In order to open a business there are a number of stages to be completed after the type of business structure has been established.
The first stages involve the Companies and Intellectual Property Commission (CIPC). The CIPC is responsible for the registration of companies, cooperatives and intellectual property rights.
In order to use the services of the CIPC, customer registration is essential. It is free to register. Actions to take concerning the CIPC are outlined below.
Checks on existing company names are carried out through the Companies and Intellectual Property Commission website (go to the CIPC website and click "Additional Services").
In order to register a business name with CIPC, form Application to Reserve a Name (CoR 9.1) must be completed and submitted.
An applicant can submit up to four name alternatives, ID is required and there is a fee if the registration is carried out online.
A business is registered on completion and submission of two forms that must be lodged together:
Each section (A-E) can be downloaded separately and the most appropriate form for the company type must be completed.
There is a fee for submitting the above documents.
A detailed document about the process of registering with the CIPC and the supporting documentation required is available online.
A business account must be opened and if applicable, the applicant must provide proof of three company directors and present the original company documents. Some accounts may require an income tax number. If this is the case, tax registration must be applied for first.
Following company registration with CIPC, the business must be registered with the South African Revenue Service (SARS). This must take place at the SARS office that is local to the business registration address. There are SARS branches all over the country.
All relevant forms can be downloaded online.
An employer must register with the Unemployment Insurance Fund (UIF) at the Department of Labour in addition to registering with SARS.
In addition to UIF, employers must register with the Compensation Fund so that employees are able to claim compensation for accidents or diseases at work.
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