|A Company Registration system used by three of the four major banks in South Africa.||
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Choosing who is going to be in partnership with you is probably one of the biggest decisions that any business owner needs to make during the process of company registration. A Director managers the business and a shareholder owns it. You will probably be both a director and a shareholder. However if you are in partnership then you may have more directors and shareholders.
You will need all their information such as Residential, Business and Postal addresses and cell phone numbers, as well as a good digital copy of their ID's on your computer. This you can do later, but without them we can not complete your company registration.
You will need a printer attached to your computer. This is often overlooked, however you will have to sign a document (called a power of attorney) that gives us the right to register your company on your behalf. This will need to be printed and faxed to us.
Although our competition boasts times that we believe are designed to mislead their clients, we know that a company registration usually takes about three weeks. We statistically analyze the speed of company registration and can usually predict the date of the arrival to a few days for your convenience. Although shelf companies are available they are not economical due to cost and time and therefore not advised.
|Why Use Swiftreg for Company Registration?||Why Register my company?|
When you run a business, you are taking a risk. You will probably be loaning money from a bank or another institution to get you started. No-one lends money without expecting to get it back with interest. Now if your business fails and you can not pay the money back its very likely that the money lender will try to find ways of getting their money back. How he does this may vary depending on what you signed and what you promised to do.
Now if you are not registered as a company, you would have loaned the money in your own name, and are subsequently more responsible for the debt. The lender then could try to get the court to force you to sell your house and other assets to pay back the debt. You will have no protection under the company act as you did not register a company.
Now if you registered a company, and you loaned it in the name of your PTY, then there is more protection. The directors or shareholder could still be held responsible for the debt, however, but it does mean that the law sees the PTY as a legal entity, so their case is against a company, not against you. The fact that you registered your company could be a life saver.
No-one likes paying tax. If you are not registered you will have to pay personal tax on all your profits. Personal tax has brackets, which basically means the more you earn the more you pay. If you are successful then your business will very quickly start to pay over 30% of its profits to tax. However if you are registered as a PTY then you will be able to choose how to distribute the profits. You have a lot of options available to you, all of which will help you save money. Your accounting officer or tax consultant will be able to give you advice on how to save money.
There is no doubt about the fact, that a registered company looks like a proper company. Impression counts in business. You give a good impression, then you will probably get the job. A registration number also gives people an indication of how long you have been in business as the year of starting your company is found in the first four digits.
A lot of business can be gained through tendering for it. But you can not tender unless you are a registered business.
If you need to raise money to start your business then you can increase your shareholders. They could pay to own a start up share. SwiftReg automatically assigns 1200 shares which can easily be divisible by your shareholders.
|More information on Tendering?||Tax Saving ?|