Was your company de-registered without your knowledge? We can help you! To start off, let me explain why your company was de-registered:
In terms of the Companies Act, annual returns are payable to the Companies Office ("CIPC") annually, on the anniversary of your company's registration.
Annual returns are not the same as income tax returns. An income tax return deals with the income tax liability of your company. An annual return confirms your decision to remain in business for a further year and provides CIPC with your company's updated information.
The annual return payable is determined by your annual turnover as reflected on your latest approved financial statements.
- A company with an annual turnover of under R1-million will pay an annual return of R100*.
- A corporation with an annual turnover of under R50-million will also pay R100*.
*If you do not pay your annual returns on time:
- Penalties will be added if the annual return is not submitted within 30 days of its due date.
- Your company is then reflected as "in de-registration process".
- If you still do not pay: CIPC has a right to assume you are no longer trading and to de-register your company.
- De-registration has the legal effect of ending your company.
- Any immovable property owned by your company is forfeited to the State until you re-register your company. When you decide to re-register your company you must get letters of no-objection from two departments of government.
If you provide CIPC with your contact details you should receive notifications reminding you to pay your annual returns. However, the responsibility is on you, as director, to know the annual returns are payable and to pay them. For more information on payment of annual returns see the section below "need help paying your annual return".
To get your company re-registered you must prove that your company was in business and/or owned property or owed debt at the time of de-registration. Let's look at all the requirements:
REQUIREMENTS
The following supporting information and/or documents are required:
- Certified copy of the identity document of all directors/member
- Company / corporation name and registration number
- Municipal account or any other document with correct description of any immovable property owned by the company / corporation
- Proof that the company or corporation was in business or that it had any property or debt at the time of de-registration
- Your annual turnover in each of the years for which annual returns were not submitted
PROCESS
- You forward the abovementioned information to me
- I draft the necessary affidavits, power of attorney and other documents for signature
- You sign the documents
- We advertise in a local newspaper giving 21 days-notice of the application for re-instatement
- We apply for confirmation from the National Treasury and the Department of Public Works that they have no objection to the re-registration (only applicable if the company / corporation owns immovable property)
- Once confirmation of no objection is received from the two departments we get you to sign the re-instatement documents
- We lodge the application at CIPC for registration
- We advise you of registration and confirm the amount payable towards the outstanding annual returns. *This amount must be paid within 30 days to avoid the corporation / company going back into the de-registration process.
- We pay the outstanding penalties and annual returns on your behalf and send you confirmation of re-registration.
- We have a reminder system for our annual return clients to ensure that their companies / corporations are not de-registered.
The full process takes between 8 weeks to three months, not including any delays caused by information which you send to us later than 24 hours after request and/or unexpected delays from the departments and/or CIPC.
NEED YOUR COMPANY / CORPORATION RE-REGISTERED?
This service includes:
- Restoration of your company / corporation
- Drafting of all documents
- Consultation to take instruction and for signature*
* A consultation to take instructions and one for signature are included. Further consultations are charged for by the hour (or proportionate per part thereof).
** The fee is for the service only. Disbursements are not included. Disbursements are payable on request, as they become due.
NEED HELP PAYING YOUR ANNUAL RETURN?
This service includes:
- Submission and payment of your annual return
- A reminder in the following year that your annual return is due
* The fee is for the service only.
**Consultation and disbursements are not included. Disbursements are payable on request, as they become due.
(Our fees payable in advance.)
Got a Question?
Call or email me for more information.
Cell: 082 567 7496
Email: monicas@yhp.co.za
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