We can help you to convert a close corporation (CC) to a private company ((Pty) Ltd). Every CC has to do the conversion eventually.

What is the process?

If you are interested,

Enquire Now

We will contact you to find out more about your specific requirements and give you a quote. Please include the name and registration number of the CC.

How long does it take?

About five minutes to complete the questionnaire. About 24 hours for us to quote you a fixed price. About 20 minutes for you to complete the second questionnaire. About five days for us to create the necessary documents. It is not possible to estimate how long it will take CIPC to convert a CC once the documents have been filed with CIPC.

How you benefit

It is no longer possible to register a new close corporation or CC. However, you can carry on trading under a CC that existed before 1 May 2011. But CC’s will slowly become extinct and every CC will (at some point) have to be converted into a private company ‘(Pty) Ltd’. Many people chose a CC and still prefer a CC because a CC gave them the advantages of incorporation, with lower costs and simplier administration. Virtually all the advantages that a CC had, can now also be obtained by having a private company under the new Companies Act. For example:

• the annual return fee is the same regardless of whether you have a CC or company
• small private companies do not need to be audited or produce audited financial statements
• small private companies do not need to convene an annual general meeting (AGM)

Some argue that there are actually more advantages to being a private company rather than a CC.

• Compete with bigger companies in the same market.
• Invite other parties to invest as shareholders in your business.
• Raise more capital to grow your company.
• Enable companies and CCs to be shareholders in your business.
• Benefit by being regulated by a law (the new Companies Act) that is up-to-date with international best practice.
• Administer your company electronically.
• Ensure that the rights, duties and responsibilities of members are clearly set out.
• Avoid disputes between members.

By using our service you can:

• save time by doing it faster,
• save money by getting doing it right.

Who is it for?

It is for members of any CC that is in business.

Do you have lots of CCs to convert?

Are you responsible for converting many CCs? We offer special rates if you plan to do more than 20. To discuss how we can help you, just email us your details and we will contact you.

Do you convert CCs for your clients?

We can help you to explain to your clients why they need to convert their CCs. Secure old or create new streams of revenue for you. Enhance your brand and value proposition in the eyes of your clients. We also offer special rates if you plan to do more than 20. To discuss how we can help you, just email us your details and we will contact you.

Save on Commission fees?

If you convert your CC before 1 May 2014, you do not have to pay fees to CIPC. After that you will. This might not be much for one CC, but if you have many CC, it will add up.

Tags: CC, close corporation, company, conversion, convert, PTY