CC Registration and Close Corporation Information

Registering a Close Corporation (CC)

When registering a close corporation there are a number of legal requirements and certain paper work needs to be completed and signed.  

One of the documents required is called a Founding Statement.

The registration process is explained below:
  • The Founding Statement of the CC needs to be completed and signed by every member.
  • The Founding Statement needs to contain the following information:
  • Full name of the CC
  • Letters CC added to the end of the businesses name
  • Postal address of the registered office
  • Principal activity of the CC
  • Details of each members contributions to the CC
  • Full names and identity numbers of each member
  • Interest of each member which needs to be expressed in percentage
  • Date on which the financial year ends
  • Name and address of the accounting officer of the CC
  • The Founding Statement is then sent to the Registrar of Close Corporations
  • An accounting officer must be appointed to the CC as he will draw up the financial statements
  • The Registrar of Close Corporations will issue a Certificate of Incorporation and a Registration number when the CC is registered. One copy of the Certificate of Incorporation is kept by the Registrar, another copy is sent to the CC and a third copy is sent to SARS (South African Revenue Services) to register the business for tax purposes.
  • The CC may only commence business after the Certificate of Incorporation has been issued.
When registering a CC you will have to provide your desired name for the CC, it is a good idea to have a few ideas as your first choice might not be available.

Registering a CC is simple and easy with today’s technology and the internet as there are a number of companies that register CCs for customers. The process is done by filling in a few forms either online or manually. The CC Registration Company will then do most of the work required in registering your CC such as registering the name and details of the corporation.

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