Bala takes care of all our corporate clients, which include:

• Private companies – Pty Ltd
• Personal liability companies – Inc
• Non-profit companies - NPC
• Public companies – Ltd
• External companies

Statutory requirements for new registrations and amendments thereto including:

• Change of name
• Reservation of name
• Change of year end
• Change of shareholders
• Change of director(s) or member(s)
• Change of accounting officer or auditor
• Change of entities business- and/or postal address
• Change of director(s) or member(s) percentage share or membership
• Change of director(s) or member(s) residential and/or postal address

All new enterprises that want to trade in South Africa as a company must be registered as a new entity as per Companies Act 71 of 2008. CIPC (previously known as CIPRO) administers the process of all new company registrations and amendments and the timeframe of completion greatly depends on whether this department has a backlog or not.

Companies must comply with the new Companies Act 71 of 2008 and could be unaudited, independent reviewed or fully audited. It is vitally important for companies that form part of the old registration structure (CM documents) to change their memorandum of association to non-auditing or independent review status (if they are not required to be fully audited by the new act) and par-value shares to non-par value shares.

CIPC annual returns

Annual returns must be submitted to CIPC for all registered companies and close corporations, even if they are dormant and not trading, at the end of the month in which the entity was formally registered. In this return, the annual turnover must be furnished as per the last signed annual financial statements, as well as all the registered data verified for said entity. If changes need to be made in connection to the registered data then further CoR documents must be furnished to CIPC to legalise these changes made upon the annual return.

Registered entities could run the risk of de-registration if they do not submit their annual returns timeously, which have a myriad of legal implications upon shareholders, directors and members.

Bala automatically updates and submits these annual returns after our corporate clients have verified the detail upon the CIPC annual return. A CIPC submission document is also supplied to our clients once the return has been successfully submitted.
Close corporation amendments - CK2
Bala takes care of all our corporate clients (close corporation – CC) statutory requirements for any amendments to the CK documents at CIPC (previously known as CIPRO).

Due to the new Companies Act 71 of 2008, no new close corporations can be registered anymore as unaudited companies have replaced the unaudited benefit of CC's in South Africa. The final outcome to CC's as entities is at this point unknown, but these types of entities would continue to exist for the foreseeable future and amendments to their statutory documents will still continue to be processed by CIPC.

At Bala, we do believe that the close corporation structure as an entity would be phased out and replaced by unaudited companies (Pty Ltd). We would therefore suggest that our corporate clients that still operate as close corporations transfer into unaudited entities as soon as possible.