If your annual turnover / sales is below R 10 million, your South African Company is called an Exempt Micro Enterprise (EME). EME’s must use an Official BEE Affidavit to apply at CSD and for Tenders.
If your Company’s annual turnover (sales) is above R10 million, you require a SANAS BEE Certificate and BEE Consultation – click here for more info.
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Perhaps you’ve heard the latest South African legislation refer to both BEE Certificates and BEE Affidavits?
If so, here’s everything you need to know about BEE Documentation.
If that’s you, we’ll assist you in getting a BEE Affidavit, for free.
To explain, here’s a guide to help you clarify that.
According to some changes in the South African legislation, any company who earn less than R10 million in annual turnover (sales) needs to complete an Official Affidavit. Once your sales are R10 million or more per year, you have to do a BEE Verification and get a Certificate.
Did you know that if your business’s turnover / sales is less than R10 million a year, you’re called an Exempt Micro Enterprise (EME) in terms of BEE? Therefore, EMEs are only required to provide a Affidavit which serves as a BEE Certificate.
That means, before you earn R10 million per year, your sworn Affidavit serves as your official BEE Certificate in South Africa. Once your sales exceed R10 million or more per year, it no longer defaults as your certificate. Having an annual turnover of R10 million or more, means you have to get a BEE Certificate here. A Certificate, compared to an Affidavit, is a different, lengthier process that we can also assist you with – Call us Toll Free on 0800 007 269 (free to dial from Cellphones and Landlines).
A BEE Affidavit is a declaration that states what the measure of black ownership in your company is. It’s officiated by the signature of a Commissioner of Oath or by the CIPC. That means, besides filling out an Affidavit with the relevant information, you need to have that letter stamped by an official Commissioner of Oath.
For certain tenders and contracts in SA you need a Company with at least 10% Black Ownership. In most cases, you need a BEE Level 1 or 2 Company structured correctly. The easiest way to go about this is to setup a Trust according to your BEE needs; and then make the Trust the Shareholder of a Company, instead of individuals. This is called a BEE Trust.
If your Company’s annual turnover (sales) is below R10 million, your South African Company is called an Exempt Micro Enterprise (EME). EME’s may NOT submit a BEE Certificate for Tenders and CSD Registration, but only use an Official BEE Affidavit. This is due to changes in the BEE Law.
You can get a professional, system generated BEE Affidavit from Company Partners free of charge. Our system will create a professional and Official Affidavit for your Company! So, you only need to get the document stamped, dated and signed by a Commissioner of Oaths. It will be valid for 1 year from the Commissioner of Oath’s stamp date. Therefore, you can use it for all your tenders and contracts. Just complete the sign-up form here to get your free professional BEE Affidavit.
However, if your Company’s annual turnover (sales) is above R10 million, you require a BEE Certificate and BEE Consultation – click here for more info