A company created under this section is a new private company, including a name reservation, in terms of the Companies Act, No. 71 of 2008.
A private company is a legal entity with limited liability and it is registered with the Companies and Intellectual Property Commission (the “CIPC”).
Private Companies may not offer shares to the public and must have at least one director and one incorporator. The director and incorporator may be the same person.
Every company must have a Memorandum of Incorporation (“MOI”), which sets out the rules agreed between shareholders in regard to the management and administration of the company.
Private companies may be registered with a standard MOI or a customised MOI.
- A standard MOI is provided by law and integrated into the online company registration process.
- A customised MOI allows shareholders to impose certain conditions or waive certain requirements.
Please note that private companies with a customised MOI can only be registered manually, which will incur a longer turnaround time for registration of the company.
Note: A customised MOI is not available via our online option.