What is company registration?
Company registration means that your business is recognized by South African law and enjoys rights that an unregistered business does not. South African companies are registered under the Companies and Intellectual Property Commission (CIPC) that serves to protect businesses and hold them accountable, as well as functioning as a regulatory measure for businesses.
Why do you need to register your company?
There are a lot of benefits to registering your company like the fact that it protects your personal finances. Yours and the company's finances are treated as separate when the business is a registered company. It also allows you to open a separate business account and a separate income TAX number, meaning you file separate TAX returns and pay separate taxes. Your personal finances and the businesses are treated like separate entities.
Registering your company also gives your business legitimacy to potential funders and financial institutions. Securing funding to take your business to the next level is nearly impossible if your business is not registered. Registering your business also reassures your customers and legitimizes it from a consumer standpoint. When your business is registered your customers can trust that you’re a legit business and that you most likely than not, comply with industry standards, so therefore will deliver.
If you're also planning on seeking government funding and certain types of assistance or are looking to transact in the formal sector, you will be required to be registered with CIPC. Registered businesses also have a lower tax rate than individuals. Also note that you still have to register your business with the South African Revenue Services and are liable to pay TAX if your business income is above a specified threshold.
How much does it cost to register your company in South Africa?
With 1-grid.com you pay a once-off R899 for your business registration. Our easy online registration comes complete with a free domain name and business registration with CIPC with minimal effort. You can register your company at your leisure, whenever and wherever.
What do you get when you register a company?
- Company Name Reservation Confirmation
- Company Registration Certificate
- Notice of Incorporation
- CIPC Processing
- CIPC Filing Administration Fees
- Domain Name Registration
- Income Tax Number
If you've had an idea of a company that you want to start in future but have never actioned that idea, registering your future business will be the push you need to get going. When you commit to start, then you’ll be more inclined to continue and push through.
What are the advantages of registering a company?
Obtaining a business registration certificate in South Africa gives your business legitimacy. Not only does it signify that your business is legitimate, but it also protects your intellectual property. When you register your company with the CIPC, your idea, product and company identity gets protected from theft. One of the CIPC’s function is to protect trademarks, patents, designs and copyright. Operating as an unregistered business makes you vulnerable to theft.
Registering your business also has financial benefits. Financial institutions only give business loans to registered companies. And if you are going to seek funders or potentially work with governmental institutions, being a registered business is vital. Another advantage of having a registered business is asset protection. Your company finances and your personal finances get treated as separate entities, and if you potentially find yourself in a lawsuit, your personal assets are protected.
How long does it take to register a company?
Registering your business online with 1-grid only takes a few minutes, then the processing of your application with CIPC usually takes less than five working days. All you do is complete the required fields, supply the necessary documentation and proceed to checkout – we’ll do the rest. When your application is processed, we’ll email you your company registration certificate, income tax number, BEE certificate and company name reservation. It’s that simple!
Should I register my business?
If you’re serious about doing business and taking your company to new heights, then yes, you should register your business. CIPC registration gives your business validity, attracts investors and protects your intellectual property. Customers, investors, and financial institutions gravitate towards working with registered businesses, being an unregistered company can hurt your business.
What do you get when you register a company?
Business registration online with 1-grid is easy; all you need to do is:
- Find a company name and domain to reserve
- Sign up or login as a 1-grid customer
- Add company address and financial details
- List 1 or more company directors
- Review your checkout and leave the rest to us
We’ll email you with the necessary documents and details when your application with the CIPC is complete.
Can I register a company with no capital?
Yes, you can. If you have a business idea, the best thing you can do is register the business. Having your company registered with CIPC will give you the motivation you need to get started and keep going.
The internet and social media have made entrepreneurship more accessible; you don’t need a lot of money to bring your vision to life. All you need to start a business is vision and a reliable internet connection. 1-grid is the one-stop-shop for small businesses because we provide you with all the tools you need to start your own business from the ground up. From registering your business domain to building your online store and registering your company with CIPC, we are there for your business every step of the way.
What is needed to register a company in South Africa?
To register a company with the CIPC you will need:
- A certified copy of your ID document (not older than three months)
- Certified ID copies of the director(s)