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Thread: Sole Owner, Closed Corporation & Pty (Ltd)

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    Bronze Member JanChris's Avatar
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    Sole Owner, Closed Corporation & Pty (Ltd)

    Can anyone assist in explaining the different types companies and are they still applicable. Is their an "easy, less red tape" way to register these companies? Thanks

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    Gold Member Houses4Rent's Avatar
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    I think you meant sole proprietor. This is not a registered company. You start trading in your own name or make a up a name for that matter. You are the business. Not a good idea in most cases as business and you are not separated.

    All else see www.cipc.co.za which is the only way to register a company and ask goggle and www.SARS.co.za
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    Bronze Member JanChris's Avatar
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    Quote Originally Posted by Houses4Rent View Post
    I think you meant sole proprietor. This is not a registered company. You start trading in your own name or make a up a name for that matter. You are the business. Not a good idea in most cases as business and you are not separated.

    All else see www.cipc.co.za which is the only way to register a company and ask goggle and www.SARS.co.za
    Thanks, will visit the sites

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    Diamond Member Justloadit's Avatar
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    Close Corporations are no longer accepted for registration, and all existing CC,s if I am not mistaken have to change with the next 10 years to a PTY.

    There are 2 types of PTY's, one with less red tape to take over the CCs and the typical large corproation PTY where auditors are required to present books to SARS.
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    Bronze Member Brett Nortje's Avatar
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    Quote Originally Posted by JanChris View Post
    Can anyone assist in explaining the different types companies and are they still applicable. Is their an "easy, less red tape" way to register these companies? Thanks
    You do not need to register them if it is under your name, but you need a business account to keep it from affecting your account if things south. if you were to simply buy the license and name of an existing company that has gone south, well, everything sorted out! why not give that ago?
    !! Going to my destruction !!

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    Bronze Member JanChris's Avatar
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    Thanx for the feedback guys, much appreciated. Don't really want to tangle with SARS. The government hates competition.

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