To deregister a company with the Companies and Intellectual Property Commission (CIPC) in South Africa, you need to follow a specific process. Here are the general steps to deregister a company:
- Prepare the necessary documentation: Gather all the required documents for deregistration, including the following:
a. An original, signed copy of Form CoR40.1, which is the Application for Deregistration of a Company. b. A copy of the company’s final audited financial statements. c. If the company has any assets, a letter from the South African Revenue Service (SARS) confirming that all taxes have been paid or that the company has been exempted from tax liabilities. d. A letter from any regulatory authority (if applicable) confirming that the company has no outstanding obligations or liabilities. e. Proof that the company has no outstanding debts or liabilities to any creditors.
- Submit the application: Prepare a complete set of the required documents and submit them to the CIPC. You can submit the application either online through the CIPC eServices portal or in person at one of the CIPC offices. Ensure that all documents are properly completed and signed.
- Pay the deregistration fee: You will need to pay the prescribed fee for the deregistration application. The fee can be paid online or at the CIPC office. The current fee can be obtained from the CIPC website or by contacting their customer service.
- Await CIPC processing: Once the application is submitted, the CIPC will review the documents and process the deregistration request. This may take some time, so be patient during the review process.
- Publication and waiting period: If the CIPC accepts the application, they will publish a notice of the deregistration in the Government Gazette. The company will enter into a 21-day waiting period from the date of publication.
- Objections and finalization: During the 21-day waiting period, interested parties can lodge objections to the deregistration. If no objections are received or any objections are resolved, the company will be deregistered, and the process will be finalized.
It’s important to note that deregistration should only be pursued when a company has ceased to carry on business, has no assets or liabilities, and is no longer needed. If the company has debts or obligations, it’s crucial to address them appropriately before initiating the deregistration process.
It’s recommended to consult with a professional, such as a lawyer or accountant, who can guide you through the specific requirements and implications of deregistering a company in South Africa.