A Close Corporation (CC) is a simplified and flexible business entity. It is ideally suited to small businesses, and the managerial
and administrative requirements differ from a company, in the sense that they are less formal.
A Close Corporation is required to have an Accounting Officer, but audited financial statements are not required.
Close corporations do not require compulsory meetings, as in the case of companies.
Not all members of CCs have to take an active role in the running of the business.
Close Corporations are governed by the Close Corporations Act 69 of 1984.
Advantages to registering a close corporation (cc):
1 - No annual returns currently required
2 - Audited financial statements not required
3 - All members may take part in management
4 - Meetings not compulsory and can be held on an ad hoc basis
5 - Close Corporations (cc's) may become shareholders in other companies
6 - The legal procedures for registration and administration are kept relatively simple
7 - The proprietor or member is not personally liable for the debts of a CC
8 - A CC is a legal entity
Members of a CC
The members of a CC are the registered owners and are listed as part of the registration process.
Non South Africans may be members of a CC, provided that their membership details are authorised by the Registration Office.
A Close Corporation may have a minimum of one member or a maximum of 10 members.
There are no limitations in respect of the number of employees in a Close Corporation.
If the member of a CC is under 21, the registration document must be signed by a parent or guardian.
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Our services include - Electronic Name
Reservation, Document Preparation, complete CIPRO registration and Tax number..
Why choose us?
We offer a dedicated
service with regards to the registration of Close Corporations in
South Africa, and have registered more than 800+ cc's online so far.
This enables us to provide you with full telephonic and
online support throughout the registration process of your cc.
Most of our correspondence with CIPRO is done
electronically, which allows you to
track your application online at any time.
How does it
work?
Actually, it's all
very simple - And we don't have any "hidden" costs
Click on the "Order" Button above, complete the form
and submit it.
Payment may be made by credit card, EFT (Electronic Fund
Transfer),
or if you wish -- by direct bank deposit.
It's as
simple as that...
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