Company Registration

Why it is important for you to register a company in order to run your business?

 Registering a company is important for several reasons:

1. Legal protection: Registering a company provides legal protection for you as the owner and your personal assets. A registered company is a separate legal entity, which means that you as the owner are not personally liable for any debts or legal issues that the company may face.
2. Credibility: A registered company can provide greater credibility and legitimacy to a business. Customers and investors may be more willing to do business with a registered company, as it signals that the business is serious and committed to its operations.
3. Access to funding: Registered companies may have access to funding options such as loans or grants that are not available to unregistered businesses. Investors may also be more likely to invest in a registered company, as they can have greater confidence in the company's legal status and financial stability.
4. Tax benefits: Registered companies may be eligible for certain tax benefits and deductions that are not available to unregistered businesses.
5. Brand protection: Registering a company allows you the owner to protect your business name and brand by preventing others from using the same name, or a similar name for their own business.

Okay, let's proceed to register your company

It is possible to register your company through various online platforms, including the Companies and Intellectual Property Commission (CIPC) website and the Bizportal.gov.za website, which was established by the CIPC to provide registration and related services. In addition, some banks such as Nedbank and First National Bank also offer company registration services.  

You will need the following supporting documents in order to register your small business:

• If you have previously registered your company name in reservation, you must produce the valid name reservation documents;
• ID details of all the directors of the company; and
• If you are married, a copy of your marriage certificate in order to provide the exact date of your marriage. This will be verified with the Department of Home affairs during the online application process. You will not be able to complete the registration process without this information.

It will cost you R175 to register your business with the CIPC. The registration fee with the CIPC will be R125, and choosing your business name will be R50. 

Important: In order to use this step by step guide, you should have registered on the New Eservices platform and verified your details.  

1. Visit the CIPC website www.cipc.co.za and click on On-line transacting/New E-services. 

2. Complete your Username (e-mail address and Password. Click on Login.  

3. Click on Services/Company Registration.

4. Click on + Register a new Company. 

5. If you have not applied for a name reservation yet, you can click on Apply for A Name. Consult the step-by-step guide on "Name Reservation" to apply for a name.

6. If you have applied for a name already, click on the type of company you would like to register (currently the private company is the only option available via this channel). Click on the drop-down for the Enterprise name, and select the relevant Name reservation to link to the private company. Click on Next. 

7. Complete the required Enterprise information and click on Next: 

    • Financial Year End 

    • Enterprise email 

    • Authorised shares that will be issued 

    • Enterprise Contact Number 

    • Customer Email (pre-populated) 

8. A notice will display, confirming that the Enterprise e-mail address will be regarded as domicilium citandi et executandi (i.e. the registered business address) for purposes of all legal notices to be served by the CIPC on the company. Click on Yes to continue. 

9. Complete the Enterprise Location information and click on Next.

10. Click on + Add Director under Manage Directors to add directors to the company. You may save the information and continue later. Click on Next 

11. Complete the Director’s detail and click on Verify Director Info: 

      • A director cannot be a minor, and must at least be 18 years of age. 

      • Companies can only be registered via this channel if all directors are South African citizens. 

      • Each director’s detail is verified. If married, you'll need the details from your marriage certificate.

      • You will receive a confirmation once each director has been verified. Click on OK. 

12. Complete the contact details of the director and click on Next

      • Director Type: Director or Non-Executive Director or Alternate Director.  

      • Click the tick box if the Director is also an Incorporator. The first director will be an incorporator.

      • An incorporator of the business MUST be a director.  

      • Indicate if the relevant director will be responsible for company tax.

      • Complete the location for the director and click on Save 

13.  To add another director, click on +Add. Repeat the steps until all directors of the company have been added. Click on Next. 

14. To add an Auditor, click on Add, or click on Next to Continue. 

      • NB: Appointing an Auditor on a private company is voluntary.  

15. The payment details will display. Click on Proceed to Payment. 

16. Complete required payment information and click on Pay. 

17. Authenticate the transaction and click on Continue.  

18. A message will display, confirming that the card holder has been authenticated. Click on OK. 

19. To continue, click on the relevant menu button to proceed to the following transaction. 

20. The CIPC will automatically register your company as a taxpayer with SARS. You wll be issued with a Company Tax Reference Number at the end of the registration process.

B-BBEE Certification:

You  can apply for a B-BBEE certificate on the eservices website , Bizportal anytime or at the CIPC Self Service Terminals when registering a business, or when filing annual returns. 

Note: The CIPC B-BBEE certificates are free of charge. The CIPC only provides B-BBEE certificates to Exempted Micro Enterprises in terms of the Amended Codes of Good Practice, issued in terms of Section 9 of the Broad-Based Black Economic Empowerment Act 53 of 2003 as amended; turnover of no more than R10 million.  Only directors of entities are allowed to apply for B-BBEE certificates, no intermediaries or third parties. 

Furthermore, the Website gives you the option to elect to receive a B-BBEE certificate. 

Et voila. Congratulations. You are now the owner of a brand new registered company. 

Now get to work towards the fulfilment of your business dreams!! Go out there and WIN!!