It is easy, paperless, and fast to register a business in South Africa.
The business structure determines how you will need to register your business and it is straight forward. As a result, anyone who wants to own a business can register a company in few simple steps.
In this article, I am going to talk about:
- How to register a business in South Africa?
- Who is the South African company registry?
- What you get when you have registered your business?
You should know what a business is by now, but don’t worry if you don’t. Please, go to How to start a Business – Entrepreneurship Guidelines.
Most people do not know how much does it cost to register a business in SA. And with the number of companies with different prices, ranging from R 175 to R 2 500 once-off fee. It is indeed confusing to register a business in SA.
How to register a business in South Africa
All you need is your certified ID/Passport copy, postal/physical address, cell number and email address. And no, paperwork required.
- You need to complete your online business registration in few minutes.
- Pay the required amount using cash deposit, credit card, or EFT
- You will be sent an email for company director(s) to sign and upload/email back the form with the certified ID/Passport copies.
- The certificates will be sent to your email within one day. But only if the SA company registry has fewer applications.
I will give you specific details on how to register a business in a Step-by-Step Guide: New Company Registration on our next article.
Who is the South African company registry
The SA company registry is the Companies and Intellectual Property Commission (CIPC). And it is the government entity that registers and governs the registration of companies in South Africa. The CIPC is under the Department of Trade and Industry (DTI).
The DTI has launched the new business website, the Biz Portal in November 2019. The Biz Portal aims to improve the ease of doing business in SA. This means that entrepreneurs can register a business within a day in South Africa.
The current price for registering a company through the Biz Portal is R 175. And it does not only focus on business registration, but, it also integrates other business services.
The DTI has collaborated with .ZADNA, SARS, DoL & 4 SA Banks
The CIPC has collaborated with the South African Revenue Services (SARS), the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF). The 4 biggest SA banks, Standard Bank, First National Bank (FNB), Absa & Ned bank have also collaborated with CIPC. And the South Africa’s Domain Name Authority (.ZADNA) is the first player to collaborate with the CIPC.
What you get when you have registered your business
- Company registration
- Tax registration number
- Domain name registration
- B-BBEE Certificate/Affidavit
- Compensation Fund Registration
- Unemployment Insurance Fund registration and
- Business Account.
The CIPC is the government entity that registers and governs the registration of companies in South Africa and it is under the DTI.
The new company registration in South Africa is easy, paperless, and fast. And all you need is your certified ID/Passport copy. No, paperwork required.
The DTI has launched the Biz Portal website which aims to improve the ease of doing business in SA. And this means that entrepreneurs can register a business within a day in SA. That is one day turn-around time to register a business in SA).
How much does it cost to register a company
The price for registering a business is R 175 when you register through the Biz Portal website. And this fee is for only business registration where you get :
- CIPC Certificates
- B-BBEE Certificate/Affidavit
- UIF registration
- COIDA Registration and
- A business account with any of the four (4) South African banks such as Standard Bank, FNB, Absa, and Ned Bank.
The user also has the option to register the Domain Name R51 through the Biz Portal website.
To register a business online is easy and can be done by anyone. But if you need help on business registration, please, contact us. Is there anything that you would like to add on this article? Please, feel free to voice your opinion.