In both scenarios of an application for a business permit or foreign company setting up operations in South Africa and establishing a local entity, there will be a requirement to go through South Africa Business Registration Process for Pty Ltd.
Reservation of the Business Name
Before a Pty Ltd can be registered the favoured name must be approved and reserved. The proposed name/s (up to three) will be checked with the name registrar on the grounds that no similar or comparative name exists and that the proposed name is not offensive. Afterwards the Registration Office confirms the name reservation, which is valid for 2 months.
Private Company (Pty) Ltd Incorporation
Only once the proposed name has been approved and reserved can the actual registration of the company be processed. Afterwards the new established business gets a registration number.
The forms required for the Pty Lyd registration are:
- Notice of Incorporation (CoR 14.1):
- Memorandum of Incorporation (CoR 15.1 A-E)
In addition, the registration with the appropriate authorities must be arranged:
- Receiver of Revenue which is responsible for Income Tax, Employees Tax, Value-Added Tax (VAT);
- Unemployment Insurance Fund (U.I.F.);
- Regional Services Council (R.S.C.).
Other authorities with which registration may be necessary are local licensing authorities and/or health authorities.
When any changes are made in respect of a registered Close Corporation, it is necessary to notify CIPC. Changes may, for example, relate to any shareholding or changes regarding the Accounting Officer, or the postal address of the Pty Ltd.
Kindly be advised to reflect on your choice of name carefully, because once registration has taken place, no further name changes are possible.