2. Requirements for Registration
Four names of your choice are required according to order of
preference
Physical Address for your Business
Certified Identity (ID) document or Passport for all Directors
Contact Numbers for all Directors
Addresses for All Directors
You need to be above 18years of age
After registering your company you are required on an annual
basis to submit annual returns declaring your Income.
If not adhered to upon 3 annual returns outstanding the company
will be deregistered.
3. Different Types of Companies in South Africa
Sole Proprietor
Private Company
Partnership
Personal Liability Company
Close Corporation Cant be registered in
South Africa any more
5. Compliance
Income Tax
All companies upon Registration they get
allocated an Income Tax Number (SARS)
You are required to submit an annual Income Tax
Return (IT14) requires one to have annual
Financial Statement
There are two Provisional Returns to submitted
IRP6
The provisional Taxes are an estimates or
forecasts of what you anticipate for the next
Financial Period
6. Compliance Continued
VAT (Value Added Tax)
It is not a Requirement that all companies Register for Vat
Who Can Register For Vat
It is Mandatory for any Business to register for VAT if the
Income earned in any twelve-month period is likely to
exceed R1 million
Any Business may choose to register voluntarily if the Income
earned, in the past twelve month Exceeded R50 000
Submission can be done on a monthly basis, after every two
Months, after every 6months and some annually depending
on your registration
7. Annual Financial Statements
There is a need for all operational Companies to
draw up their Annual Financial Statements
This will assist your company in so many ways
It will help your review your annual performance
You will use the documents to submit your Annual
Income Tax Return
Submission of your CIPC Return
When making any credit facility application
8. Thank you
Thank you for Listening
If you perhaps have further questions or need to be
assisted in any of the discussed information
Please do contact me Below
We can assist you with all Registration
Contact details: Akhile on 078 870 7543
Email: services.createvo@gmail.com
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