Intergate Immigration Service has an expert team of immigration consultants and certified Home Affairs practitioners. The team has the latest knowledge on immigration legislation and has well established researched information on expected relocation procedures and changes.
Exchanging money can be a daunting experience. Our well-informed experts can save you avoidable charges. Incompass Financial Solutions will guide you through the exchange process. The experts will advise you on the best solutions, whether it is a lump sum of money or a staggered monthly transaction.
SA Homebuyers has been established with the aim of providing a sophisticated property buyers service. Acting as an independent property consultant, the service provides an unashamed bias towards protecting the buyers interest and assists in securing you the right property, in the right area and at the best price.
Seeking tax advice is never high up on anyone's shopping list, however the perception that tax advice is a necessary evil is not always correct. Yes it is true that tax advice helps you to comply with legislation and ensures compliance but it can also offer the opportunity to structure your affairs in the most tax advantageous fashion.
Whether it is house and home, car insurance, medical aid or commercial cover, Incompass Insurance offers a free and independent assessment on your specific insurance needs. Furthermore, Incompass Insurance is one of the biggest guest house insurance brokers in South Africa.
Opening up an appropriate bank account in South Africa often proves more difficult than you may think. We are able to provide our clients with advice on local banking, cash accounts for lump sums and Swiss banking.
Whilst it is no longer possible to form a new close corporation, it is still worth knowing the main features them. It is possible still to purchase a shelf close corporation, although availability of these will become screamingly more scarce, or you may find if you are buying an existing business its legal entity is that of a close corporation.
A close corporation has certain advantages and disadvantages over sole proprietorships.
To view a summary of comparisons please use the links below:
Audited financial statements are not required for Close Corporations
Meetings are not compulsory and can be held on an ad hoc basis
Close Corporations (CCs) may become shareholders in other companies
All members may take part in management of the Close Corporations
The proprietor or member is not personally liable for the debts of a Close Corporations (CC)
The legal procedures for registration and administration of a Close Corporation are kept relatively simple
Members of Close Corporations (CC)
The members of Close Corporations (CC) are the registered "owners" and are listed as part of the registration process.
Any changes in respect of the members of the Close Corporations (CC) must be notified to the Close Corporation Registration Office in Pretoria.
Non South Africans may be members of a Close Corporations (CC), provided that their membership details are authorised by the Registration Office
A Close Corporation may have a minimum of one member or a maximum of 10 members.
However there are no limitations in respect of the number of employees in a Close Corporation.
If a member of a Close Corporation (CC) is under 21, the registration document must be signed by a parent or guardian.
Can I Convert From a Close Corporation (Cc) To a Private Company Later On?
Yes. For example, a Close Corporation may have grown substantially and in order to expand even further, an injection of additional capital by way of shareholders may be envisaged.
Or, the CC may find itself competing with large companies (Pty’s) and believe that they too should become a Pty to “even the playing field” in the eyes of their market / customers. Accordingly, they decide to convert their CC to a registered company.
Easy to establish and to operate
The life of the close corporation is perpetual
Members have limited liability
Transfer of ownership is easy
Fewer legal requirements than a private company
No need for audit
Members restricted to 10 natural persons
More legal requirements than sole proprietorship
For guidance, advice and the setting up of a Close Corporation, please use the links below: