Life Purpose business - Course 1 Step 2
Register your business
Watch the video to discover how to register your business
In South Africa Close corporations are no longer registered so you would be registering a PTY LTD. Here is where it is very important to decide what you will be doing with your company. If you are just a one man band that will be doing a service, there is no need to register a company to begin with. You can run as a “sole proprietor” which means you don’t have any partners, it is just you, and you will probably never go big enough to register for VAT (over R1 million turnover per year). If you ever want to get a loan, buy a vehicle or buy a property through your company, or bid for a government tender you will have to be registered.
If you Google “company registration” you will find plenty of companies that can do this for you, it takes about 2-6 weeks. FNB has recently started a service where they register your company and open a bank account all online in one easy form for only R125 and it only takes 10 days!!!!
Follow this link to do that: www.fnb.co.za/cipc/
Alternatively you could register it yourself on the www.cipc.co.za website. It also cost R125, which you need to pay into their account and wait to reflect in your CIPC account (takes a couple of days). If you do the registration and return the documents needed, you might even receive your proof of registration the same day!
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