Registering a Personal Liability Company
A Personal Liability Company is used for professional services, like attorneys, accountants, engineers, and healthcare practices.
The process of registering an Incorporated Company is different to that of registering a regular (Pty) Ltd. The turnaround time is six weeks. A Personal Liability Company is different from a (Pty) Ltd in a number of ways: Where a private company’s name ends with (Proprietary) Limited, a Personal Liability Company’s name ends with the word “Incorporated”, abbreviated as “Inc”. This MUST be specified in the MOI.
Not only is the name structure different, this Company type can not use the Standard MOI (Memorandum of Incorporation). An Incorporated Company have to make use of the Long Standard Form for Profit Companies – the CoR15.1B, or have one drawn up.
If you need to register your Incorporated Company, get in touch below. We will make sure that your company meets all the legal requirements and is registered in the simplest, fastest way possible.
Please note that this Company Type is not for everyone and will not be suitable for most types of businesses.
Cost to register an Incorporated Company: R2400 all inclusive, once-off
Requirements for registration:
– Certified copies of all Directors IDs;
– All Directors need to be older than 18;
– Custom MOI OR CoR15.1B (provided by Business Level)