A company is a Commercial business. It can be applied by a number of people investing their capital or assets to make a profit or trying to give back to the community without making profit. There are different types of company such as a Private company, Public company or a Non-profit organization.
A company must be registered with and follow all the important steps.
You can register your company online for R175, R50 is for the name reservation application cost and R125 is for the registration. You can even make a payment online or deposit it at a bank. If you will be registering your company all the details such as Identity numbers and legal names of yourself and the other members who will be part of the company will be required.
You can apply for a company without a name, according to Companies act 2008 when you apply for a company without selecting a name automatically a company registration number is issued. Companies can now be searched with their registration number.
A name can then be applied later. Applying for a company name it is not easy as it must be checked if that name is available and you have to provide a few options (1-4 names) and an available name will be selected for you.
You need to apply for a BBB-EE certificate and also for a business banking account, you will be given options from well known banks to select from.