Our discussion agendas on CIPC company registration fees, process, advantages, and challenges. Among 190 economics, South Africa Currently ranked 82 in the ease of doing business. The world bank latest annual rating shows the position of South Africa remained unchanged at 82 in 2018 from in 2017. However, the ease of doing business in South Africa is currently averaged 54.4 from 2008 to 2018.
South Africa is one of the most sophisticated emerging market in the world. The unique combination of well-developed financial markets from the first world and the rapidly evolving market economy have become an entrepreneurial and dynamic investment environment with many global competitive advantages and opportunities.
Types of company in South Africa
- Public limited company
- Private limited company
- Personal liability company
- Partnership/ joint venture company
- Sole proprietorship
- Branch of a foreign company
CIPC Company Registration Online in South Africa
- Select the structure of your company.
- Choose the name of your company.
- Check the name availability of your company. Can be checked at: www.cipc.co.za
- Make CIPC company registration online name reservation.
- Select the type of company that you want to register from the CIPC online portal.
Post CIPC Company Registration Online Process
- Opening a corporate bank account
- Registration for VAT & Tax with South Africa Revenue Service (SARC)
- Registration of the company with the Department of Labor for unemployment insurance fund
Require documents for CIPC Company Incorporation
- The notice of incorporation form
- Confirmation certificate of name reservation.
- Company shareholders and directors Nation ID and Passport copy
- Company incorporation certificate.
- Complete VAT 101 FORM to register your company for VAT with South Africa Revenue Service
- Complete WAs2 FORM to register the company with the Department of Labor.
- Complete UI8 FORM for unemployment insurance .
- Complete EMP101 FORM for Pay as You Earn tax (PAYE).
Advantage of CIPC Company Formation
|South Africa is the most developed economy in Africa.||The corporate tax rate of South Africa can affect small size organization.||Unemployment rate is higher|
|Labor cost in South Africa are comparatively less||South Africa is not among the top 50 country in ease of doing business rankings||It’s very difficult to find skilled workers.|
|Business registration process in South Africa is much simple and easier||People in south Africa is multicultural and spoke different types of language||It can take more than two years to resolve insolvency|
Advantages & Flaw of Registering company with CIPC
Company registration directly with CIPC is cheaper than other forms of registration. This is because CIPC does not issue any share certificates. This is one of the disadvantages of register your company with CIPC as bank want to know every detail of the company owner while opening a corporate bank account. However, to register a bank ready company with all supporting documentation, it’s better to register the company with profession company registration business.
CIPC company registration Fees South Africa
- Free business advisory service
- Toll-Free consultation is available 24/7
- We have experienced professionals, who will handle all your company registration process.
- Our fees are affordable for all size of the company.
- Our Money-Back Guarantee.
- Tentative CIPC company registration fees in USD 1000 only.
FAQ of CIPC Company Registration
If all the documents are prepared correctly and submitted on time, it will take a maximum of 5 to 7 days to register a CIPC company in South Africa.
The company registration cost varies depending on the type of company that you want to register. Contact us for details.
There are mainly two requirements – 1. Must sure to employ at least 60 percent south African citizen. 2. Must invest a minimum amount of R5 million in the business.
Yes! Foreigners are allowed to buy property in South Africa without any restriction (Foreigner must hold legal work permit visa). Foreigners who are staying in South Africa illegally are not permitted to buy a property.