SwiftReg is one of the largest companies specialising in 'Company Registration' and related services. They register approximately 5% of all companies in South Africa and provide direct back end services to three of the largest banks in South Africa. They are the most advanced online service in the country and are backed up with a call centre operating Monday-Friday during business hours.
They are the same thing. The term BEE is used as a shortening for BBBEE, its just simpler to say. BBBEE stands for Broad Based Black Economic Empowerment.
SwiftReg provides a service for the 'Exempted Micro Enterprises' (EME) which are companies where the turnover is (in most cases) below 10 million. This threshold changes depending on which sector of industry your company operates. Although the current legislation is confusing, owing to the fact of SANAS requirements of EME, and changes in the BEE Act, SwiftReg has placed together a package which should meet everyones needs, namely we provide a BEE Affidavit.
A Black person, is defined as all people who may have been disadvantaged under the apartheid govenment, and includes Black, Coloured, Indian or Chinese demographics. However the individual must have been a citizen before 1994.
Example : A Chinese imigrant who has only received citizenship in 2005 would not be considered 'Black' as defined by the act.
The smaller the number the better the level. In the past we had level 3 and level 4. Level 3 is better the level 4. Level 4 is intended by white owned companies, or companies where more then 50% of their shareholding is white. The mark for level 4 is 100%, and level 3 is 110%
Level 3 was the best option if you are majority Black Owned (see definition of Black above). In a nutshell if you have a level 3 certification, your quote might be 10% more costly then your Level 4 competition and you could still win the tender.
A new series of codes were released in October 2013, listing the new codes of Level 1 and 2 for companies who dont appear in specific sectors. This means that a Black Owned company could get a Level 1, which equates to 135% Bee Rating as an EME.
Generally with SwiftReg, if you are 100% Black owned, you will receive a level 1 certificate. In unique cases, certain departments in South Africa might not yet recognise this level (they are outdated departments as this law is now over two years old) and you might be disqualified. In these cases you are welcome to request a level 3 instead.
Manipulating the system is a legal offense. SwiftReg reserves the right not to certify a company who could be manipulating the system so as to gain greater certification. Copies of ID's are required and they are used as basic testing in this regard.
A BEE Affidavit is a service we offer our clients to lay out information in requirement with the current BEE guidelines. You need the details of your company, names and ID numbers of the share holders