Companies Act and choice of entity

Posted on 15. Jun, 2012 by in General News

Under the new companies act Close Corporations (CC’s) are no longer available as an option for new businesses. However, there is a new entity type that is very well suited to the needs of small businesses. The ‘owner managed (Pty) Ltd’ is an excellent choice for small businesses and in most cases the reporting/auditing requirements are far less onerous than for CC’s. It is also possible to convert your exisiting CC to an ‘owner managed (Pty) Ltd. Copia Business Administration would be happy to help you with new registrations or conversions, please contact us if you require more info.

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