COID Registration and a Letter of Good Standing at the Department of Labour. First of all lets look at the downsides of using a company structure.
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Company will only be added to the company registration queue after the proposed name has been approved.
What to do after registering a company. If all proposed names fail then. Register your business to make it a distinct legal entity. Company Registration at the CIPC.
If you have not yet reached the R1m threshold you will need to consider from a business strategy point of view if you should voluntarily register for VAT. A company is only required to register for VAT once it has reached a turnover of R1m for a period of 12 months. If your company is legally registered no-one can use your name.
Heres the downside to registering a company. Applying for a name as part of the process. Essential documents you need after company registration in South Africa with an infographic 1.
Plus no-one else can claim your business name and sell the products that you offer. What is a Register of Members. After registration your company must within two months issue each shareholder with a Share certificate.
The major disadvantage is that many people spend too much time focusing on registering a company before they have even established that they have a viable business opportunity. A share certificate is evidence of each shareholders title to their shares. B-BBEE Certificate or Affidavit.
Shareholders can use their certificate as evidence if their name is deleted from the companys internal Register of Members. However you may voluntarily register for VAT. Click on this option if you want to apply for a name as part of the process.
How and where you need to register depends on your business structure and business location. Another benefit is that the business finances are treated as separate to your personal finances. Employer Tax Registration at SARS.
Register a company using an enterprise number as the name. Dont let this happen to you.
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