In our technologically evolved world, it is no longer necessary to leave your home and wait in never-ending lines in order to register a business. You can register your business online with 1-grid. How great does that sound?
There are certain rules and regulations are regarding company registration that you need to familiarise yourself with. With 1-grid company registration we take care of all the nitty-gritty details.
Below we will look at how to register your company with 1-grid:
How to register your company
Step 1: Choose your company and domain name
First and foremost, give your company a name. Selecting a strong, memorable name also facilitates successful marketing and branding initiatives. You can check if your desired name and domain are available directly on the website. This saves you a lot of time. Once you have selected your name and it is available, you can proceed to step 2.
Step 2: Create an account or sign in
After selecting your company and domain name you need to sign in to your 1-grid account. If you do not already have an account you can create one by providing the following information:
Step 3: Add your business details
Great, your account is created! Now let’s get down to business. In step 3 you need to fill out your company details: the address and financial information. If your business does not have a physical address you have the option of rather using your private residential address. This information is kept safe. You also need to provide a company email adress for taxation purposes.
Step 4: Choose your company directors
Now it is time to state who is in charge. You can add more than one director for your company. Once you have added their details you are basically done.
Step 5: Review information and complete purchase
Well done! You have just registered your company! In 5 easy steps, you can register online in minutes. At the moment your company registration fees are R599 upfront and then R99 annually. This is a little price to pay compared to the time and effort you need to put in when you choose to do it the old fashion way.
To read more about why you should register your company, we recommend you read this blog article.
What kinds of businesses are eligible for CIPC company registration?
- Non-profit organisations: An organisation formed for the public good or another purpose related to one or more communal, group, or cultural interests.
- Profit companies: Any company or organisation with the primary objective of producing money, such as retail establishments, eateries, insurance providers, and real estate agencies.
- Limited liability companies: Current and former directors of the company are jointly responsible for all debts and liabilities incurred while they were in office. The word “incorporated” appears at the end of the company name.
- Corporations that have issued securities through an initial public offering (IPO) and are traded on at least one stock exchange are referred to as public companies.
- Private businesses: These resemble what was once referred to as close corporations. Less disclosure and openness standards, a board that must contain at least one director, and an increase in the maximum number of shareholders are some modifications made to private firms. A private company’s name must include the words “Proprietary Limited” or “(Pty) Ltd.”
What is the time frame for company registration?
The Online PTY Registration states that a name reservation requires around 7 to 21 days. Depending on the volume of work being done by the registrar’s office and whether your documents were filed on time, a business certificate can be registered three to five days after that.
Can foreign nationals create a business in South Africa?
Yes. You must have a South African residence address and present a copy of a valid passport or RSA ID in order to do this.
If I’ve been put on a blacklist, can I proceed with company registration?
Yes, you can still apply to register a business.