Companies
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The 1973 companies act distinguishes between Companies with Share Capital (Private Companies and Public Companies) and Companies without Share Capital (for example Section 21 Company). The new companies act of 2008 distinguishes between : “Profit Companies” and a “Non-Profit Company”.
Profit Companies : Incorporated by one or more persons for financial gain for the shareholders (owners).
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Private Company (Most companies are private companies)
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Memorandum of incorporation prohibits it from offering its securities to the public and restricts transfers of securities.
There is no limit on number of members.
The name of a Private Company must end with “Proprietary Limited” or “(Pty) Ltd”.
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Personal Liability Company
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Must meet all the criteria of a Private Company.
Memorandum of incorporation must state that it is Personal Liability Company.
Directors and past Directors are jointly and severally liable with company for debts of company.
The name must end with “Incorporated” or “Inc”.
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Public Company
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Current requirement of at least seven members.
Company name must end with “Limited” or “Ltd”.
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State-Owned Enterprise
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Falls within meaning of “State-Owned Enterprise” in the public finance management act or is owned by municipality.
In such case the name must end with “SOE Ltd”.
Non Profit Companies : Incorporated by at least three persons for public benefit or an object relating to one or more
cultural or social activities, or communal or group Interest.
Register a New Company
Complete registration including the company name and incorporation
Complete registration including the company name and incorporation