How To Register A Small Business In South Africa

Registration must be done within 60 days after starting operations by completing an it77 form available at your local sars office or from the sars website.

How to register a small business in south africa. A company registration may vary between r125 and r475 r125 for a private company r475 for a non profit company registered without members. The convenience of business registration south africa is that you can do it online or in person at the designated terminals. Register your company you will need to deposit r125 for company registration without a name reservation or r175 for a company registration with a name reservation into the cipc bank account. How to register your business. The registration process will mean that your name is reserved and you are the official entity that can trade under that specific name within south africa.

The law sees a company in the same light as a natural person. You can register online with companies and intellectual property commission cpic. If you wish to run a franchise business you would register a private company. Funding for various types of businesses is available through the industrial development corporation or the department of trade and industry s government investment incentives. Each name reservation application costs r50.

It is important for a business person to register their business correctly. And yes you can do it yourself. A company is a legal person which has capacity and powers to act on its own. There are five types of companies that you can register. The report s findings are based on a survey of 400 small business owners across 22 sectors in south africa and was compiled by www in partnership with xero a cloud based accounting software firm.

For every new business established you are required to register with your local sars office to obtain an income tax reference number. This process is actually quite simple. Register a sole proprietorship. The south africa government services website has information on registering a business in all official languages. You can register a company as a non profit company or profit company with the companies and intellectual property commission cipc.

We always tell you what to realistically expect as we have done so for thousands of clients. Some service providers offer shoddy service with false promises about timing etc. An upfront cost between r125 and r475 is involved depending on the type of business you are registering.