COMPANY REGISTRATION LAWYERS IN SOUTH AFRICA
Your Preferred Legal Partner In The Registration Of Legal Entities In South Africa
WHAT DOES COMPANY REGISTRATION ENTAIL IN SOUTH AFRICAN LAW?
Well-prepared legal documents form the basis of running a successful Organisation, Company, Trust, Non-Profit Organisation or Co-operative, including the establishment thereof. PM Attorneys’ company registration specialists advise clients on all issues and/or best practices for registering legal entities and advising on critical aspects involved in the area of commercial and corporate law in South Africa. We also advise and recommend choosing the organisational and legal form of the company being formed and preparing all necessary documents for the company registration.
PM Attorneys have vast experience and assist in supporting the activities of organisations, companies and associations from various business fields, large and small entities. We urge clients to consult with our company registration experts before embarking on registration to ensure that the company structure fits the desired registered company format.
LEGAL ENTITIES/COMPANIES THAT CAN BE REGISTERED IN SOUTH AFRICA
Our commercial team assists in all five types of company registrations in South Africa, namely, private companies, public companies, non-profit companies, personal liability companies, and state-owned companies.
Private Companies
Private companies are separate legal entities and, as such, are taxed in their own right and offer the shareholders protection against liabilities.
The new Companies Act prohibits a Private Company (Pty Ltd) from offering securities to the public. The Act makes it easy for foreigners to set up a business in South Africa. This business structure does not prohibit foreign shareholding and only requires one shareholder and one director. The new Companies Act prohibits a Private Company (Pty Ltd) from offering securities to the public. A Pty Ltd will require reservation of a company name, the completion of a memorandum of incorporation, and written consent of the auditors to act for the company.
Personal Liabilities Company
A personal liabilities company is a private company used by associations such as lawyers, engineers and accountants. The directors are responsible for the debts of the company. If a company incorporates under section 8(2) of the Companies Act, the terms of its memorandum of incorporation (MOI) state that the directors and past directors are liable for any debts and liabilities of the company contracted during their periods of office.
Public Companies
A public company is set up to offer shares to the general public to raise capital. A minimum of one shareholder and three directors is required for starting a public company. Public companies are known as Ltd companies and have their own legal identity.
Non-profit Companies (NPC)
The primary objective is to benefit the public, not to make a profit. The profit from income and property may not be distributed to the directors, members or officers of a non-profit company except as reasonable compensation for their services.
State-Owned Companies
A state-owned company is either a company defined as a “state-owned enterprise” in the Public Finance Management Act 1 of 1999or a company owned by a municipality. The provisions of a public company apply to state-owned companies.
PM Attorneys boast extensive experience, knowledge and years in practice, making us the preferred legal partner in South African Law. Contact us for professional, expert advice and practical legal resolutions to your company registration matters.
