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)

Twitter
BDoyle5 on Twitter
0 people follow BDoyle5

bdoylegroupsa
224
 Photos
257
 Followers
523
 Following
CONVERSION FROM A CC TO A PTY LTD

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

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 #instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #makingmoney #company #business #secretarial servicesSHARES 
AVAILABLE SHARE SERVICES:

Issue New Shares
Transfer of Shares
Convert and Increase Authorised Shares
Increase of Authorised Shares
Par Value to No Par Value Shares
Adding Preference Shares
Adding - A and B Class Shares
Convert and Increase Authorised Shares

For more information contact us at Info@bdoyle.co.za

##instagram #instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #makingmoney #company #business #secretarial servicesRESTORATION 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 #secretarial servicesWe 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.
•E-filing 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

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #makingmoney #company #business #secretarial services🎉🎉EXTENDED SPECIAL !!🎉🎉 The Black Friday special on our 2017 & 2018 shelf companies has been extended until further notice due to popular demand. ⚠️PLEASE NOTE: 
All lodgements must be done before Thursday 12 December as our offices will be closed from 12 December 2019 - 6 January 2020. All SARS lodgements to before 6 December - no SARS lodgements will be done after 9 December.

https://mailchi.mp/bdoyle/reduced-package-deal-1599855

#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #makingmoney #company #business #secretarial services#holidays #instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vat #makingmoney #company #business #secretarial #makingmoney #company #business #secretarial services#blackfriday #instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vatican #makingmoney  #deals#instagram #instagood #cipc #smallbusiness #cipro #import #export #custom #vatican #makingmoney #company #business #secretarial #serviceShare Block companies

We can either convert an existing company into a share block or register a new one.

By law, a seller may not sell shares in a share block scheme unless the company has the words