Why use our company to register your business?
SHELF COMPANY is affiliated with SA COMPANY FORMATIONS who specializes in providing legal firms, auditing practices and the general public with quick, simple and professional assistance in registering companies. This also includes the sale of shelf companies. Combined our team has over 45 years’ experience in the field and we are therefore able to assist with all your queries promptly. We employ both Attorneys and Chartered Company Secretaries and are therefore able to assist with any corporate governance matter.
We assist companies with the ever increasing legal and administrative burdens that are placed on its directors. With the release of King IV and the implementation of the Companies Act 71 of 2008 constant vigilance is required.
By providing a full company secretarial service to companies we ensure that all obligations of directors and prescribed officers are met on an ongoing basis, thus allowing management to concentrate on driving your business.
Our approach to sound company secretarial adherence is threefold comprising audit, statutory and governance.
What is a Shelf Company?
A Shelf Pty company is a company that has been registered with the first nominated director. The Shelf PTY registration name and number is immediately available and is suitable for someone wanting to purchase a property or for tender applications.
I have submitted my application, what happens next?
You will receive an e-mail confirming receipt of your application with a request to forward a clear copy of the ID of the director/s and confirmation of payment.
How long does the name reservation application take to be processed by CIPC?
It can take up to 24hrs depending on delays at CIPC which is beyond our control.
What happens after the name application has been approved by CIPC?
We will notify you via e-mail of the name approval and will then forward you the document for signature by the directors. Once we have received the documents we will then submit the application to CIPC.
How long does registration take after submitting signed documents to CIPC?
It takes about 24 hrs to be registered with regards to the change of director and 5 days to change the address of the company.
What will I receive after the Shelf Company amendments has been registered?
You will receive the registration certificate and company documents which will include the Memorandum of Incorporation (MOI), share certificate, inaugural minutes and electronic company register.
Is the Shelf Company registered for income tax?
Yes, all companies are registered for income tax.
Can I apply for a tax clearance certificate and is it necessary upon registration of my company?
It is not a requirement upon registration of the company unless you are applying for a tender. You can contact our office to apply and we will advise what is required and cost.
Can I apply for a BEE Affidavit and is it necessary upon registration of my company?
It is not a requirement upon registration of the company unless you are applying for a tender. You can contact our office to apply and we will advise what is required and cost.
What is a share certificate and is it required?
A share certificate is confirmation as to who the shareholders are of a company and will be required when opening a bank account and also to provide to suppliers if requested and when applying for a tender.
What is the difference between a director and a shareholder?
A shareholder is the owner of the company and the director managers the company on behalf of the shareholders and is responsible for the daily running of the company.
Can a director be a shareholder?
Yes they can.
Can a foreigner register a company in South Africa?
Yes, so long as the person registering the new company has a valid passport.
Who can be a director of a company?
Any natural person with a valid identity document or passport can be a director of a company.
Who can be a shareholder of a company?
Any legal entity or natural person can be the shareholder of a company.
Who can register a company?
Any natural person can register a company in South Africa in their capacity as the first director of the new company.
Why should I register a name for my company?
If you register a name for your new company, this will then provide you with common law protection over your trading name.
What are the different types of companies that can be formed?
The Companies Act provides for 2 types of companies, namely – non-profit companies (the previous Section 21 companies); and profit companies, namely, private companies, personal liability companies, public companies and state-owned companies. A non-profit company has a comparable status to a non-profit company under the old Companies Act, and is incorporated for a public benefit …
What is a non-profit company?
It is a company that is incorporated for a public benefit purpose. It may not distribute profits to its members or directors but directors are entitled to reasonable compensation for services rendered. A minimum of three directors must be directors of a non-profit company. The name of a non-profit company will end with “NPC”.
What is a personal liability company?
It is similar to a private company with the distinguishing factor that the directors and past directors are jointly and severally liable, together with the company. It name must end with the word “Incorporated” or the abbreviation “Inc”.
What is a private company (Pty) Ltd?
A Pty Ltd is a private company that is trading for profit, a separate legal entity distinct from its shareholders. A private company (Pty) Ltd cannot offer its shares to the public, has fewer disclosure and transparency requirements and must compromise of at least one director. A private company (Pty) Ltd can have as many …
What is a public company Ltd?
It is a company that can offer its shares to the public. It has more disclosure and transparency requirements than a private company. The name of a public company must end with the expression Limited or is abbreviation “Ltd”.
What is an external company?
It is a foreign company that is carrying on business in South Africa. All foreign companies must register in South Africa within 20 days of conducting business within South Africa.