Frequently Asked Questions
FAQ’s:
SHOULD I BUY A SHELF COMPANY OR REGISTER A NEW COMPANY?
A shelf company is a company that we have already registered. We then sell the company to you and transfer the shares to you. We then need to appoint you as a director of the company. The transfer of shares is done immediately but the appointment of the director can take 5 to 7 days to register in Pretoria.
Normally people acquire a shelf company when they need the company registration number immediately. A new company registration implies that the company will be brand new and that you will be the first shareholder and director. You also have the option to reserve a name of your choice. The entire process can take about 10 days.
WHAT IS THE DIFFERENCE BETWEEN SHAREHOLDERS AND DIRECTORS?
The shareholders invest money in the company – they are the owners of the company. The shareholders appoint the directors to run the company on their behalf. A director may be dismissed by shareholders at any time. Often in private companies the shareholders may also be the directors.
WHAT IS THE MEMORANDUM OF INCORPORATION (MOI)?
This is the document that provides a framework for the management of the company. The MOI is sets out the rights and responsibilities of shareholders, directors and other within the company.
HOW LONG DOES IT TAKE TO REGISTER A COMPANY?
It takes 3-4 working days from the time we upload the documents to CIPC
CAN I GET A SPECIFIC NAME?
Yes you can, provided the name is available and it is not offensive or misleading
IF I ACQUIRE A SHELF COMPANY HOW LONG WILL IT TAKE TO APPOINT A DIRECTOR?
It takes about 2 working days once the documents have been uploaded to CIPC.
WHICH DOCUMENTS DO I GET WITH A COMPANY?
- Registration certificate (COR 14.3)
- Memorandum of Incorporation
- Income Tax Registration Number
- Inaugral Minutes
- Share Register
- Share Certificate
I AM A FOREIGN NATIONAL - CAN I FORM A COMPANY IN SOUTH AFRICA?
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Yes you can, a clear colour copy of your passport will be required.