The goal is to make it possible for members of the public to establish a basic private company quickly.
The Companies and Intellectual Property Commission (CIPC) has announced that it is providing quick methods to incorporate a private company, using the freely available short form Memorandum of Incorporation. The ultimate goal is to make it possible for members of the public to establish a basic private company in a matter of minutes, without having to make use of specialist advisors.
Whilst the timing remains unclear, it will be possible for members of the public to make use of a CIPC self-help terminal to establish a private company, as well as to maintain up to date company and close corporation information.
According to CIPC’s website, CIPC has a self service centre and drop-off box in the Sunnypark shopping centre in Pretoria. CIPC has also partnered with First National Bank and a link to FNB’s offering of a basic private company and bank account exists on CIPC’s website.
We can expect more initiatives of this nature.