Company and Intellectual Property Commission
We register Companies, NPOs and Cooperatives. Please note Close Corporation registration was phased out by the Commissioner and now you can a company as a (Pty)Ltd.
A. Company (Pty) Ltd
What is a (Pty) Ltd?
A Pty Ltd is a private company that is trading for profit, a separate legal entity distinct from its shareholders. A private company (Pty) Ltd cannot offer its shares to the public, has fewer disclosure and transparency requirements and must compromise of at least one director
What are the benefits of a (Pty)Ltd?
Advantages can include: The liability of shareholders is limited to the share capital they have subscribed and any debts which they may have personally guaranteed. Shareholders and directors can be employed by the company under normal salary and wage conditions and their income taxed at personal rates.
B. Non-Profit Organisation (NPO)
What is a NPO?
NPO – which stands for non-profit organisation – is a generic term for a non-profit or non-governmental entity in South Africa. As such, your organisation is an NPO regardless of whether you are constituted as a voluntary association, a trust or a non-profit company.
What is the difference between a PBO and NPO?
An NGO may apply to SARS for tax exemption as a Public Benefit Organisation (PBO), if it meets the requirements of the Income Tax Act of 1962. As is the case with NPO registration, PBO registration is also voluntary (an organisation does not need to be an NPO in order to be approved as a PBO).
C. Cooperatives
What is a Cooperative?
A co-operative is a distinct form of enterprise that provides services and/or products to its members. Profits, known as surpluses in a co-operative, are divided among members in relation to the amount of the business each member did with the co-operative.
By registering a co-operative, you are creating a legal entity with certain powers to act on its own and certain responsibilities. Before registering a co-operative, take note of the important record-keeping that need to be done by a co-operative.
Before you decide to register a co-operative you need to have a formation meeting to decide on common purpose and agree to register a co-operative. At the formation meeting the members have to decide on the form and type of co-operative. There must be at least five natural persons, two juristic persons or a combination of any five persons in order to form a primary co-operative. Co-operatives have certain principles, and are expected to include certain values in all the work that it undertakes. Click on the links below for further detail: