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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External Company

What is an external company?

A foreign or external company is a company incorporated outside of South Africa, irrespective of whether it is a profit or non-profit company or carrying on business in South Africa. A foreign company is prohibited from offering securities to the South African public unless it follows the specific provisions of the Companies Act, 2008, relating to offers to the public.

A foreign company is required to register as an “external company” with the CIPC if it conducts or intends to conduct business in South Africa. Section 23 of the Companies Act, 2008, lists a series of activities which will be regarded as conducting business.
This list includes: • Holding a meeting or meetings of shareholders or board of the foreign company, or otherwise conducting the internal affairs of the company;
• Establishing or maintaining any bank or other financial account;
• Establishing or maintaining offices or agencies for the transfer, exchange or registration of the foreign company’s own securities;
• Creating or acquiring any debts, mortgages, or security interests in any property;
• Acquiring any interest in intellectual property; and
• Entering into contracts of employment.

If you need assistance with this 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 #companysecretaryPRE-REGISTERED CUSTOMS COMPANY
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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
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Contact us at info@bdoyle.co.za
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#import #export #imported #exports #shipping #ship #cargo #trade #business #makingmoney #money #courier #logistics #freight #sky #sunset #importandexport #company #ptyltd #companyregistration #shelfcompany #secretary #companysecretary #corporation #saica #cima #saipaNPO (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

#company #companyregistration #instagood #companysecretary #secretarial #secretary #ptyltd #corporation #makingmoney #money #NPO #charity #nonprofitorganization #nonprofit #publicbenefit #business #work #shelfcompany #workaholicIMPORT EXPORT CODE REGISTRATIONS!!!
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We can register your company for import export code if you meet the following basic requirements:
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-All directors/members of the entity must be registered for personal income tax
-The entity in questions must have a valid bank account
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If you are interested please contact us at info@bdoyle.co.za
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#import #export #imported #exports #shipping #ship #cargo #trade #business #makingmoney #money #courier #logistics #freight #sky #sunset #importandexport #company #ptyltd #companyregistration #shelfcompany #secretary #companysecretary #corporation #saica #cima #saipaWhat is a Private Company PTY (LTD)? A private company is the most common and simplest form of company to be registered. It is comparable to a close corporation. Close corporations are no longer registered.

Private Companies may not offer shares to the public and restrictions are also placed on the transferability of their shares. Private companies must have at least one director and one incorporator. The director and incorporator may be the same person. The word “person” includes a juristic entity. This means that a legal entity or a trust may be an incorporator of a new company.  Most private companies are owner managed and tend to have a smaller number  of directors. 
If you are interested in purchasing a PTY LTD shelf company without any amendments please complete the following online form:

www.bdoylegroup.wufoo.eu/forms/shelf-company-order-form/

If you wish to register a new PTY LTD you are more the welcome to complete the following online form:

www.bdoylegroup.wufoo.eu/forms/new-company-registration/

#company #business #pty #privatecompany #CIPC #companylife #money #instagood #southafrica #jozi #sandton #companyregistration #shelfcompany #SARS #cipro #PTYLTD #makingmoney #futureisnow #enterprise #corporation #secretarial #secretarialservices #companysecretaryGood morning everyoneHave a great Monday everyone. www.bdoyle.co.za