Steps For Business Registration in South Africa
4 Detailed Steps For Business Registration in South Africa
What are the simple Steps For Business Registration in South Africa ? Documentation , Reserving your company name , Registration with the SARS and Registration with the CIPC are the simple Steps For Business Registration in SA.
The South African economy is seen as the second-largest in Africa. Transacting business in the South African market is quite flexible once you know the ropes. This country attracts entrepreneurs worldwide who come to invest and expands the branches of their businesses.
If you are a foreign investor or local planning to start a business in South Africa, you need to register your business before operation begins . It is, therefore, important that you understand the process of business registration in South Africa . This article gives a complete guide on how to register your business whether its being a sole proprietorship , Partnership or a company .
4 Detailed Steps For Business Registration in South Africa
Here is a complete guide of the business registration process South Africa split into different stages:
#1 . Documentation:
In this stage, you will be providing documents that back up the registration process. These documents include:
- ID card or passport of the applicant
- Power of Attorney appended on the related documents.
- Certified copy of ID identifying the power of attorney who appended the documents in the previous step.
- Valid name reservation if there was a previous filing for incorporation.
#2.Reserving the company name
This involves searching to see if the business name is available. It is usually carried out with the CIPC. The steps include:
- Carrying out a name search for availability with the CIPC.
- After approval, there is a validity period of six months.
#3. Registration with the SARS
This process is carried out with the South African Revenue Service (SARS). The process requires the following steps:
- Fulfill your legal obligation requiring the remission of taxes.
- Registration with the SARS which must be within the first 60 days of operation of the new business.
#4.Registration with the CIPC
This is the final registration of the business with the CIPC. It entails the following:
- Visit the official website of the CIPC (cipc.co.za).
- Select Register a new company.
- Select the name reservation option.
- Print out the form that was emailed to you and append your signature on it.
- Attach all the necessary supporting documents and forward them in a mail to eServicesCoReg@cipc.co.za.
Further Reading >> Registering a sole proprietorship in South Africa
As a sole proprietor or one man business , you have two options for registering your business with the SARS. You can either register using your name or register under a fictitious name. The fictitious name acts as your trading name. For this reason, when you use a false name, you must register the name with the Companies and Intellectual Property Commission (CIPC). This registration should be done in the region where the business is located.
How do I check if a company is registered?
- Click on the “status search” bar and enter the first few letters of your company of interest. Do not enter the characters LTD, CC or PTY as the database does not recognize them.
- Register as a CIPROZA user. The information will remain confidential. Confirm your registration via your email by clicking on the confirmation link that is sent to you. If you are already registered, log into your account.
- On the menu, click on the status search again and then click “get” and select the organisation from the list that pops up.The organisation you are searching for should be on the list.
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