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A private company 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 \u201cperson\u201d includes a juristic entity. This means that a legal entity or a trust may be an incorporator of a new company.\u00a0 Most private companies are owner-managed and tend to have a smaller number of directors.<\/p>\n
All companies must have a\u00a0Memorandum of Incorporation\u00a0(MOI) which sets out the rules agreed to 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<\/a>\u00a0to 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.<\/p>\n A Private Company with a standard MOI may be registered on-line,\u00a0at a self-service terminal<\/a>\u00a0or through collaborating banks.\u00a0\u00a0Click here<\/a>\u00a0to view a guide on how to register a private company at the Self-help Service Terminals.<\/p>\n Click\u00a0<\/span>here<\/a>\u00a0<\/span>for step by step guide for new company registration via E-Services.<\/p>\n Click\u00a0<\/span>here<\/a>\u00a0<\/span>for the CIPC service standards. Service Standard is dependent on payment for the transaction being made.<\/p>\n