Frequently Asked Questions
Who can register a CC
Only natural persons may become members of a CC.
Minors of 21 years or younger may become a member of a CC, but may only take part in the management if a written letter is lodged by the minor’s legal guardian together with the CC registration, which letter states that the legal guardian consents to this,.
You may be a member of as many CC’s as you wish.
A CC may have a minimum of 1 member and a maximum of 10 members.
Where a CC has more than one member, it is advisable that an association agreement be drawn up in order to set out the duties and responsibilities of all members. This agreement is also an important tool that may be used to settle any disputes that may arise between the members. We can assist with the drafting of the association agreement for your CC.
Can I form a Company or a CC with just one person
Yes, one person can be the sole member of a close corporation or the sole director or shareholder of a company.
What do your business registration services cost
We offer a host of business registration services at competitive prices. Click here for our complete price list.
Can foreigners open a CC
Yes, one or all the members of a CC can be foreigners, as long as the registered address of the CC and that of the Accounting Officer is in South Africa.
If the foreign national has not been issued with a South African ID, an affidavit must be provided stating the following:
- Date of Birth
- Passport Number
- Citizenship
- A statement of the intention to register a CC in South Afica
- The reason why no identity document can be supplied
This affidavit must then be signed and stamped by a commissioner of oaths or a police officer.
How long do your business registrations take
The following are the lead times for our business registrations services:
- Reservation Of Name: 2 to 4 days
- Lodgement of founding statement: 1 to 4 days
- CC amendments: 2 to 3 weeks
- New company registration: 3 to 4 weeks
The above timelines are dependent on the workload at CIPRO and are based on the standard CIPRO turnaround times. From time to time the workload of CIPRO has the effect of extending these timelines. Also remember to post you Limited Power of Attorney by registered mail so that we are able to deliver within these timelines.
Who qualifies to act as an accounting officer for a Close Corporation
The person should be a member of one of the following Accounting and Auditing professions (see section 60 of the Close Corporations Act 69 of 1984):
The Institute of Administration and Commerce of Southern Africa
Accountants and Auditors registered in terms of the Public Accountants= and Auditors’ Act, 1951 (act 51 of 1951)
The Chartered Institute of Management Accountants
The Institute of Commercial and Financial Accountants of Southern Africa
The South African Institute of Chartered Accountants
The Southern African Institute of Chartered Secretaries and Administrators
The Chartered Association of Certified Accountants
The South African Institute for Business Accountants
Who can use this website
Anyone can use this website. Our clients range from accountants, lawyers, bookkeepers, entrepreneurs and individuals.
At Rapid Business Registrations, we have endeavored to create a simple to use website that anyone can operate regardless of computer literacy. The website is designed to enable you to quickly place you order and then go about your business in the confidence that your service request is in goods hands.
What are the disadvantages of buying a shelf CC
A shelf CC is not initially registered in your name. You therefore are not able to open a bank account in the name of the CC until you have been registered as a member. This means that you cannot trade in the name of the CC until you have been registered as a member. The member change process at Cipro takes far longer (3 to 6 weeks) than the registration of a new CC (less than a week).
What are the disadvantages of buying a shelf (Pty) Ltd
Similar to those of buying a shelf CC above.
How does the business registration process for each of your services work
Please click here to go to our home page where you can select the registration service that you would like.
For each registration you will be required to complete an online application form or online enquiry form. In the case of online application form we will inform you of the exact documents that you need to send to us in addition to the application form (ID, Power of Attorney). In the case of online enquiry forms, we will contact you within 24 hours and will inform you of the registration process and documents required for that particular business registration.
Can I appoint my own accounting officer
Yes you can appoint your own accounting officer.
Can Rapid Business Registrations appoint an accounting officer on my behalf
Yes, Rapid Business Registrations will appoint an accounting officer for you, free of charge
What is a public officer
This is the designated person who is responsible for receiving important legal and tax documents on behalf of the business as required by SARS.
We will appoint the first member of the CC as the public officer unless you have indicated otherwise
When should I register for VAT
Registration is also necessary if there are reasonable grounds for believing that turnover in the next twelve months will exceed R1 million. A person can also register voluntarily if turnover in a 12 month period has exceeded R20 000 or is likely to exceed R20 000. The minimum turnover limit is higher, at R48 000, where the enterprise is an accommodation business.
When should I register for Income Tax
All CC’s and companies have to register to income tax.
Do you offer other services that can help me to better run my business
Yes, Rapid Business Registrations works closely with Bloothe Management Services which enables us to provide our clients with a complete package of services. Bloothe Management Services in a business consulting business that offers a range of services which include (but not limited to):
- Accounting and auditing
- Preparation of files for audit
- Bookkeeping
- Preparation of budgets
- Setting up of financial systems and cash flow management systems
- Business plans and business improvement plans
- Financial due diligence
- Sale of financial software
- Submission of all SARS returns
Click here to contact Bloothe Management Services about any financial services that you may require.
What are the main differences between a CC and a (Pty) Ltd
| (Pty) Ltd | CC |
| Juristic Person | Juristic Person |
| Max 50 Shareholders | Max 10 Members |
| Companies Can Be Share Holders | Only natural persons can have members interest |
| Directors And Shareholders | Members |
| Memorandum and Articles of association | Founding Statement |
| Share Capital | Member’s Contributions |
| Auditor | Accounting Officer |
| Required to hold an Annual General Meeting | Not Required to hold an Annual General Meeting |
| Shares | Member’s Interest |
| Register Of shareholder | No Register Of Members |
| Limited Liability | Limited Liability |
| Audited Financial Statements | Financial Statements |
When can I open a bank account
In respect of new companies and CC’s, a bank account can be opened as soon as the business has been registered and you have received the registration documentation.
In the case of shelf CC’s and shelf companies, you will only be able to open a bank account ,and therefore trade, once you have been registered as a member/shareholder or the CC/company.
What names can I use for my business
When choosing your name it is important to choose a name that will most likely be accepted by Cipro otherwise this can cause delays in the registration process.
Avoid names containing “International” , “Projects” or “National” for example Johannesburg International, Johannesburg Projects or Johannesburg National. These names will likely be rejected by Cipro as they can be misleading.
In the case of surnames, only surnames of the members, directors or major shareholders will be allowed.
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