How to register a company in South Africa

My previous post talked about ways to do business in South Africa that involved a third party that is through a distributor in South Africa itself. In this, I am including another choice to do business in the country and you may use it as a guide to begin with.

If you have decided to set up a company in South Africa as an investment or merely a sales office, you need to follow the regulation in this country. Similar to many countries in Europe, America and Asia. To start a company in that country, you need to make a reservation of the name of your company with the Registrar of company and pay a fee. Below are some guidelines I extracted from the internet to put up in this post for your convenience.

Reserve a company name with the Registrar of Companies and pay fees

Time to complete:
3 days (electronic lodgments – The lodgment of a name reservation application in person at Cipro’s office may take longer.)
Cost to complete:
ZAR 50

Procedure comments
The company name can be reserved electronically via the Internet. Otherwise, the promoter must go to the CIPRO and pay the prescribed fee. The official at the CIPRO offices will submit the application electronically on the person’s (company or individual) behalf. Once CIPRO has approved the propose company name, the reservation is valid for 2 months extended by a period of 1 month, within which the company can be incorporated. The name reservation application is processed only if the agent has a credit balance on his or her account. CIPRO officials assign a tracking number to the electronic name reservation and process it in that order. The filing takes 5 minutes; the approval/rejection process takes about 3–5 days depending on the availability of the Web site and the number of applications received and any backlog. In-person filing of a name reservation application at the CIPRO offices may take longer. A name reservation can be extended for another month by filing a name reservation extension form (Form CM6) and paying ZAR 20. When an applicant lodges documents with CIPRO the applicant would be required by CIPRO to open an agent account for the purpose of debiting the amount of any fees payable in connection with that lodgment and future lodgments. On lodgment of the reservation of name application (Form CM5) CIPRO will immediately debit the agent account with an amount of ZAR 50.

source:http://www.doingbusiness.org/ExploreTopics/StartingBusiness/Details.aspx?economyid=172.

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