A private company is the most common and simplest form of company to be registered. It is comparable to a close corporation. Close corporations are no longer registered.

Private Companies may not offer shares to the public and restrictions are also placed on the transferability of their shares. Private companies must have at least one director and one incorporator. The director and incorporator may be the same person. The word “person” includes a juristic entity. This means that a legal entity or a trust may be an incorporator of a new company.  Most private companies are owner managed and tend to have a smaller number of directors.

All companies must have a Memorandum of Incorporation (MOI) which sets out the rules agreed by the shareholders for the management and maintenance of the business. Private companies may be registered with a standard or a customised MOI. The standard MOI is provided by law and is integrated into the company registration process (click here to preview a standard MOI). A customised or non-standard MOI allows shareholders to impose certain conditions or waive certain requirements, such as an audit requirement. Such MOIs must be attached to the applications and may require the assistance of a legally qualified person or someone with company secretarial knowledge. At present, private companies with customised MOIs can only be registered manually.

A Private Company with a standard MOI may be registered on-line on our website New E-services, BizPortal, at a self-service terminal, CIPC Mobile App or through a collaborating bank, such as FNB, NEDBANK, Absa, Sasfin and Standard Bank.

 

Click here for step by step guide for new company registration via New E-Services.

Click here for the CIPC service standards.  Service Standard is dependent on payment for the transaction being made. 

Click here to log an enquiry (only after the indicated service standard has lapsed).