Types of Company in South Africa - That You Can Start Easily
You can also choose to manage and register a business in
South Africa. The law on companies 71 of 2008, amended by law 3 of 2011,
governs the establishment of companies in South Africa. The most basic
categorization is the profit-making division and non-profit companies.
Non-profit companies
Non-profit companies are involved for the benefit of the
public. At least three people are invited to create titles and not to
broadcast them to the public. Contrary to popular belief, non-profit
companies can make profits, but they cannot be passed on.
Private enterprise
Private companies include one or more persons. After
registration, private companies follow their name « (Pty)
Ltd ». A private company may not submit the portability of the shares
and the number of shareholders to 50. A private company may not submit
financial statements in the business register (CIPC).
Personal liability
Personal liability company’s registration in South Africa consists of one
or more managing partners; The directors of these companies (current or
current) share responsibility for all obligations and obligations of the
Company. These activities are registered by professionals, accountants,
engineers, and lawyers. After registration follows the company name
« Inc. » Gold « Incorporated ».
The Old Companies Act (1973) refers to these types of
companies in Section 53 (b) companies.
Public companies
Public companies have the right to offer their shares to the
public. The management of these companies is transferred to the Management
Board. After registration follows the name « Limited » or
« Ltd. ». Whereas the minimum number of members is required, the
maximum number of members or the transferability of a public company is not
limited. JSE Limited can only register public companies.
Close company
This concept was introduced in 1985 and was intended to
provide an entrepreneur or a small group of up to 10 entrepreneurs with a
simpler and cheaper business unit. A closed-end company is not subject to
the same legal requirements as the company and is separate from its members
with limited liability.
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