Company Incorporation Package

As part of our goal to devise ways to deliver essential legal services at the highest quality and most value for money, we offer a new company set-up package tailored towards business start ups who require a company to be set up quickly and at a cost-effective price.

The aim is to provide our clients with a company at the lowest cost using a streamlined company structure. In addition, we will provide you with additional resources (including a “DIY Manual”) to refine the company shareholding structure, and the composition of the board, without incurring additional company secretarial expenses.

COMPANY SET-UP ∨
We will incorporate your company with a CIPC standard short form CoR 15.1A Memorandum of Incorporation (“MOI”) with a pre-determined number of “authorised” shares, which will then be available to be issued to the founders of the company. The company will, at incorporation, have a single director who will be appointed by you (and who will also be the “incorporator”), and will have a default company name, being its registration number.

PLEASE NOTE: This package does not include the issuing of shares. In order for your company to be able to operate, you will need to issue shares to at least one shareholder. However, we will provide you with resources explaining how you can do this yourself.

COST ∨
Our fee for incorporating the company and providing you with the supporting documentation as well as the DIY Manual will be R1,000 plus VAT and disbursements.
INFORMATION REQUIRED ∨
We will need the following information (this list will also be emailed to you):

Company registration information

  • company’s proposed financial year end, for example, the end of February each year;
  • company’s proposed registered address – note this must be a physical address;
  • company’s proposed postal address;
  • number of shares in the company’s authorised share capital, for example, 100 000 ordinary shares;

Director / incorporator information

  • full name;
  • identity number;
  • residential address;
  • business address;
  • mobile number;
  • postal address;
  • occupation;

Supporting documentation

  • certified copy of the identity document of the director (who will also be the incorporator) which must be less than three months old; and
  • CIPC form – once we receive the above information, we will submit it to the CIPC via their online portal and a form will be generated. We will then forward this form to you for signature by the director / incorporator in due course.

Please note that the sole director to be appointed will need to be a South African citizen with a bar-coded identity document. The reason for this is that the banks have very strict requirements in respect of opening up a business bank account once the company has been incorporated.

DELIVERABLES ∨

Upon registration of the company, you will get the following deliverables:

  • CoR 15.1A Standard short-form MOI;
  • CoR 14.1 Notice of incorporation;
  • CoR 14.1A Notice of incorporation – initial directors;
  • CoR 14.3 Registration certificate;
  • welcome letter from the CIPC;
  • tax registration: the CIPC automatically registers all new companies with SARS for income tax purposes.The income tax registration number will appear on the CoR 14.3 Registration certificate. Alternatively, you (as a director) can contact SARS for your company’s tax registration number; 
  • a “do it yourself” manual (the DIY Manual), which will empower you to perform many of the company secretarial tasks yourself once the company has been incorporated. This DIY manual will assist you with various further steps associated with post-incorporation, including how to issue shares to shareholders and add further director(s); and
  • templates (i.e. examples) of board and shareholders’ resolutions required to issue shares to shareholders and add further director(s), as well as a template securities register and share certificate.

POST INCORPORATION ∨

A few important points to remember once your company has been incorporated: 

  • company name: you can change the default company name assigned to your company at any time. Please see the DIY Manual for an explanation of the process;
  • auditor: private companies (such as your company) are not automatically required to appoint an auditor. We do, however, recommend appointing an accountant to provide your company with financial services. We would be happy to refer you to an appropriate service provider should you need a referral.

IMPORTANT: Please take note that the Companies Act, 2008 requires a number of ongoing company secretarial tasks to be performed in order for your company to be compliant. Such tasks include: 

  • securities register: maintaining and updating the securities register of the company whenever any action is undertaken in relation to the company’s shares;
  • annual returns: filing annual returns of the company with the CIPC within 30 business days after the anniversary of the incorporation date (this is submitted via the CIPC online portal);
  • directors’ register: maintaining and updating the directors’ register of the company whenever there is any change in the status of a director of the company (we will provide you with a template directors’ register as part of the template securities register);
  • resolutions: keeping records of all meeting minutes and resolutions of the board of directors and shareholders of the company; and
  • CIPC updates: various changes in relation to the company need to be recorded with the CIPC, including changes to directors, changes of the registered address of the company, changes to the authorised share capital, and any amendments to the company’s MOI (including changes to the authorised share capital and a name change).

Start the process

Rest assured, our start up team hopes to walk your business’ journey with you, and we can provide you with all the support required to complete your set-up, go live with your product, fund and grow your business. Please drop us an email to enquire further about our services.

If you’d like to learn more about company incorporation options, read Adrian’s recent article in Entrepreneur Magazine.