Anyone Running a Cash only Business

[Houses4Rent]

Good luck with the banks. They messed up already, they will do it again....

[Basment Dweller]

Seems odd that you are approved of business endorsement by home affairs and can register a company but can't open a bank account?

Odd in which manner? Each organisation has their own rules i guess.

It's odd because there is a dependancy on having a bank account in order for a business to function and get registered with SARS.

[Hazy]

Good luck with the banks. They messed up already, they will do it again....

Kikikiki Thanks

[Hazy]

It's odd because there is a dependancy on having a bank account in order for a business to function and get registered with SARS.

Exactly! But apparently SARS doesn't need acconts anymore for you to get a tax number, am not sure how true that is.

[Basment Dweller]

Exactly! But apparently SARS doesn't need acconts anymore for you to get a tax number, am not sure how true that is.

Oh yes they do. SARS wants access to your moola so they can mainline directly into their coffers if need be!

[PaulG]

This could work. Can i add him on the already registered company that i have or do i need to open another one?

Yes as long as it is registered as a Pty you are free to add him as a director to your existing company.

[Hazy]

Yes as long as it is registered as a Pty you are free to add him as a director to your existing company.

Thanks, i will try this route and notify you all on how it goes.

[Hazy]

Thanks you all for help, i very much appreciate it.