The
Non Profit Company Registration
Non Profit Companies.
(NPC)
Non Profit
Companies can also be referred to as Section 10 Companies. Under the old Act nonprofit company
registration where referred to as Section 21 companies. There are two types of
MOI for NPC’s namely:
·
Directors only (minimum of three directors) This is what SwiftReg
offers as it is cheaper at R990
·
Directors and Members used for Golf Estates where the owners will be
the members.
The Act allows for two classes
of members; voting and nonvoting. Usually, the members have equal voting power,
but the MOI does allow for certain members to have greater voting power.
NPC do not have to be audited
unless it holds or manages other people’s (third party) assets in excess of R5m,
then an audit is required (the same applies to (Pty) Ltd’s)
The Non Profit company
registration must state in the MOI (Not the COR forms) what its object is, a
(Pty) ltd does not have to do this.
Register your NPC (Non Profit Company)
Register a normal PTY