Private Company Registration (Pty Ltd)

A Private Company (Pty) Limited is treated by South African law as a separate legal entity and has to register as a tax payer in its own right.
A Private Company (Pty) Limited has a separate life from its owners and is required by the The Companies Act, No 71 of 2008 to perform rights and duties of its own.
The owners of a Private Company (Pty) Limited are shareholders.
A company may not have an interest in a close corporation.
Previously the number of shareholders was restricted in a Private Company (Pty) Limited to a maximum number of 50. This restriction was, however, withdrawn in the The Companies Act, No 71 of 2008. The rights and obligations of the shareholders vis-a-vis each other and vis-a-vis the company are set out in a memorandum of incorporation and shareholders agreement.
The name of a private company must end with the words ‘(Proprietary) Limited’ or ‘(Pty) Ltd’.

Important Information

Advantages of a Private Company (Pty) Limited

• Life span is perpetual
• Shareholders have limited liability
• Act only imposes personal liability on directors who are knowingly part of the carrying on of the business in a reckless or fraudulent manner
• Ease of transfer of ownership
• Easier to raise capital
• Efficiency of management
• Adaptable to both small and large businesses
• Not required to file their annual financial statements with the Registrar of Companies, thus, they are not available to the general public

Additional Services

FBRS can now assist our clients in the greater Gauteng area in the process of opening a bank account by sending a Consultant to your office.
Contact us for more information.

Shelf Company Registration

What is a Shelf Company?

A Shelf company is a company that has been registered but has had no activity. A pre-registered shelf company can be sold to a person/persons who wish to start a company without have to go through the process of creating a new company from scratch.

Includes COR 39 Directors Change and COR 29 Registered Address Change 

Important Information

Common reasons for buying a shelf company include:

• To save the time involved in taking the steps to create a new corporation.
• To gain the opportunity to bid on contracts. Some jurisdictions require that a company be in business for a certain length of time to have this ability.
• To show corporate longevity in order to attract consumers or investors.

Close Corporation Changes (CC / BK)

The close corporation (CC) is a more simplified and flexible business than a company. It is ideally suited to small businesses. The managerial and administrative requirements for close corporations are less formal than for companies. No new Close Corporations (CCs) can be registered after the Companies Act of 2008 come into operation on the 1st of May 2011.

Important Information

FBRS can assist with all the admin task, updates and changes required for existing Closed Corporations (CCs).

CCs after 1 May 2011
Listed below are some of the main implications of the Companies Act 2008 that came into effect on 1 May 2011.

• No new close corporations will be registered from the 1st of May 2011. Going forward only companies can be registered.
• No company conversions to close corporations will be registered.
• Provision has also been made for close corporations to convert to companies without any payment in terms of the New Companies Act.
• Any future changes to a close corporation would still have to be made in terms of the Close Corporations Act.

Additional Services

Restoration of Deregistrated Companies / Close Corporations

A Company or Close Corporation may be referred for deregistration in the following circumstances:

• Upon application by the company / close corporation itself;
• If annual returns are outstanding for more than 2 (two) successive years, in which case the company or close corporation will be automatically referred by the system and then notified;
• If the Commission believes that the company or close corporation has been inactive for 7 (seven) years or more.

Once a Company or Close Corporation has been finally deregistered, it may apply for restoration where after all outstanding information (including annual returns) must be lodged.

Tender Company

What is a  Thender Company?

A Tender usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline. The term also refers to the process whereby shareholders submit their shares or securities in response to a takeover offer.IT includes New Company registration, Income Tax Registration, Tax Clearance Certificate & BEE Affidavit

Important Information

Tender documents consist of:

• Tender Number, Closing Date, Site Inspection Date, Validity Period.
• A description of the product(s) and or service(s) required
• Bid Cover Page/form of tender
• Point System Form
• Instructions to Bidders
• Bid Commitment and Declaration of Interest
• Compulsory Site Inspection – Certificate of Attendance
• Specification Cover Page/Scope of Works
• Price Schedule/Bill of Quantities
• Supplier/Vendor Information

Documents Requires to be Submitted /Returnable Documents:

• Form of tender
• Declaration of Interest
• Resolution of board of directors
• Special Resolution of consortia or JV (If Applicable)
• Site Inspection Meeting Certificate
• Preference Points Claim Form & Affidavit
• Medical Certificate for Confirmation of permanent disability status (if Applicable)
• Valid Tax Clearance Certificate (Original-SARS)

Shelf Tender Company

What is a Shelf  Tender Company?

A shelf company is a Pty Ltd Company which has already been registered and has the following characteristics:
• It has never traded before
• It has no assets or liabilities
• Its only purpose of registration was to be sold

Normally our clients would buy a shelf company if they have an upcoming tender or contract; for which they need to apply for within a few days.It includes Shelf Company, COR39 changes, COR21 Address change, Income Tax Registration,
– ‘Tax Clearance Certificate & BEE Affidavit & Issue of Share Certificates

Important Information

Requirements:

• You must be older than 18.
• ID Document/Passport.
• South African Business Address.

Advantages of a Shelf Company

• Within 24 hours after buying a Shelf Company you can start trading with it.
• We have 2015 and 2016 Shelf Companies available for your Business to take advantage of immediately.
• Some of our Shelf Company options include a trading name which you can choose yourself.
• You can have a Business Bank Account within 48 hours (Standard Bank)!
• We include a Tax Number from SARS at no additional cost.