Posted by: Wolfe on Oct 14, 2011
Earlier this year the new Companies Act kicked in and saw the launch of CIPC (Companies and Intellectual Property Commission) www.cipc.co.za.
As most of you know, you can no longer register a CC (Close Corporation), you now register a Pty (Company).
I recently decided to start my own company and set out on the easy task of doing so online. I was sadly mistaken with regards to the "easy" part and now sit here writing this post, taking a break every now and again to apply some cream to the raw skin on my head revealing bald patches born out of frustration.
I spent the last two weeks trying to find out how to register a company and furthermore, trying to find out what forms to fill in. All I found was a bunch of business advice sites too lazy to write anything informative and instead elected to post the same web links as everyone else referring you to CIPC that tells you absolutely NOTHING!
I hope this will help you if you are thinking about registering a company and save you loads of time. At this point I want to make it very clear...contrary to what you may believe or with regards to your past experience on CIPRO, you CAN'T register a Company ONLINE with CIPC, yet some functions can be done online.
Here is how to go about it:
- Go to www.cipc.co.za and register as a new customer. Make a note of your 6 character customer ID as you will use this a lot in future. Be sure to select the correct manner in which you want them to communicate with you during the registration process. The Customer Registration link is near the top left of the page
- Once you have registered, you need to transfer funds into your virtual account. Here is the link with the bank details as well as reference number to use: http://www.cipc.co.za/CustomerReg_BankingDetails.aspx
- You will need to deposit R50 to Reserve a Company Name and then another R100 to register your Company. Depending on your bank, give it a day or two for the funds to reflect and then log back in.
- Once you have logged in and the funds reflect, click on Name Reservation on the left of home screen. Select Proposed Name on drop down. The form will load pre-populated, except for a few things. Select Proposed Name at the bottom and supply them with 4 names and click submit. Don't worry about the "Registration Number" field.
- You should soon receive confirmation acceptance if the names are available. This would come through via email about 2 hours later if you selected email as your communication method during registration
- Next, depending on how many directors in your business etc. You will need to fill out 2 primary forms, A Notice of Incorporation (CoR 14.1) and Memorandum of Incorporation (CoR 15.1 A-E)
- You can get the above forms here to print: http://www.cipc.co.za/Companies_Forms.aspx
- In my case, I am the only person in the Company so I only filled out CoR 14.1 (not A, B..etc.) and CoR 15.1 A.
- The forms are pretty straight forward to fill out, except on the MoI 15.1 A form the following part says: "........is authorised to issue no more than shares of a single class...". Here, just fill in 10 000, which is the minimum number of shares a company can have.
- Once you have filled out the forms you need to post it to CIPC or hand delivery to their offices in PTA with a Certified Copy of your ID and also a copy of the Proof of Name Reservation you received. You can post it to: CIPC - Companies, P.O Box 429, Pretoria, 0001
- Be sure to keep copies of the forms...just in case....
Obviously, depending on how you want to structure your company, you may need to fill out different forms. If at any time you want to confirm the above or have a question, feel free to phone the Call Centre on 086 100 2472, but be warned...they are incredibly busy and you may hold on for 30 min, just to get cut off. Here is my advice, should you wish to phone them:
- They have extended their call centre hours from 8am-7pm in the week until the end of October. Give them a call at about 6:10pm. I have gotten through to them almost instantly during this time.
You can send an email to email@example.com, but it takes about 5 days for a response.
Once you have posted your forms, expect to wait 6-8 weeks for confirmation of registration.