Sole Owner, Closed Corporation & Pty (Ltd)

[JanChris]

Can anyone assist in explaining the different types companies and are they still applicable. Is their an "easy, less red tape" way to register these companies? Thanks

[Houses4Rent]

I think you meant sole proprietor. This is not a registered company. You start trading in your own name or make a up a name for that matter. You are the business. Not a good idea in most cases as business and you are not separated.

All else see www.cipc.co.za which is the only way to register a company and ask goggle and www.SARS.co.za

[JanChris]

I think you meant sole proprietor. This is not a registered company. You start trading in your own name or make a up a name for that matter. You are the business. Not a good idea in most cases as business and you are not separated.

All else see www.cipc.co.za which is the only way to register a company and ask goggle and www.SARS.co.za

Thanks, will visit the sites

[Justloadit]

Close Corporations are no longer accepted for registration, and all existing CC,s if I am not mistaken have to change with the next 10 years to a PTY.

There are 2 types of PTY's, one with less red tape to take over the CCs and the typical large corproation PTY where auditors are required to present books to SARS.

[Brett Nortje]

Can anyone assist in explaining the different types companies and are they still applicable. Is their an "easy, less red tape" way to register these companies? Thanks

You do not need to register them if it is under your name, but you need a business account to keep it from affecting your account if things south. if you were to simply buy the license and name of an existing company that has gone south, well, everything sorted out! why not give that ago?

[JanChris]

Thanx for the feedback guys, much appreciated. Don't really want to tangle with SARS. The government hates competition.