Company Types

PRIVATE COMPANY (PTY) LTD
PRIVATE COMPANY (PTY) LTD
PUBLIC COMPANY (LIMITED)
PUBLIC COMPANY (LIMITED)
STATE-OWNED COMPANY (SOC)
STATE-OWNED COMPANY (SOC)
EXTERNAL COMPANY
EXTERNAL COMPANY
PERSONAL LIABILITY COMPANY (INC)
PERSONAL LIABILITY COMPANY (INC)
NON-PROFIT COMPANY (NPC)
NON-PROFIT COMPANY (NPC)
What is a Private company?

Private companies are comparable to companies of the same status under the Companies Act, 1973 and are characterised by the following:

  • They are subject to fewer disclosure and transparency requirements.
  • A private company will still be prohibited from offering its shares to the public and the transferability of its shares will be restricted, but it may now have more than 50 shareholders.
  • The name of a private company must end with the expression “Proprietary Limited” or its abbreviation “(Pty) Ltd”.
  • The board of a private company must comprise at least one director, or any other minimum number as stipulated in its MOI. Each incorporator is a first director of the company. (Company Types)

 

What is a Public company?
Public companies are comparable to companies of the same status under the Companies Act, 1973. They are characterised by the following:

  • Their MOI permits them to offer shares to the public but restricts limits or negates their right of pre-emption.
  • The name of a public company must end with the word “Limited” or its abbreviation, “Ltd”.
  • A public company must have at least three directors.

 

What is State-owned company (SOC)?
State-owned companies were often incorporated or registered under the Companies Act, 1973 but were not recognised in that Act as requiring separate legislative treatment in respect of certain matters to avoid conflict or overlap with other legislation specifically applicable to them, and not to companies. An SOC is either a company defined as a “state-owned enterprise” in the Public Finance Management Act 1of 1999, or is owned by a municipality as contemplated in the Municipal Systems Act 32 of 2000, and is otherwise similar to an enterprise as referred to above. The name of a state-owned company must end with the expression “SOE Ltd” (Company Types)

 

What is an External Company?
An external company is a foreign company that is carrying on business or non-profit activities within the Republic. It must register with the Companies and Intellectual Property Commission (CIPC) within 20 business days after it first begins to conduct activities within the Republic as an external non-profit company (NPC) or as an external company.

 

What is a Non-profit company?
A non-Profit Company is a company that is incorporated for a public benefit or other object as required by Item 1(1) of Schedule 1 of the Companies Act. Its income and property are not distributable to its incorporators, members, directors, officers or persons related to any of them, except as reasonable compensation for service rendered. Three (3) persons and 3 directors may form an NPC. (Company Types)

 

  • They are incorporated for a “public benefit purpose”.
  • Income and property may not be distributed to the incorporators, members, directors or officers of a non-profit company, except for reasonable compensation for services rendered by them.
  • The name of a non-profit company will end with “NPC”.
  • A minimum of three persons, called incorporators, must complete and sign the MOI.
  • A minimum of three directors must be appointed.
  • All of a non-profit company’s assets and income must be used to advance its stated objectives, as set out in its MOI.
  • Non-profit companies are subject to a varied application of the Act, as set out in section 10.
  • A special set out fundamental rules for non-profit companies is set out in Schedule 1 of the Companies Act, 2008.
  • According to these rules, the objects of non-profit companies remain subject to the current principles. Furthermore, on their dissolution, non-profit companies are restricted in terms of the distribution of any residual assets. These special rules also include various other matters unique to non-profit companies.

 

What is a personal liability company?
A personal liability company is comparable to companies contemplated in section 53(b) of the Companies Act, 1973.
Its name must end with the word “Incorporated” it meets the criteria for a private company, and its MOI provides that the directors and past directors are jointly and severally liable, together with the company, for any debts and liabilities of the company that were contracted during their respective terms of office. (Company Types)

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MID YEAR SPECIAL!
Sale on aged Shelf Companies valid until the end of July 2019.

All of our 2017 and 2018 Shelf Companies are now less 50% - valid while stocks last!

Available on package options only, which includes all the changes.

Please enquire at info@bdoyle.co.za or 
on 011 268 6652

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #secretarial #business #secretarial #makingmoney #company #business #secretarial servicesCONVERSION FROM A CC TO A PTY LTD

Why your clients should convert their Close Corporations to a Private Company?

Firstly, the principal reason for why close corporations were introduced in 1984 was to cater for the owner-managed type company that did not justify having the same administrative, secretarial and assurance requirements of a medium or large company, including the audit function.

However, with the new Companies Act reporting standards are based not on whether the company is a public or private company in terms of its number of shareholders, but on the concept of public interest exposure, known as the PI Score.

Most Close Corporations are owner-managed and in terms of section 30(2A) of the Companies Act, owner-managed companies do not require to be audited or independently reviewed, unless their public interest score is in excess of 350 points or between 100 and 350 and their financial statements are compiled internally.

On conversion Close Corporations must meet the Solvency and Liquidity Test-a compelling reason to ensure that the company is solvent, liquid and economically viable.

The converted Close Corporation will enjoy the benefits of the Business Judgment Rule of section 76(4), which applies to directors, not members.

B Doyle can assist you in converting your close corporation to a private company.

Contact us at Info@bdoyle.co.za

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #secretarial #business #secretarial #makingmoney #instagram #instagood #company #business #secretarial servicesNPO (NON PROFIT ORGANISATION)

An NGO is a Non-Government Organisation, which is a generic umbrella name for the following:

1) Register an NPC (Non Profit company - Old Sec 21 co),
2) Amend the MOI to be in line with the ninth schedule
You will then decide which registrations you require:
Registration as an NPO with Social Welfare - (Non-Profit organisation i.e. an NPC who requires registration with the Dept. of Social Development, so it can fundraise)
Registration as an PBO with SARS - application for tax exemption - (Public Benefit Organisation i.e. an NPC who requires tax exemption status with SARS, so it can become tax exempt)

Should you require these services please contact us 
info@bdoyle.co.za

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #import #export #custom #secretarial #business #secretarial #makingmoney #company #business #secretarial servicesNEW COMPANY FORMATION

The New formation (Company Registration) of a company is the creation of a brand new company with no prior history and is registered directly into the names of the directors of your choice. 
Let us start your dream today, Let us assist with your company registrations today.

The most popular company to register is a standard private company which will be a proprietary limited or (Pty) Ltd company. This will only require a minimum of one director.
For other company types such as a non-profit, a minimum of three directors is required. We will be able to give you accurate information in this regard.

When creating a new company (Company Registration) is it referred to as a “new formation” and the following steps will be taken:
1) Name reservation – you will be required to register a valid name for your company. If you need us to do this for you, we can certainly assist you.
2)New Formation (Company Registration)– Once the name reservation has been approved, we then attend to the company registration process on your behalf.
The time frame for Company Registrations is dependent on CIPC.

If you wish for us to assist you with a new company formation please follow the link below:

https://bdoylegroup.wufoo.eu/forms/new-company-registration/

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #secretarial #business #secretarial #makingmoney #company #business #secretarial #makingmoney #instagram #instagood #company #businessWhat is an External Company?

An external company is a foreign company that is carrying on business or non-profit activities within the Republic. 
It must register with the Companies and Intellectual Property Commission (CIPC) within 20 business days after it first begins to conduct activities within the Republic as an external non-profit company (NPC) or as an external company.

If you need assistance with your external company contact us at : INFO@BDOYLE.CO.ZA

#company #business #secretarial #makingmoney #company #business #secretarial #makingmoney #instagram #instagood #import #export #custom #vatANNUAL RETURNS 
All companies (including external companies) and close corporations are required by law to lodge their annual returns with CIPC within a certain period of time every year.

An annual return is a statutory return in terms of the Companies and Close Corporations Acts and therefore MUST be complied with. 
Failure to do so will result in the Commission assuming that the company and/or close corporation is not doing business or is not intending on doing business in the near future. 
Non-compliance with annual returns may lead to deregistration, which has the effect that the juristic personality is withdrawn and the company or close corporation ceases to exist.

We unfortunately cannot assist with filing the annual returns if your company is audited.

If you need assistance with your Annual returns contact us:
Info@bdoyle.co.za

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #secretarial #business #secretarial #makingmoney #company #business #secretarial services #followNPO (NON PROFIT ORGANISATION)

An NGO is a Non-Government Organisation, which is a generic umbrella name for the following:

1) Register an NPC (Non Profit company - Old Sec 21 co), 2) Amend the MOI to be in line with the ninth schedule
You will then decide which registrations you require:
Registration as an NPO with Social Welfare - (Non-Profit organisation i.e. an NPC who requires registration with the Dept. of Social Development, so it can fundraise)

Registration as an PBO with SARS - application for tax exemption - (Public Benefit Organisation i.e. an NPC who requires tax exemption status with SARS, so it can become tax exempt)

Should you require these services please contact us 
info@bdoyle.co.za

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #import #export #custom #secretarial #business #secretarial services #companyRESTORATION OF A DEREGISTERED COMPANY OR CLOSE CORPORATION 
If your entity has been deregistered by CIPC for failing to submit annual returns and you need assistance to restore it you have to meet one of the following requirements: •The entity must own property (Copy of property title deed or bond statement required)
•Was / Is trading Either at the time of deregistration or currently (Proof required by means of a bank statement)
•Owns shares in another entity (Share Certificate required)
•By Court Order (No supporting documents are required if you have a Court Order)

If you are interested in restoring a company, please email us at 
info@bdoyle.co.za

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #import #export #custom #secretarial #business #secretarial #makingmoney #company #business #secretarial servicesNPO (NON PROFIT ORGANISATION)

An NGO is a Non-Government Organisation, which is a generic umbrella name for the following:

1) Register an NPC (Non Profit company - Old Sec 21 co), 2) Amend the MOI to be in line with the ninth schedule
You will then decide which registrations you require:
Registration as an NPO with Social Welfare - (Non-Profit organisation i.e. an NPC who requires registration with the Dept. of Social Development, so it can fundraise)

Registration as an PBO with SARS - application for tax exemption - (Public Benefit Organisation i.e. an NPC who requires tax exemption status with SARS, so it can become tax exempt)

Should you require these services please contact us 
info@bdoyle.co.za

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #import #export #custom #secretarial #business #secretarial services #company #business #secretarial #makingmoney #instagram