CIPC registration - what to know

Ready to turn your small business into a big-time player? It's time to make it official and register with CIPC! Trust us, you won't regret it.

Why register, you ask? Well, for starters, it gives your business that extra legitimacy and credibility that customers and investors love to see. Plus, it opens up new opportunities for growth and expansion.

But wait, what exactly is CIPC? It's short for Companies and Intellectual Property Commission, and they're the ones who handle all the legal stuff when it comes to business registration.

We spoke to Anne, a director of MWRK Accountants and Consultants, to help us make sense of the jargon and the registration process.

We asked Anne popular questions about CIPC registration, which she expertly answered with practical information and tips.

1. "Log onto the CIPC website.

2. Go to Eservices -> transact -> name reservations -> proposed name -> and then enter 3 names in order of preference. 

3. CIPC will respond to the email that is registered on your profile."

“This can be done via the eServices transact or Bizportal option.

We have not used the Bizportal option, so I will only comment on the Eservices function.

1. Log onto the CIPC website.

2. You can register a company with a name or a numerical number provided by CIPC.

3. If you choose the name option, first apply for the name. Once you have confirmation from CIPC that the name has been approved, you can apply for the company.

4. Go to Eservices – transact – company registration and complete all the details. The form will be emailed to you with all the details that you have entered. If you decide to use this option, this must be signed by the directors and incorporator and uploaded onto the CIPC website together with the certified copy of the director’s identity document and name approval.”

Anne gave us some great practical tips, but we understand if you still have questions about CIPC registration. Don't worry, we've got you covered!

Keep reading for more information.

An annual return is kinda like a birthday celebration for your company. It's a way to show the Companies and Intellectual Property Commission (CIPC) that your company is still up and running, or maybe even gearing up for a new year of success. It's a way to keep your company's records up to date and stay on the CIPC's good side.

First, you'll need to conduct a thorough name search to ensure that your desired name is available and not already taken by another company. Once you've confirmed the availability of the name, you can then proceed to complete and submit the necessary forms and pay the required fees to the CIPC. If everything is in order and your application is approved, you'll receive confirmation and can proceed with your business plans under your new name.

If the CIPC has not approved the first name you submitted, you will need to apply for multiple names. Each application allows you to apply for between 1 and 4 names, with a fee of R50 for each application. Once the CIPC approves the name you have applied for, you will receive written confirmation that the name is registered for your company. The reservation is valid for six months, within which you must use it for company registration.

• Can you extend the reserved name? Heck yeah, it is possible to extend the reserved name for 60 business days at a time by submitting an application along with an additional fee of R30. It's important to note that the extension must be requested before the expiry date, ideally in the month prior. It's not possible to extend a name that has already expired.

• Can you transfer a reserved name? You can only transfer a reserved name if you have already registered it. To transfer the name to another individual, you must complete and sign a notice of transfer from one customer code to another. Please note that a transfer cannot be made once the reserved name has expired.

Regardless of whether you register your small business with CIPC, you must register it with SARS.

Here are some key insights on why registering with SARS is essential and what it means for your company:

First and foremost, registering with SARS is a legal requirement for any business that is liable to pay tax. You don't want to mess around with the taxman, trust us on this one. Plus, registering with SARS shows that you are a legitimate and responsible business owner who is committed to following the rules.

But registering with SARS isn't just about avoiding trouble with the law. It also opens up a world of benefits for your business. For one, it allows you to access funding and support from government programs designed to help small businesses grow. Who doesn't love free money, am I right?

Another advantage of SARS registration is that it gives your business credibility in the eyes of customers, suppliers, and investors. It shows that you are a professional operation that takes its financial responsibilities seriously. And let's face it, who doesn't want to do business with a credible and reliable company?

So, what does registering with SARS actually entail? Well, it's a fairly simple process that can be done online. You'll need to provide some basic information about your business, such as its name, address, and type of entity. SARS will then issue you with a tax reference number, which you'll use to submit your tax returns and pay your taxes.

In summary, registering with SARS is not only a legal requirement but also a smart business move that can open up opportunities for growth and give your company credibility.