In his 2020 Budget speech, Minister Mboweni announced the formation of a Biz Portal which would allow one to complete all the necessary registrations for the formation of a business. This facility is now available and is best described as follows:
BizPortal is a platform developed by the Companies and Intellectual Property Commission (CIPC) to offer company registration and related services in a simple seamless digital way which is completely paperless. It was developed in response to the quest of improving the ease of doing business in South Africa, specifically starting a business.
As the CIPC strives to provide innovative and convenient ways of transacting with the CIPC, BizPortal is an additional channel to transact with CIPC. The CIPC BizPortal sees the CIPC collaborating with other government agencies (UIF and Compensation), industry regulators and private sector (Banking institutions).
BizPortal aims to offer a service where you would be able to register a company and on the same platform apply for B-BBEE, UIF, Compensation Fund, domain names, and even initiate the process of opening a business bank account; all this on a one platform.
- Company Registration
- Name Reservation
- Tax Registration
- Domain Name Registration for .co.za
- B-BBEE Certificates for Exempted Micro Enterprises (EME) with Turnover between R0 & R10 000 000.
- Compensation Fund Registration
- Unemployment Insurance Fund (UIF) Registration
- Business Bank Account Opening
If the new system works effectively, this will dramatically cut through the red tape and previous inefficiencies. For further information see https://bizportal.gov.za/default.aspx.
Should you require any further information do not hesitate to contact us for professional advice in this regard.
DISCLAIMER: The material and information contained in this article is for general information purposes only. You should not rely upon the material or information in this article as the basis for making any business, legal or other decisions.