OLD CC -- START TRADING AGAIN

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  • Deon E
    New Member
    • Aug 2019
    • 4

    #1

    [Question] OLD CC -- START TRADING AGAIN

    I have a cc registered in 2001.
    I stopped trading about 8 to 10 years ago under that cc.

    I have been trading as a sole proprietor for the past 3 years.
    I've grown enough to start considering going to a CC or PTY (LTD).

    I know no new CC can be registered so here is the questions:

    1) Can I "reopen and trade under my old cc?
    2) If yes, what do I need to do to get it opened again?
    3) Or is it better just to start fresh with a PTY (LTD)?
    4) I have a good reputation with the sole prop. name and want to use it as a trading as name, can I do with a PTY(LTD)?
  • Dave A
    Site Caretaker

    • May 2006
    • 22803

    #2
    What is the status of the cc at CIPC and at SARS?

    There may be other statutory return history issues too...
    Participation is voluntary.

    Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services

    Comment

    • Deon E
      New Member
      • Aug 2019
      • 4

      #3
      Status at CIPC is - AR final de-registration.
      Status at SARS is good standing

      Comment

      • Andromeda
        Gold Member

        • Feb 2016
        • 734

        #4
        Hi Deon

        Assuming you can reinstate the CC at CIPRO, just the annual returns will cost in the region of R250 x 8 = R2000, plus a reinstatement fee of R200.00

        Reinstatement is a cumbersome task and you will have to show that the cc really was in business during that period; either bank statements or fixed property ownership or both.

        Registration of a new company takes a couple of days in including a name reservation, and can cost as little as R175.00 with a name reservation

        Comment

        • Deon E
          New Member
          • Aug 2019
          • 4

          #5
          Thank you Andromeda,

          Your advice really helped.

          Comment

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