Q: How to deregister a company

Estimated Reading Time: 2min Deregistering a company is a significant step that demands careful attention to detail and adherence to specific protocols. In this guide, we'll walk you through the essential steps to ensure a smooth deregistration process. Whether your company is facing automatic deregistration due to non-compliance or you've decided to voluntarily deregister, understanding the steps involved is crucial. Automatic deregistration: know the triggers: If your company fails to file two or more consecutive annual returns, the Companies and Intellectual Properties Commission <a href="https://support.infodocs.co.za/en/article/what-is-the-cipc-15hhjq8/">(the CIPC)</a> will initiate the deregistration process. After five or more missed annual returns, the company will be moved into "AR Final Deregistration," ceasing to exist as a legal entity. Additionally, anyone can manually refer a company for deregistration, provided it has ceased operations and has no assets or insufficient assets for liquidation, supported by proof. Step-by-step guide for voluntary deregistration: <ul> <li>Step 1: Ensure tax and annual returns compliance: Before proceeding, ensure your company is listed on <a href="https://secure.sarsefiling.co.za/landing">SARS eFiling</a>, allowing you to request essential tax certificates. It's vital to be tax-compliant with SARS and up-to-date with CIPC annual returns, even if your company has been dormant. This safeguards against unnecessary penalties.</li> <li>Step 2: Gath</li> </ul>

Q: What’s the difference between FAS and AFS?

Estimated reading time: 1 minute ||| Confused by the terms FAS and AFS when it comes to company compliance? You're not alone. Many business owners and accountants struggle to understand these key financial reporting terms. In this article, we’ll break down the differences between Financial Accounting Statements (FAS) and Annual Financial Statements (AFS), so you can better navigate your obligations. ** <h3 id="whatarefasandafs">What are FAS and AFS?</h3> <ul> <li><a href="https://support.infodocs.co.za/en/article/what-are-financial-accounting-statements-zcq9m6/">FAS (Financial Accounting Statements)</a>: These are simplified internal financial summaries required by the Companies and Intellectual Property Commission (CIPC) from certain private companies. They are typically submitted through the CIPC’s online portal and used to demonstrate basic financial accountability when full AFS are not required.</li> <li><a href="https://support.infodocs.co.za/en/article/what-are-annual-financial-statements-1b9swjj/">AFS (Annual Financial Statements)</a>: These are formal, comprehensive reports prepared in accordance with recognised accounting standards (e.g. IFRS or IFRS for SMEs). AFS must be compiled, independently reviewed, or audited depending on the company’s structure and size, and are submitted to regulatory bodies like CIPC.</li> </ul> <h3 id="legalrequirements">Legal Requirements</h3> Under the Companies Act, 2008 and Companies Amendment Regulations, 2023, certain companies are required to submit AFS: <ul> <li>Section 30: If the company’s MOI mandates an audit.</li> <li>**Sec</li> </ul>

Question 1

Everything you need to know about beneficial ownership (as of March 2025)

Accepted Answer

| Did you know: You can file your own beneficial ownership in less than 10 minutes using InfoDocs!

Estimated Reading Time: 5 minutes

How to file beneficial ownership?

Simply create a free account, add your company, create a free share register and file beneficial ownership from as little as R249.00 once-off or for free on a subscription account. For more information, read the full how to file beneficial ownership article.

What are the legal requirements?

On 29 December 2022, the South African government published the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 including amendments to the Companies Act 71 of 2008 that came into effect on 1 April 2023.

These amendments included the requirement to keep a register of beneficial owners and to file this information with the CIPC on a regular basis. It also d

Question 2

How to create a share certificate

Accepted Answer

||| Share certificates are one of the most important documents for any company issuing or transferring shares. They serve as official proof of ownership and help maintain a clear record of shareholder equity. This article breaks down the legal requirements, shows you what a compliant share certificate looks like, and walks you through a real example with screenshots.

Estimated Reading Time: 1 minute 30 seconds **

What is a Share Certificate?

** A share certificate is a formal document issued by a company to its shareholders, confirming their ownership of a specific number and class of shares. It serves as legal proof of shareholding and is often required for due diligence, financing, or when transferring shares. ** **

Legal Requirements

** The key legal requirements regarding share registers under the Companies Act, 71 of 2008 include:

Section 24(3)(c): A company must maintain a share register containing the names, addresses, and details of shareholders, along with the number and class of shares held by each shareholder.
Section 33(3): The company must allow proper access to the share register to ensure transparency and allow stakeholders to verify shareholder information.
Section 50(3): Certificates must be signed by two authorised representatives within the company. This can be the directors or director and a manager. Both individuals must be

Question 3

How to deregister a company

Accepted Answer

Estimated Reading Time: 2min

Deregistering a company is a significant step that demands careful attention to detail and adherence to specific protocols. In this guide, we'll walk you through the essential steps to ensure a smooth deregistration process. Whether your company is facing automatic deregistration due to non-compliance or you've decided to voluntarily deregister, understanding the steps involved is crucial.

Automatic deregistration: know the triggers:

If your company fails to file two or more consecutive annual returns, the Companies and Intellectual Properties Commission (the CIPC) will initiate the deregistration process. After five or more missed annual returns, the company will be moved into "AR Final Deregistration," ceasing to exist as a legal entity. Additionally, anyone can manually refer a company for deregistration, provided it has ceased operations and has no assets or insufficient assets for liquidation, supported by proof.

Step-by-step guide for voluntary deregistration:

Question 4

How to create a register of beneficial owners

Accepted Answer

||| Are you unsure who the true owners of your company are, or how to properly record them? You’re not alone. Recent regulations have made it mandatory for companies to maintain a register of their beneficial owners. In this article, we’ll explain what a register of beneficial owners is, why it’s important, and how to create one in just a few simple steps.

Estimated Reading Time: 3 minutes 30 seconds **

What Is Beneficial Ownership?

A beneficial owner is someone who owns or controls 5% or more of a company. This can be directly or indirectly, such as through another company or a trust. They may also benefit from the company’s assets or have significant control over its decisions.

What Is a Register of Beneficial Owners?

After identifying who the beneficial owners are, you need to record them in a register of beneficial owners. This register is simply a document that captures the details of everyone who ultimately owns or controls part of the company.

It’s an important way to show who is really behind the business and is now a legal requirement for most South African companies.

Legal Requirements

In accordance with the Companies Act, 2008 (Act 71 of 2008), as amended by the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 (Act 22 of 2022), and as set out in CIPC Guidance Note 2 of 2023, South African companies (excluding listed entities) are re

Question 5

How to create a share register

Accepted Answer

||| Creating and maintaining an accurate share register is vital for any company. Whether you're managing shareholder details for compliance or tracking ownership, this register is a key document. But how do you properly set one up? This article explains the basics, outlines legal requirements, and shows you how to build a complete share register with real examples and screenshots.

Estimated Reading Time: 1 minute 30 seconds **

What is a Share Register?

A share register is an official record of a company’s shareholders, including their personal details and the number of shares they own. It helps companies track ownership, comply with regulations, and manage shareholder communications effectively. **

Legal Requirements

** The key legal requirements regarding share registers under the Companies Act, 71of 2008 include:

Section 24(3)(c): A company must maintain a share register containing the names, addresses, and details of shareholders, along with the number and class of shares held by each shareholder.
Section 33(3): The company must allow proper access to the share register to ensure transparency and allow stakeholders to verify shareholder information.
Section 50(3): Certificates must be signed by two authorised representatives within the company. This can be the directors or director and a manager. Both individuals must be duly authorised by the company to

Question 6

What’s the difference between FAS and AFS?

Accepted Answer

Estimated reading time: 1 minute

||| Confused by the terms FAS and AFS when it comes to company compliance? You're not alone. Many business owners and accountants struggle to understand these key financial reporting terms. In this article, we’ll break down the differences between Financial Accounting Statements (FAS) and Annual Financial Statements (AFS), so you can better navigate your obligations. **

What are FAS and AFS?

FAS (Financial Accounting Statements): These are simplified internal financial summaries required by the Companies and Intellectual Property Commission (CIPC) from certain private companies. They are typically submitted through the CIPC’s online portal and used to demonstrate basic financial accountability when full AFS are not required.
AFS (Annual Financial Statements): These are formal, comprehensive reports prepared in accordance with recognised accounting standards (e.g. IFRS or IFRS for SMEs). AFS must be compiled, independently reviewed, or audited depending on the company’s structure and size, and are submitted to regulatory bodies like CIPC.

Legal Requirements

Under the Companies Act, 2008 and Companies Amendment Regulations, 2023, certain companies are required to submit AFS:

Section 30: If the company’s MOI mandates an audit.
**Sec

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