. It is important to understand
the differences between a
and the table below provides some
information in this regard.
Please note that we strongly advice you seek professional assistance
before making your decision. Our business experts look forward to
assisting you in this regard. Simply contact us using the link below.
| Private Company |
Close Corporation |
| Juristic Person |
Juristic Person |
| Enjoys Perpetual Succession |
Enjoys Perpetual Succession |
| Can Have A Maximum Of 50 Members |
Can Have A Maximum Of 10 Members |
| Companies Can Be Shareholders |
Companies Cannot Hold A Member’s Interest |
| Comprised Of Directors And Shareholders |
Comprised Of Members |
| Has A Memorandum |
Has A Founding Statement |
| Registered Articles Of Association |
Articles Of Association Are Not Required |
| Compulsory Annual Return To Be Lodged |
No Annual Return To Be Lodged |
| Has Share Capital |
Has Member’s Contributions |
| Has An Auditor |
Has An Accounting Officer |
| Convenes An Annual General Meeting |
Annual General Meeting Not Required |
| Certificate Of Incorporation |
Certificate Of Incorporation |
| Members Hold Shares |
Members Hold Member’s Interest |
| Can Acquire Its Own Shares Under Certain Circumstances |
Can Purchase A Member’s Interest |
| Directors Are Responsible For The Day To Day Management
Of The Company |
Members Are Responsible For The Day To Day Management Of
The CC |
| Register Of Members |
No Register Of Members |
| Limited Liability |
Limited Liability |
| Audited Financial Statements |
No Financial Statements needed |
| Prohibition On A Company To Provide Financial Assistance
For The Acquisition Of Its Own Shares |
No Prohibition On A CC To Provide Financial Assistance For
The Acquisition
Of A Member’s Interest |
