Overview:
We understand that you are ready to embark on your new business venture but have no idea where to start with the formal company structure. Who will own the shares? Who will run the company? Who will be employed by the company? What will the rights and duties of each role player be? Who will have the biggest say with regard to company decisions? We’ll help you answer all these questions, ensure your compliance with the Companies Act, and walk you through the start-up process from start to finish.
We mostly advise our clients to consider housing their start-up businesses in private companies for the following main reasons:
- A private company exists as a separate legal persona and the director(s) is/are therefore not liable for the debts and claims against the business (unlike a sole proprietorship, where the owner will be liable for the debts and claims in his/her personal capacity)
- A private company enjoys perpetual succession (if a sole proprietor dies or becomes insolvent, or otherwise legally incapable, this usually means the end of the business).
- CCs are no longer registrable and are being phased out. Private companies now offer many of the same benefits (and sometimes more) as close corporations. There are now small (old CCs and private companies) and large companies
| START-UP PACKAGES | SERVICE | PRICE |
| Ultimate Start-Up | Consultation* | Free |
| Name Reservation | R100 | |
| New Private Company Registration** | R600 | |
| Director Appointment(s) | R100 | |
| Unique Memorandum of Incorporation or Shareholders’ Agreement (regulating shareholder relations and formalising the terms that will govern the relationship between the company, director(s) and shareholder(s))*** | R2100 | |
| Creation of Company Register and Minute Book (includes Securities Register, Register of Directors, Auditors and Company Secretaries) and Maintenance**** for a period of 1 year | R4000 | |
| Employment Agreement (Unique or Template Style for Roll-out)*** | R1700 | |
| TOTAL | R8600 | |
| Premium
|
Consultation* | Free |
| Name Reservation | R100 | |
| New Private Company Registration** | R650 | |
| Director Appointment(s) | R100 | |
| Unique Memorandum of Incorporation or Shareholders’ Agreement (regulating shareholder relations and formalising the terms that will govern the relationship between the company, director(s) and shareholder(s))*** | R2200 | |
| Loan, Licensing or other related/similar content-specific Agreement*** | R3000 | |
| Employment Agreement (Unique or Template Style for Roll-out)*** | R1800 | |
| TOTAL | R7850 | |
| Professional
|
Consultation* | Free |
| Name Reservation | R100 | |
| New Private Company Registration** | R700 | |
| Director Appointments | R100 | |
| Unique Memorandum of Incorporation or Shareholders’ Agreement (regulating shareholder relations and formalising the terms that will govern the relationship between the company, director(s) and shareholder(s))*** | R2400 | |
| Employment Agreement (Unique or Template Style for Roll-out)*** | R2000 | |
| TOTAL | R5300 | |
| Basic
|
Consultation* | Free |
| Name Reservation | R100 | |
| New Private Company Registration** | R720 | |
| Director Appointments | R100 | |
| Unique Memorandum of Incorporation or Shareholders’ Agreement (regulating shareholder relations and formalising the terms that will govern the relationship between the company, director(s) and shareholder(s))*** | R2500 | |
| TOTAL | R3420 | |
| A Starter | Consultation* | Free |
| Shelf Company – Urgent Private Company Registration*** | R1550 | |
| TOTAL | 1550 | |
| B Starter
|
Consultation* | Free |
| Name Reservation | R100 | |
| New Private Company Registration** | R750 | |
| Director Appointments | R100 | |
| TOTAL | R950 | |
* Consultations are aimed at giving you a thorough understanding of a private company, director duties and responsibilities and good governance
** Includes a first share issue
*** All agreements include 2 drafts (with changes) and an execution version
**** Includes attendance to all Notices, Minutes, Resolutions, Compliance, Distribution Company (CIPC) amendments, Company authorizations, Declarations and Disclosures, Statutory record establishment, Statutory record maintenance (excluding prescribed fees and penalties (if any))
***** Add an extra R150 for a name change or a director change and R250 for both