Company/Close corporation secretarial services – directors, shareholders, etc
The government can attach your company’s / close corporation’s assets. Since 2009 companies and close corporations have been urged to submit their annual returns on time to avoid being deregistered and on past occasions.
We can assist clients in amending directors and shareholders. We also assist in preventing deregistration of Companies / Close Corporations by keeping a record of when documents should be submitted.
Company formations
Types of different Companies, Companies Act 2008 - Various types of companies may be incorporated under the Act, mainly profit earning companies and non-profit companies.
Profit companies may be incorporated under the following types:
- Private Companies
- Public Companies
- Personal Liability Companies
- State Owned Companies
Non-profit Companies (NPC)
A company incorporated for public benefit or other objectives relating to one or more cultural or social activities or communal or group interests; and
The income and property of which are not distributable to its incorporators, members, directors, officers or persons related to any of them.
Private Companies (Pty) Ltd
Private companies under the new Act are prohibited to offer securities to the public and the transferability of their shares are also restricted. Private companies, however, are no longer limited to 50 members as was the case under the previous Companies Act.
Cash flow forecasting
The formation of various different trusts such as:
Inter Vivos Trusts
Inter Vivos is a Latin term that means “given away without receiving" compensation, such as a gift.
The majority of trusts are registered as Inter Vivos trust, this is a trust that is formed during the lifetime of the founder. A trust has the benefit that assets of the trust is secured and cannot be attached by creditors.
Testamentary trust
This trust is normally founded in the will of a person and is founded at the death of that person for the benefit of his/her heirs.
Trading trust
A Trading Trust is a form of unincorporated business organization that holds property and is managed by trustees. Trading Trusts are not often used in South Africa because they usually only work well for certain types of businesses, for example, property development enterprises.
