Question: Do I Need To Register My Small Business In South Africa?

How do I register my small business with SARS?

How to Register your Company for SARS eFilingName of the company.The address and contact number.The SARS tax number.The registration number.The company’s banking details.The year end of the company..

What documents are required to register a company with CIPC?

The following supporting documents are required:Certified identity copy of applicant;Certified copies of the Identity Documents of the Directors and Incorporators; … The name confirmation certificate (COR9. … Power of attorney (if applicable);More items…

What is required to register a company in South Africa?

The documents you will need to complete the registration are:Your name reservation confirmation letter;Your signed COR 15.1A form;A certified copy of your South African ID and/or;Completed Power of Attorney form – should you be acting as a representative or proxy.

Do I need to register an online business South Africa?

Apart from registering a company in South Africa, if you are a sole proprietor, it is worth noting that you do not necessarily have to register your business online with CIPC. By implication, instead of pursuing sole proprietor registration CIPC, you should focus more on registering with SARS.

How much tax does a sole proprietor pay in South Africa?

A sole proprietor is subject to income tax levied at progressive rates ranging from 18% to 40%. Advantages: Simple to establish and operate. Owner is free to make decisions.

Can I start a business without registering it?

You may not legally use your business name without first registering it as one of the many business entities recognized by your state and the IRS. … To avoid the extra time and expense of trying to register your business on your own, use an online business registration firm.

How do I register my small business online in South Africa?

You can register your company online on the Companies and Intellectual Property Commission (CIPC) website.You can also register your company via a bank, including Nedbank and First National Bank.

How much does it cost to register a small business in South Africa?

A company registration may vary between R125 and R475 (R125 for a private company, R475 for a non-profit company registered without members). There are five types of companies that you can register. If you wish to run a franchise business, you would register a private company.

Does a sole proprietor need to register with CIPC?

A sole proprietorship is unique because it’s the only business that doesn’t have to register with a state (with CIPC). All other business types – partnerships, limited liability companies, and corporations – must file a registration form with CIPC before they initiate business.

What is the easiest business to start?

15 Easy Businesses to StartEvent Planning. … Gardening and Landscaping Services. … DJing. … Painting. … Yoga Instruction. Image (c) Hero Images / Getty Images. … Local Tour Guide. Image (c) Zero Creatives / Getty Images. … Tutoring. Tutor helping one of her students. … You Don’t Need Much Money But You Do Need… Couple running small gardening business.More items…

Can I register a company at FNB?

FNB facilitates company registration with CIPC (Companies and Intellectual Property Commission). FNB offers this as a free service to its customers. … FNB only offers company registration (including name reservation) services with CIPC. Please note all other applications will need to be done at CIPC directly.

Do you have to register a sole proprietorship in South Africa?

As we touched on already, you need to formally register as a sole proprietor with SARS to get an income tax number. Sole traders are required by law to register their business with SARS within 60 days of commencing business operations.