The time it takes to incorporate in South Africa is approximately 2-3 weeks with a number of formalities and procedures to endure if registering a new company. Ready made companies in South Africa are authorised to commence business activities immediately after purchase.
Purchasing a ready made company is a good alternative to registering a new company in South Africa regarding speed and simplicity. As shelf companies have been registered for a number of years it also has a company history, aiding the reputation of your new company right from the moment you take control.
Alongside simplicity and speed to incorporate, purchasing a ready made company offers advantages regarding the company's profile and reputation. All companies have had no business activity since registration, but have been maintained up to accounting and reporting standards. This includes producing annual returns, financial statements, auditors reports and company registers.
The maintaining of company accounts and reports gives the company a stable and positive history, offering the following benefits:
Company names have been created with neutral names, such as Investments and Exports, to allow them to be suitable for any business activities. It is possible to change the company name on the same day of purchase if required, but the new name must meet the rules governing company names in South Africa. Many other aspects of the company may also be changed if required - Articles of Association, registered address, company auditor and business objects. This all enables a company to be bought and then crafted to match your exact specifications.
On purchasing a ready made company in South Africa, the ownership of the company needs to be transferred from us to the new shareholder(s). This is done through the standard share transfer procedure and contracts in South Africa. Once ownership has been transferred, new share certificates are issued confirming the company ownership.
Shareholders can either be corporations or individuals and may be of any nationality.
The final stage to finalising your company is appointing new directors. As the incorporation agents we currently hold this position, but upon purchase we issue a directorship resignation and the new directors of your choice are appointed via completing and signing the relevant documents. We are able to complete this process for you if granted Power of Attorney.
Directors may be of any nationality and may be a corporate body or individual, with the details of directors being kept at the Public Registry and available for public inspection.
The new directors will receive all official company documentation including Certificate of Incorporation, Memorandum and Articles of Association and secretarial forms.