How To Register Your Company With CIPC and Benefits

CIPC is an abbreviation of  Companies and Intellectual Property Commission. The CIPC is a South African agency that took effect in 2008 by the Companies Act, (Act No 71 of 2008). The CIPC is to allow individuals under the jurisdiction of South Africa to make sure they act as an organ of South Africa inside the public administration but equally as an institution that has its bounds outside of public service.

SPONSORED LINKS

What Are The Functions Of The CIPC?

The functions of the Companies and Intellectual Property Commission are many. Amongst them are the following;

  • The CIPC is responsible for registering companies that are cooperatives and also giving them intellectual property rights such as trademarks, patents, designs, and copyrights, also maintenance
  • They also see to the dissemination of information on the businesses they have registered
  • They equally see to the propelling and promotion of topics that gives people insight into the awareness of the company and intellectual property
  • They also make sure to provide counseling on compliance and legislation that is relevant to their businesses
  • The CIPC also sees to it that all relevant legislation is effectively and efficiently enforced
  • The CIPC monitors contraventions of financial report standards and offers to advise the Financial Reporting Standards Council
  • They also see to the licensing of business rescue practitioners
  • Last but not the least, the CIPC researches, reports and advises the  minister on issues that concern itself company and intellectual property

How Does The CIPC Work?

The Companies and Intellectual Property Commission completely works with the directors. However, they issue the number of shares in the final documents. This can be sighted in the MOI section of the paperwork that will be given to you. 

After this happens, communication ceases between the CIPC and the shareholders as the shareholders are the owners of the companies. Without the CIPC’s intervention, companies will not be trading in its right and accepted way and people may not know about it.

How Much Does It Cost To Register Your Company At CIPC?

To register your company at CIPC, the applicant must do the following;

  • The applicant would first have to save a name for himself or herself which comes at a cost of R50 for each one of the applications made
  • After the name you have saved is confirmed, you will then have CoR 9.4 after which you proceed to register
  • The registration of a private company comes at a cost of R125 and if it happens to be a Non-profit company, the cost is R475
  • The money has to be deposited into the account of CIPC which should be visible on your profile before you can go ahead to make a submission
  • If all of the above is not done, the application will not work

What Set Of Documents Are Needed To Register With CIPC?

Before a company or any entity decides to register with the Companies and Intellectual Property Commission, they need to make sure they have the following documents ready and available;

  • The applicant needs to provide proof of residence. This proof of residence should not be more than three months old
  • The applicant also needs to make available three bank statements which of course should be recent and should not be more than three months old
  • Applicants should provide a proof of identification that is a South African ID card or a passport
  • The applicant also  needs to make sure they provide a proof of the director’s identification
  • A Registration document from SARS which must include an Income Tax Number

Other documents may include;

  • A  PSIRA registration if is a Security Industry
  • An NHBRC registration for a Building and Construction Industry
  • A CIDB registration for a Construction Industry
  • NCCA registration for a Cleaning Industry
  • A Health and Safety Plan for any other variety of industries

What  Types Of Companies Can Be Registered On CIPC?

A lot of companies can register with CIPC and these include;

  • PTY Limited Companies
  • Non-profit Companies 
  • Incorporations

Companies that cannot register with CIPC include;

  • NPO and Trust
  • Partnerships and Sole Proprietors

What Are The CIPC Registration Steps To Follow?

  • Applicants first and foremost need to provide a company name, making sure that the name they have chosen has not been taken by another company
  • The applicant then proceeds to all necessary documents depending on the type of company and also all supporting documents
  • Applicants would have to wait for their company certificate to be sent to them. This typically takes to five days for the documentation to be processed. After you receive the CIPC certificate, then the applicant will be privy to Company Name Reservation Certificate, Income Tax Number, BEE Certificate and Company Name Reservation

Is CIPC Online?

The straightforward answer is yes. CIPC is online. To access an account or register with CIPC online, applicants simply;

What is CIPC Certificate?

The CIPC Certificate is legal proof that certifies that a company has been registered with the CIPC concerning the Companies Act 2008 ( Act No 71 of 2008). 

The Certificate can be downloaded or viewed online. To Access your CIPC Certificate, all the applicant needs to do is to go on the CIPC’s official website, login into their profile, and proceed to download.

What is A CIPC Account?

To be able to transact any sort of business with CIPC, then the applicant needs to create an account, which is a virtual account with CIPC. This account when created is what is referred to as CIPC Account.

How To Open A CIPC Account?

To create an account with CIPC, the applicant needs to go through these processes;

  • Go on the CIPC official website
  • Proceed to customer registration to create your unique code and password
  • Fill in all blank spaces with the required information
  • Proceed to register by clicking on submit

How To Pay Into Your CIPC Account?

As you have already created an account, it is easier for you to pay into your CIPC account. To do this, the account owner needs to log into the account with their custom code and unique password. 

Proceed to Customer transaction. When there, you can now proceed to view your statement where you can see how much you ought to owe.

How Long Does It Take For CIPC Registration To Be Completed?

CIPC has made it completely clear that it takes seven business days on the regular to complete the registration process. This comes after the applicant has received their name and has submitted documents for registration.

How Long Does It Take For Money To Reflect On The CIPC Account?

According to CIPC, it takes between 2-3 days for monies paid to reflect in the CIPC account. Because of this, applicants are advised to make payments to ABSA where it is guaranteed that these payments will be reflected within these stipulated periods.

How To Contact CIPC

To make contact with the CIPC, you can either;

  • By logging in to your profile and using that platform to lodge whatever complaint you have
  • Again, you can go ahead and call their call center on  086 100 2472
  • Or, make a physical visit to their office in Cape Town at DTI or their office in Pretoria

What Are The Benefits of Registering With CIPC

Amongst the many benefits that come with registering with CIPC, here are some of the prominent ones;

  • Registering with CIPC means that the company gets to have an established bank account
  • It makes it easier for companies registered with CIPC to get and access loans
  • CIPC registration certifies the reputation of the company which ensures trust between the company and the customers
  • When a company is registered, it is easier for them to establish a close-knitted relationship with suppliers
  • The hiring of staff comes off effortlessly 
SPONSORED LINKS