Company Registrations in Durban, or elsewhere in the country, need to be handled by a professional.
At M. P. Lutge Incorporated our legal team, which is headed up in Durban but which forms part of our complex network of professional and expert attorneys throughout South Africa, has dealt with the registration of numerous companies, and other business entities, over the many decades since our founder began practicing as an Attorney.
Our years of practical experience and accumulated theoretical knowledge of company law show that we know how to register a company through an in depth knowledge of CIPC company registration procedures. Our in depth knowledge of the company registration process coupled with our bank of company registration documents ensure that registering a company is cheap and effective.
What To Know When Registering A Company
The initial issue to be dealt with during your business registration is to choose a name.
When deciding what name to choose for your newly registered company one must keep in mind that:
- Your name of choice may not be available and, as such, you should think of at least four possible names, all different from one another;
- Characters such as @,%, and even ! are not allowed to form part of the businesses name and, therefore, must be avoided;
- Make sure that you spell the name of your company correctly (there are additional costs for name changes and your name may not even be available)
- Make sure your name is not so close to that of a competitor or well known brand as it may give rise to future litigation;
One of the most important decisions a budding businessperson can make, when starting a company dealing with its registration, is deciding who will form part of that company. Whilst most people who are in the process of registering a company will be both Shareholder and Director, it need not be the case. You may choose to own the company only (as a shareholder) and have someone with more experience, or time, direct and manage the business. Whatever your decision, in terms of the Company Registration Process CIPC, the Companies and Intellectual Properties Commission, will require yours, and your fellow directors and shareholders:
- Residential, Business and Postal addresses;
- Cell phone numbers; and
- Digital copies of their Identity Documents.
to complete your company registration.
How To Register A Company
Upon receipt of your mandate, we will forward an electronic copy of a Power of Attorney, which will allow us the authority to begin the registration process for your company on your behalf. As soon as you have signed your copy just email or fax it to us, and the company registration process has begun.
Many company registration companies in the market offer the world but deliver nothing. At M. P. Lutge Incorporated, we know that a company registration will, in the normal course of events, take approximately three weeks. Over our years of dealing in company registrations, we have come to know exactly what time constraints are involved in the process of registering a company and, as a result of same, are able to accurately predict the completion of the company registration process to within a couple days.
At M. P. Lutge Incorporated we are also able provide shelf companies, should you be in urgent need of the protection of limited liability.
What Are The Benefits Of Registering A Company
With business comes risk. One of the commonplace occurrences in the running of companies is the procurement of start-up loans. The problem with start-up loans for a newly formed company is that they are generally provided by banks and other financial institutions who, in the event that your new business fails, will seek the return of their money, with interest, regardless. Herein lies the dilemma, as the inevitable result of your company failing is the inability to repay your loan.
This is why you need to have a company registered because it will act as a shield (or ‘veil’ in legal terms) between yourself and the debt of the company. This is because a company is considered a separate legal entity in terms of South African Law. As it is a separate legal entity, the debts of the company are the debts of the company alone and, unless you have signed as surety for the company or have traded in a grossly negligent manner, you will be protected through the registration of your company. This is also another reason why it is very important to use a firm of attorneys with over thirty years of experience who know how to register a company properly and can ensure that your liability is limited as much as is legally possible. The alternative to the above is to trade in your own name, forego the PTY Ltd protection, and end up having judgment granted against you in court, have your assets (house, TV, couch, etc) attached in execution of that judgment, be brought into court on numerous occasions in terms of Section 65 of the Magistrates Court Act. Registering your company using the correct registration procedures with attorneys who know hot to register a company is in your best interests.
A company registration may also save you a fortune in Tax (which, as we know, is something we are all remiss to pay). One of the tax benefits that comes with a company registration is that instead of paying personal tax, which is bracketed and could be as high as 30 percent of your income, you are able to use a company to distribute profits and thus reduce the tax payable thereon. It goes without saying that, in this respect, you would be best served consulting an accountant or auditor to give you expert advice on the tax benefits of registering a company.
Having your company registered adds a degree of legitimacy to your business when viewed by the consumer. With your company registration, you are able to create the impression of a proper company. As we all know, when marketing your company it is important to have the correct look and when you come to M. P. Lutge Inc., a company that knows how to register a company, we ensure your company is registered quickly and efficiently.
Registering a company can also open moneymaking avenues that are unavailable to a natural person. For example, once your company is registered you will be entitled to apply for certain Municipal tenders that require the tender application to be made by a registered business. This is true for many available tenders, and not only those advertised by government.
Furthermore, a registered company also allows one to raise capital for the business through the issuing and sale of shares to potential shareholders. In this respect, our firm of attorneys are able to make application to CIPC (formerly CIPRO) for the allocation of the number of shares you require.
Company registration need not be a complicated procedure when you use a firm of attorneys who know how to register a company. Whether you are looking for a PTY company registration or a PTY LTD company registration, our experts in the company registration process, documents, and forms will ensure your company registration in South Africa goes off without a hitch. M. P. Lutge Inc, the attorneys for Company Registration.