What We Offer

1. New Close Corporation

Stage 1: The first stage is the name application. Although we submit the name application electronically, CIPRO may take up to a week to process our request before we receive a reply. The client also runs the risk of not getting the proposed names approved due to a conflict with an already existing name. For this reason it is strongly advised to first do a name search to see if the names are available. This test will save both time and frustration. Remember to use a descriptive word in the name describing the nature of the business EG Orion Shoe Manufacturing CC as it greatly improves the chances of a successful application. Try to supply more than one name at a time, max of 6.

Stage 2: Once the name has been approved, we will automatically notify you as to which name was approved and proceed with stage two of the registration. This is when we would require your Power of Attorney to appoint you as the member of the new CC. This stage also varies considerably in duration, depending on the backlog at the registrar office. Again this may take in excess of two weeks before the result is emailed back to us. On completion we will automatically notify you.

The registration process can be monitored by clicking on document search or by calling the help desk on 0861843384 for telephonic support. (Or if you provide an email address we will email a quick search method)

Please note: All documents completed by SwiftReg are sent to CIPRO who processes them. The processing time varies significantly (3-8 weeks) and SwiftReg has no influence over the speed of this process therefore we are entirely at the mercy of CIPRO regarding all registrations. Please be aware that we have the same access to CIPRO as the general public and in the event of delay we suggest that all your queries should be aimed at CIPRO directly. Please contact the call center at CIPRO (0861 843384).

Delay Bulletin: This bulletin will show you the delay in the processing of documents submitted. SwiftReg's responsibility is to ensure that your application has been received by CIPRO. For this reason all our correspondence is hand couriered on a daily basis to CIPRO.

Pros and Cons of a New Company

Pros	Cons
The name of your choice is registered and you are immediately appointed as the original member of the Company.	It is a time consuming process with respect to obtaining a registration number.
Once completed, opening of bank accounts and VAT registration is simplified.

2. Shelf Close Corporation

This means that in a period of fifteen minutes, you are able to walk into our offices and walk out with a registered CC, Pty or Sec 21 company and you can start trading immediately. Therefore, the majority of our clients purchase shelf Close Corporations if they have time constraints or if they are uncertain as to what type of business they intend getting involved with.

All these shelf companies are sold with a statement confirming that the Close Corporation has no assets and liabilities and has never conducted any business.

The client has two options: They can either "Trade As" or change the name of the shelf CC. If the name is changed at a later date, or even if the new members are only appointed later, the registration number remains unchanged. It is very similar to when you get married; your surname can change, but your ID number remains the same.

It should, however, be noted that the name change costs more money and may take up to a month to be completed. For this reason the majority of clients "Trade As" as there are no further costs involved.

Also, the risk of trading as, is that your "Trade as" name cannot appear on shelf registered documents and therefore has no legal protection. Therefore,if an existing company challenges the name as a result of a clash with their name, our client is forced to change the trading name.

It is recommended that if you are wanting to secure brand equity, that you change the name of the shelf-company.

All our shelf companies are registered with the nature of the business as either "General Trading in All Aspects" or "Investment in Movable and Immovable Property". These two types of categories are as a result of tax implications. The majority of shelf companies are however used as "General Trading in All Aspects".

Members: We appoint a member of our staff as the initial member on all the Close Corporations.

When you purchase a shelf-company, the new members must be appointed and the initial member must resign. This amendment is done by completing a CK2 or Amended Founding Statement. This process is merely a formality and the client can start trading immediately.
The CK 2 can take up to 6 weeks to be processed and the result is posted back to the new members.

The registration process can also be monitored by going to document search or by calling the help desk on 0861843384 for telephonic support.

NB:
Any shelf company sold through Swiftreg will be DEREGISTERED AFTER ONE YEAR if the AMENDMENTS have not been processed. This will be done for security to prevent fraud and other problems. We are not able to offer a refund in this eventuality.

Pros and Cons of Shelf Companies

Pros	Cons
As these Shelf Close Corporations are already in existence and have registration numbers, they can immediately be used for business purposes.	Your "trade as" name can clash with another company's name, and you will be forced to change it due to their legal rights.
Pre-registeration makes it useful for the client who is in a rush due to time constraints e.g. Tender Application or Lease Agreements.	Changing the name costs more money and takes more time.
	SARS and certain banks require the CK 2 to be completed before they will register for VAT or open a bank account.

3. New and Shelf Pty's

Pty's work in a similar way to Close Corporation when it comes to registering except

a) Instead of Membership we have Directorship and Shareholding. Your directors direct and manage the company. Your shareholding owns it