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South African Business Directory / Listing

PROFIT COMPANIES
PRIVATE COMPANY (popular)

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Incorporated by 1 or more persons for financial gain for the shareholders.
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Must have a minimum of 1 directors.
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This is a business structure for entrepreneurs to run their business with no limit on the number of directors.
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Private companies are not allowed to offer securities to the public and is also restricted from transferring its shares.
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Registered private companies are granted Proprietary Limited or "(Pty) Ltd” status.
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No annual audits required if all requirements are met (e.g. all directors are also the only shareholders of the company).

 PERSONAL LIABILITY COMPANY

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Incorporated by 1 or more persons for financial gain for the shareholders (owners).
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Must have a minimum of 1 directors.
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As a professional, you can  register a company that you want to be personally liable for.
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The Personal Liability Company and its directors, past and present, are jointly liable for any debts and liabilities incurred.
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This type of company is registered by professionals such as Doctors, Lawyers, Engineers, Accountants, etc.
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Registered personal liability companies are granted Incorporated (Inc) status.
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The company name ends with “Incorporated” or “Inc”.
CATEGORIES OF COMPANIES - PROFIT AND NON PROFIT
NON PROFIT COMPANIES
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Incorporated by at least 3 persons for public benefit, social activities, communal or group Interest, etc.
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Must have a minimum of 3 directors.
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The primary objective is to be a benefit to the public and not to make profit.
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Income/property may not be distributed to the incorporators, members, directors or officers.
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Only reasonable compensation for services rendered by them may be be taken.
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The name of a non-profit company will end with “NPC”.
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