Hi, i need help, i have two different questions, may someone please guide me.

[Ikgantsheng]

Hi, i need help, i have two different questions, may someone please guide me.

1. I would like to know if is allowed to have silent partners in the close corporation business. if yes, what the procedure can be? like, is that necessary to also put them in the business CK1, (do they also share the members interest?)

2. I would also like to know that, if the business is registered, as close corporation currently with one member, but not yet running, means there is no production yet. next year February during our financial year, is SARS anticipating us to pay tax? i mean the business is registered with SARS also, so that we can have a letter of good standing, for in case we start at anytime. but not yet started.

Yours Trully
Ikgantsheng.

[BusFact]

1. A silent partner is someone who has invested money in a company but who takes no active role in the daily management. They could be a shareholder (member) or simply lend the company money in the form of a loan. If I were a member of a cc I would want to know whats going on as being a member makes me responsible for what the cc does. If they want to be a shareholder / member they must be on the CK docs, otherwise they can simply have a loan account. The choice is yours/theirs.

2. You only start paying tax once you start making profits. You still need to submit tax returns though showing your nil profits in order to get the certificate. Don't forget you still need your accounts checked by an accountant of sorts and to submit your annual return with CIPRO.

[Ikgantsheng]

I want to personally say thank you for your help, i think you have done enough to enlighten us, we are happy until now, Just to make sure we clearly understands you, If A silent partner is added on the CK docs, will he still takes no active role in the daily management?

Yours Trully
Ikgantsheng.