Register a Close Corporation

Registering your Close Corporation is probably the most exciting aspects of establishing a business for the first time. CC registration is unbelievably easy when you have all the necessary information at hand and it can take no more than a couple of minutes to complete the online cc registration form. In this post I’ll explain the steps involved in registering your Close Corporation.

There are a number of legal requirements and certain paper work needs to be completed and signed when registering a close corporation. The most important of these documents is called a Founding Statement.

The registration process is explained below:

The Founding Statement of the Close Corporation requires the following information.

1.    Full name of the Close Corporation.
2.    Street address of the Close Corporation.
3.    Postal address of the Close Corporation’s registered office.
4.    Principal activity of the CC.
5.    Date on which the financial year ends.
6.    Full names and identity numbers of each member.
7.    Interest expressed in percentage of each member.
8.    Each member’s contributions to the Close Corporation.
9.    The Founding Statement of the Close Corporation needs to be signed by every member.
10.    An accounting officer must be appointed to the CC as he will draw up the financial statements
11.    The name and address of the accounting officer of the CC.
12.    Once completed the Founding Statement is sent to the Registrar of Close Corporations.
13.    The Registrar of Close Corporations will then issue a Certificate of Incorporation and a Registration number once approved. A copy of the Certificate of Incorporation will be kept by the Registrar, another copy is sent to the Close Corporation and a third copy is sent to SARS (South African Revenue Services) to register the business for tax purposes.
14.    Once the Certificate of Incorporation has been issued the CC may commence business.

Tips: It’s is a good idea to have a few names for your CC as your first choice might not be available or is rejected by the Registrar. If you need to have your business registered formally ASAP, then you need to register it NOW as the time it takes to register your CC is totally dependant on the workload of the Registrar.

Conclusion

Registering a Close Corporation is quick, affordable and easy with our online CC registration form. Once you’ve completed the electronic application form, you simply need to pay the cost for registration and leave the rest to us. That’s it, you’re done!
All the best for your new business!