Personal Liability Company (INC) Registration

A Personal Liability Company also known as a ”INC” is another type of company that does not differ much from a (Pty) Ltd. A Personal Liability Company specifically suits a professional such as an Auditor or an Attorney who wants to register a company for his or her practice. The only difference is that the directors are jointly and severally liable for the company’s debts. A Personal Liability Company ends with “Inc.” or “Incorporated”

To register a Personal Liability Company (INC), the following documents and information is required:

• The number of directors the company will have along with their ID copies
• Four proposed names in order of preference.
• The postal and physical address of the company.
• Company contact details (this includes email addresses and Telephone numbers)
• The details of the intended director/s. (this includes addresses, contact numbers and email addresses)

The Personal Liability Company (INC) Registration process is divided into two steps:

Step 1: Name Reservations will be made, which will take between 1 – 2 working days. However, if there is a delay from CIPC due to system errors or work load, the process could take longer.

Step 2: Once the name has been approved, the Company Registration process will take place, which will take between 3 – 5 working days. However, If there is a delay from CIPC due to excessive workload, the process could take longer. All in all, the process could take,1 – 2 weeks.

Once the INC has been registered, you will receive the following documents via email:

• A registration certificate COR 14.3
• A Notice of Incorporation COR 14.1
• Confirmation of the initial directors appointed to the company COR 14.1A
• Memorandum of incorporation (MOI) COR 15.1B
• Share certificate (as required)

Cost for INC Registration: R 1 599.00