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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NEW 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 email us at info@bdoyle.co.za or drop us a DM.

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportCONVERSION 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

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportPRE-REGISTERED CUSTOMS COMPANY

We have limited stock on our pre-registered shelf company packages!!!!! Package deal includes:
• Shelf company (2018)
• Income Tax Registered
• Tax Clearance Certificate
• Pre-registered import and export code (Customs)
• Valid Bank Account
• Change of directors, Registered address, Auditors (preparation)
• Change of directors, Registered address, Auditors (lodgement)
• Change of shareholding

Contact us at info@bdoyle.co.za for more details

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #export2012 REGISTERED SHELF COMPANY

We have just one left in stock. 
Package deal includes:

Option 1 : Costs: R10,000 which includes:

Shelf PTY (2012 Registered)
Change of directors, registered address and auditors (preparation and lodgement)
Change of shareholding

Option 2 : Costs: R12,000 which includes:

Shelf PTY (2012 Registered)
Change of directors, registered address and auditors (preparation and lodgement)
Change of shareholding
Change of name
Name Reservation application - first application only

Contact us info@bdoyle.co.za

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportRESTORATION OF A DEREGISTERED ENTITY

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

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportDo you require any amendments to your Company or Close Corporation? Look no further. We offering the following Amendment options:

Change of Directors
Change of Year End
Change of Shareholding
Change of Members
Change of Auditor
Change of Accounting Officer
Change of Name 
Change of Registered Adress
Change of Public Officer

If you need assistance with any company amendments please contact us on info@bdoyle.co.za or pop us a message with your email so we can contact you.

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportPREREGISTERED VAT ENTITY

We have stock of our preregistered VAT entities, which includes the following: •Shelf (PTY) LTD
•VAT Vendor Registration
•PAYE/UIF/SDL Registration
•Income tax registered
•Customs registration, both Import and Export
•Efiling profile activated, ready to be released to your accountant
•Business bank account with Standard Bank, linked to all •SARS registrations
•Internet banking to be activated with your preferred username and password upon change of signatory
•Change of directors and registered address (preparation and submission)
•Change of shareholding

If you are interested please contact us at info@bdoyle.co.za

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportNEW 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 email us at info@bdoyle.co.za or drop us a DM.

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #exportsNEW 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 email us at info@bdoyle.co.za or drop us a DM.

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretary #tax #VAT #custom #import #export