In this tutorial, I am going to show you how easy it is to register your company through CIPC company registration. This is probably the cheapest way to register your business yourself in South Africa and will only take you a few hours. This tutorial also includes a video tutorial on how to register your business in South Africa, make sure you watch it also.
What is the CIPC?
The Companies and Intellectual Property Commission (CIPC) is an agency of the Department of Trade and Industry in South Africa. The functions of the CIPC are mainly:
- Registration of Companies, Co-operatives and Intellectual Property Rights (trademarks, patents, designs and copyright) and maintenance thereof
- Disclosure of Information on its business registers
- Promotion of education and awareness of Company and Intellectual Property Law
- Promotion of compliance with relevant legislation
- Efficient and effective enforcement of relevant legislation
- Monitoring compliance with and contraventions of financial reporting standards, and making recommendations thereto to Financial Reporting Standards Council (FRSC)
- Licensing of Business rescue practitioners
- Report, research and advise Minister on matters of national policy relating to the company and intellectual property law
What you need for CIPC company registration:
This is the list of things you need to register your business in South Africa.
- You will need R175 deposit (Total price for registering your business through CIPC)
- Certified copy of your ID documents (Electronic form)
- Four possible names for your business (in order of importance)
- Email address, and phone number
- Physical address details
- You will need to print, sign, and scan documents (make sure you have access to this)
- You will need to deposit money to CIPC either bank direct bank deposit or eft (I recommend direct bank deposit)
Watch the step-by-step video tutorial below on to how to register your business otherwise continue reading, I will write out the process.
Step 1: Register as a customer on the CIPC website
CIPC company registration requires you to first register as a customer first, this will give you access to do transactions on the CIPC platform such as registering a business. Registering on the CIPC website is free and the only thing you need is your ID, email, phone number and physical address. To register now follow this link. (After registration, you will receive an SMS and an email confirmation with your customer code which you will use as a reference when you deposit the money to CIPC)
Step 2: Deposit money to CIPC bank account
Now, after you have registered as a customer on the CIPC website and have received your customer code, you can log in to your CIPC account here. However, you will not be able to transact or register your business before you deposit money to the CIPC bank account. The money you deposit into the CIPC bank account will be used to reserve a name for the business and also to register a new business. If you go to the bank to deposit the money directly it will take a few hours to reflect on your account and if you do an eft transfer it might take a day. When you are ready to deposit, you will find the banking details of CIPC here, make sure you use your customer code as a reference.
Step 3: Register your company on the CIPC website
This is the last step in the CIPC company registration process and it is very simple. All you need to do now is to log in to your customer account on the CIPC website and check if the money you deposited is reflecting on your account (If the money you deposited is not showing, wait for a few hours or if you used eft you will need to wait at least 24 hours). Once you have logged in to your account, look for the “REGISTER A NEW COMPANY” folder, click on it and it will take you to another screen where you will start the process of company registration.
This is a very generic tutorial, for a more in-depth step-by-step process I recommend you watch the video. If you watch the video and still not sure, feel free to ask a question in the comment section below.
All the best with your entrepreneurship journey!