company secretaries to the shareholder and…

CIPC have a website called BizPortal which is intended for people who wish to register their own company. It is not intended for the likes of us who register companies for other people. They’ve tried to make it simple and we know of a few people who have navigated their way through the process, but most people give up and take the easy way out by contacting us. Those who succeed in registering their own company often end up paying more for the finished article because they have no idea what a share register is all about, nor what…

So, what can I do if my company has been de-registered at CIPC? You and many others are asking this question after CIPC hit the Final De-registration button in August 2020. There are 3 possibilities Your company was not demonstrably trading and did not own fixed property at the time of de-registration – You are out of luck. It does not qualify to be restored. Your company was not demonstrably trading, but did own fixed property at the time of de-registration – it can be restored, but the process is arduous and lengthy. You can demonstrate,…

The absolute minimum cost is represented by the CIPC fees which are R50 to reserve a name and R175 to register the company. However, it is much easier to pay a little more and get professionals to do the job. They do it all the time so get the job done right first time and therefore more quickly than you would yourself. Typically their fees would be a total of R1 980 and these will often include a few extras, which themselves have value. Harbour and Associates, for instance, for R1 980 offers the most extras and these include –…

The Companies Act of 2008 had one little requirement that everybody ignored. Now CIPC is coming down hard! The Act s33 and the Regulation 30 say that if you are not required to submit your Annual Financial Statements with your Annual Return to CIPC then you must submit a CoR30.2 Financial Accountability Supplement simultaneously with you Annual Return. You have to submit these returns during the month following every anniversary of the date of registration of your company, even if it has never traded. Failure to do so will lead to de-registration and, once de-registered,…

Annual Returns to CIPC are due during the month following that of the anniversary of the date of Incorporation (nothing to do with the Financial year end). If returns are not submitted, the company or CC will be de-registered by CIPC. When that happens, we have to apply to restore (actually reversing the de-registration). This is now either impossible or a nightmare process including advertising in the newspaper and other demanding requirements. Only after restoration are we able to determine which Annual Returns are outstanding and then submit the outstanding returns and pay the late fees. CIPC charge a fee based…

I am often surprised to find how little our clients understand their company’s tax and CIPC obligations, so here’s a brief explanation – The terms company and Close Corporation are synonymous in the discussion below. 1) All companies must be registered as tax payers. 2) They are all provisional tax payers and that means they must submit three tax returns each tax year regardless of whether they have traded or not. 3) The 1st provisional tax return is due 6 months after the beginning of the relevant tax year (end August 2016 for a February year end company). This is…

CIPC

Where does company shareholding get registered?

How to register a company

My Company has been de-registered by CIPC

What does it cost to register a company?

CIPC Annual Returns. Critical changes that influence you!

CIPC Annual Return fees

How Company Tax Returns and CIPC Returns Work

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