Frequently Asked Questions

Do you feel lost or unsure about company secretarial or audit requirements?... Don't stress!!! ACMS has an extensive list of FAQ's to provide guidance and ultimately help you make your decisions with ease of mind.


1. In terms of the new Companies Act, 71 of 2008 what Companies can be registered?


2. What is a Private Company

A private company is a profit company that:


3. What is a Personal Liability Company?

A personal liability company is:


4. What is a Public Company?

A public company:


5. What is a State-Owned Company?

A state-owned company:


6. What is an External Company?

An external company:


7. What is a Non-Profit Company?

A non-profit company:


8. How long does it take to register a company?


9. Can a foreigner register a company in South Africa?

Yes, a valid passport or South African ID will need to be provided and have a residential address in South Africa.


10. How do I register a company with ACMS?

  1. Download, complete and submit the registration form below to secretarial@advancedcost.co.za. or Fax to 086-671-6431.
  2. Please print and complete the Power of Attorney document attached in the registration form. ACMS needs the ORIGINAL DOCUMENT as permission to sign all registration documents on your behalf. Please post the form to the following address P O Box 1190, Cramerview, 2060, or courier the document to speed up the registration process to 51 A Elgin Road Vandia Grove, Randburg, 2194.
  3. Certified copies of all the directors and shareholders of the company must be emailed to secretarial@advancedcost.co.za or Fax to 086-671-6431.
  4. Pay the once off fee of R595 for a short version MOI (Pty) Ltd and R1500 for a long version MOI (Pty) Ltd, by Internet transfer (EFT) / Bank deposit into the bank account below.
  5. We then reserve your company name on your behalf with CIPC. Once we have received confirmation of the successful name reservation from CIPC we will proceed with the registration process immediately.
  6. Your Company gets registered with CIPC and all the registration douments are sent to you.
  7. New Company Registration form download

11. An accounting officer is a member of one of the following Accounting and Auditing Professions?


12. I don't have an accounting officer or Auditor, what do I do?

ACMS is a member of CIMA, SAICA, ICSA and Leonette Bethell is a CA (SA) and Registered Auditor. We will send you the necessary documents to be completed and we will submit the documents at no extra cost if you appoint one of our accounting officer's or Registered Auditor.


13. Can I register a CC?

No, as from 1 May 2011 you may no longer register CC’s according to the new Companies Act, 71 of 2008.


14. What companies have to have audits?

The new Companies Act allows for Private, Non-Profit and Incorporated Companies to not have to have an audit performed, unless required by the Public Interest Score (PIS) calculation over 350 points. Public Companies and State-Owned Companies have to have audits. The PIS is calculated as follows:


15. How do I know if my Memorandum Of Incorporation (MOI) states that I need an audit?

In the old Companies Act, 61 of 1973 all companies were required to appoint an auditor as per Section 270 in Chapter 10. Therefore if your old Memorandum and Articles of Association state that you elected table A or Table B of the Act you would still be required to have an annual audit of financial statements.


16. How do I know if I need to harmonise my old Memorandum and Articles of Association to the Memorandum of Incorporation of the new Companies Act, 71 of 2008?

If you have the following agreements or provisions in place, it is advised to harmonise your old Memorandum and Articles of Association to the new MOI:


17. How do I amend my old Memorandum and Articles of Association to the new Companies Act, 71 of 2008?

ACMS prepares a quote from the information obtained from the client.

On the approval of the quote the following will take place:

  1. Original copies of the MOI and any shareholder agreements/other agreements are scanned and emailed to ACMS.
  2. ACMS prepares all documents and amended MOI and emails the documents to the client.
  3. A meeting either in person or telephonically will take place to discuss the documents and the provisions chosen during the amendment.
  4. Any amendments that need to take place will be performed and sent back to client to approve.
  5. When the client is happy with the amended MOI, client must sign all documents as sent earlier.
  6. The client will either courier or post the signed documents to ACMS at 51 A Elgin Road Vandia Grove, Randburg, 2194 or P O Box 1190, Cramerview, 2060 respectively.
  7. ACMS will ensure that all the necessary documents have been received and appropriately signed.
  8. ACMS will certify all documents that need to be certified, ie: ID's and resolutions.
  9. ACMS will submit the documents to CIPC and follow up with CIPC.
  10. ACMS will email a bi-monthly update to our clients showing the progress with CIPC.
  11. ACMS will collect processed documents from the CIPC and deliver the final product to the client.

18. What are the requirements for VAT registration and voluntary VAT registration?


19. Can ACMS register VAT for my company?

Yes, John Bethell is a registered tax practitioner for ACMS under practice number PR-230D4F9. If you would like us to register the VAT on behalf of your company, please email us at secretarial@advancedcost.co.za and we will send you all the required forms.


20. How long does it take to register VAT?

The registration process normally takes 21 working days after SARS are happy with the documentation being submitted.


21. When registering for VAT do SARS look at the Directors/Shareholders personal income tax status?

Yes, this is true, all personal affairs of the Directors and Shareholders need to be in order before registration otherwise SARS will not process the VAT registration. If you need help with any tax issues, please email secretarial@advancedcost.co.za and one of our consultants will get back to you with your query shortly.


22. Why use ACMS for all your services?

ACMS is a one stop shop that offers everything you need from company secretarial, accounting, bookkeeping, costing, management accounting, tax to your yearly audit of financial statements. Our consultants are experienced and qualified friendly staff. We have an open door policy with all of our clients where you can phone or email us at any time to discuss any issues you may have no matter how big or small.


23. What are the current turn around times for CIPC?

CIPC has released a turn around time for important changes such as the amendment of the new MoI and change of directors. Read here for the turn around times. Read More


24. Why did the turkey cross the road?

To prove that he is not a chicken....

If in any way we have not answered your question, please do not hesitate to contact us with your queries.

Register a Business | Auditor FAQ | Accounting Services FAQ | VAT Registration FAQ | Management Accounting FAQ

Need help registering a business? Have questions about CIPC, Accounting services, VAT registrations or whether or not you need an Auditor? ACMS has the answers and solutions you need.