Text Box: Can we still register a Close Corporation in South Africa? No, As of 1 May 2011: No new CC's will be registered, but all old CC's will continue to function as normal - We can continue to do CK'2 amendments on your CC - which means change members, and details etc - However if you fail to pay your annual returns, and it reaches final deregistration, you will not be able to reregister your CC - All new companies will be (Pty)Ltd but with some differences Under this new Act will an audit be required on small Companies? A full audit will not be required on small companies. To decide whether or not an audit is required, a point system will be instituted. One point per million turnover and one point per staff member, and another point for every million unsecured debt. At last discussion with cipro, you would need 350 points before an audit is required. In other words small companies will not need an audit. ---New companies will not need to appoint an accounting officer or auditor during registration. -- Annual Returns will now be submitted with a breakdown of your books. Can a Non-South African be a member of a CC? Yes, one or all members of a CC can be Non-South Africans provided the following are provided: A copy of your passport A signed letter of current status Are there any risks involved in owning a CC? A CC operates separately from its members’ personal life. If someone gets accidentally hurt through the business for example, members are not liable in their personal capacity if they acted responsibly in the matter. CCs have a very low risk rate on their members compared to other forms of ownerships. How can I pay BDF for the services offered? Please see our banking details. What is a Business Profile? A business profile is detailed description of your business, services or products. Is it possible for me to receive my CK certificate via post? YES, we can send you the certificate as well as other products like business plans, letterheads etc. via mail. This method of delivery requires an additional fee. Who will register a trademark for us? Please contact CIPC on 0861002472 Which Accounting Officer must I use? Although we will appoint an Accounting Officer for you, you are free to appoint your own accounting officer. What happens if my name reservation is unsuccessful? Should the name reservation be unsuccessful, for example, the Registrar found that a comparative name already exists or the name is rejected, for what ever reason, then a new name reservation should be completed and forwarded to us. A fee of R170 is payable. When must Companies and Closed Corporations submit annual returns to the Registrar of Companies? All Companies and Closed Corporations are required to submit annual returns each year on the Anniversary month of the enterprise. Please click here to submit a return. Is it compulsory to submit an annual return? Yes, should a business fail to comply for a period of six months, the Registrar will conclude the business and declare it to be deregistered.

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