For the past 400 years, a Corporation has been a group of people legally permitted to operate as an individual and having perpetual succession.
A South African Close Corporation (CC) can have a maximum of 10 members. There are no directors in a CC. The members are the owners/investors and the managers.
The members endeavour to make a profit to be paid to themselves as a distribution. The members are not liable for the corporation's debts, only if they trade recklessly. They can also sell their interest in the CC to a third party.
It is common practice to distiguish between members' different roles by using various appellations, such as "Managing Member", "Sales Member", etc. A CC's name is designated thus: Kembul CC not Kembul cc nor Kembul C.C.
Accountkeeper refers you to its associate, eCC, for CC registration services. You can form a new CC from the start or purchase a CC off the shelf. If you would like to learn more about this, you may enter the eCC site on its Orders page by clicking here. |