CC to Pty Conversions
Our Company Experts can do CC to PTY Company conversions at CIPC for only R1990.
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CIPC has stopped the registration of all Close Corporations (CC’s) in 2009. Up to 2009 you could register a CC or a Private Company (Pty) Ltd, but under the Companies Act of 2008 these two company formats were ‘merged’ and the Pty Company format have been used by new companies ever since.
Our Premium Service Advantages
Our CC to PTY Conversion Service will:
- Allow your company owners to become shareholders and each will receive a certain amount of shares.
- If your company deals with any international clients, a CC will not be recognised as a Company format most of the time.
CC to Pty Conversion
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COR14.3 Document
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Main Requirements: (1) CK Documents; (2) ID Number / Passport.
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Timeframe: 5-Working Days
Other Pty Company options
Company Registration
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Pty Company Registration
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Main Requirements: (1) ID Number / Passport; (2) Home or Business Address in SA
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Free Optional Services Included: BEE Affidavit, Bank Account, Custom Tender Search and Website
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Timeframe: 24-Hours
2024 Shelf Company
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1-Minute Timeframe
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Requirements: (1) ID / Passport Document; (2) Home or Business Address in SA
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Registered Pty (Ltd) Company with all Documents and Fees Included
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Free Optional Services Included: BEE Affidavit, Bank Account and Website
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Money Back Guarantee
Important note: Stock is limited and there may be delays due to processes at SARS. Speak to a Business Advisors should your require Urgent Shelf Company option or older registration number.
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and Accounting Services (Pty) Ltd
FAQ's & Info on CC to PTY Conversions in South Africa
More FAQ's & Info on CC to PTY Conversions in South Africa
If you have a Close Corporation (CC) in South Africa, you have two choices:
1. Keep it ‘as is’. According to the current law (Companies Act of 2008), CC’s will continue to exist in its current form for the time being. Note that there are new requirements with which you need to stay up to date.
2. Convert your CC to a Private Company (Pty). This is definitely the safest option as the Companies Act correspond 100% with the Pty’s documentation. Also, to gain the Advantages which are included in the latest Company Act for Private Companies, it could be a smart move to convert your current CC to a Private Company. CC to Pty conversions are a common practice.
What are the Main Advantages of conversions from CC to a PTY Company?
1. Share liquidity: Your company owners will now become shareholders and each will receive a certain amount of shares. This allows the company to get new investors / trade with their shares in the company very easily.
2. Imports and Exports: If your company deals with any international clients, a CC will not be recognised as a Company format most of the time. In this case it is best to convert your CC to a Pty soonest.
What will happen if I choose to convert my CC to a Pty?
1. Your company will now have the words ‘Pty (Ltd)‘ at the end of its name instead of ‘CC’.
2. The current members will become the Company Directors. Each Director will have a number of shares in the PTY Company.
3. You will receive Company Documents in accordance with the latest Companies Act of 2008, as per below:
- COR14.3: Company Registration Certificate (used to be CK1 document for CC’s).
- COR14.1 and CoR14.1A: Appointment of Directors forms.
- COR15.1A: The Memorandum of Incorporation (MOI) – CIPC’s recommended short format version. If you want your own Custom MOI or the Long MOI, please specify.
What is the difference between a CC and a PTY?
Both Close Corporations (CC) and Private Companies (Pty) count as a legal entities and have limited liability of members or shareholders. Close Corporations are often the type of company chosen by small business owners. CCs have members – up to a maximum of 10 natural people.
Can a CC be a shareholder in a company?
Does a CC have a Memorandum of Incorporation?
A Close Corporation and Pty (Ltd) Company is a juristic person. That is, it is a legal entity and exists in law independently of its owners, members and directors. The equivalent of a PTY LTD Company Memorandum of Incorporation (“MOI”) is the Close Corporation Founding Statement.
To get a conversion for your CC to a Pty, please complete the application form
