Company Registration
In South Africa, founding a company can be comparatively swift, unproblematic and affordable. IMCOSA has a network of partners who provide assistance with choosing the appropriate legal vehicle and performs the registration, including name reservation and registration of shareholders and directors. The following entities are available:
Close Corporation (cc)
- Can no longer be registered, but shelf companies still exist and are available
Private company (Pty Ltd)
- Limited liability of shareholders
- Shareholders can be natural or juristic persons
- Recognized vehicle for medium to large enterprises
Personal Liability Company (Inc)
- The directors are personally liable for the contractual debts and liabilities of the company
Partnership
- A relationship between two or more people, based on a partnership agreement
Business trust
- A contractual arrangement that allows trustees to hold assets (without owning them) for the benefit of the trust beneficiaries; trustees trade for profit, again for the benefit of the beneficiaries
Sole proprietorship
- A single-owner enterprise with a natural person as the owner
Public company (name ends in “Ltd”)
- Suitable for listing on the stock exchange
External company
- Local branch/subsidiary of foreign company
Domesticated companies
- A foreign company whose registration has been transferred to South Africa
Non-profit company (NPC)
- Set up for public benefit, or for a purpose relating to cultural or social activities, or communal or group interests, such as religion, sciences, education, arts, charity or recreation