Shelf Pty

Need to buy a shelf Pty?

Our pre-registered (shelf) Pty Ltd companies are clean – they have been specifically registered for our clients to take over and use – they obviously have not been traded with before.

Acquiring a shelf Pty allows you to get a name and number for your business within about 1 hour. The final change of directors, etc takes about another 3 weeks to do properly.

For more on Shelf Pty’s, please email us here:

ShelfPty@corp.co.za

Or visit our secure site to read more and order a Shelf Pty from us.

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Resigning as a member of a CC

Resignation Letter

Resigning as a member of a CC might be necessary when you wish to sell your interest (percentage) in the CC to the remaining member/s or to a new owner. It might also be needed if you simply wish to disassociate yourself with the existing business or other member/s.

If you wish to resign merely to get out of the CC, make sure that the remaining members relieve you of suretyships, etc, in writing before you sign the resignation document we would send you. Also make sure your loan account (if any) in the CC is paid back to you or taken over by another member. If the loan is in negative (you owe the CC money) you will need to pay it back or get another member to give you a signed letter stating that he/she takes it over from you.

If you’re selling your interest and resigning from the CC, make sure you get your money (or at least the first major payment) before you sign out. It’s probably a good idea to get your lawyer to draw up an agreement between you and the buyer, but you may come to us for preparing and processing the resignation papers.

For more on this, kindly email us at:

ResigningFromCC@corp.co.za

Conversion of CC to Pty Ltd with a property

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On the subject of conversion of CC to Pty Ltd with a property, the concern of many is what happens to the property and how the conversion affects its ownership and legal standing.

When a CC is converted into a Pty, all of the assets and liabilities of the CC automatically become that of the Pty.

For items like fixed property, although the ownership automatically legally subsists in the Pty after conversion, you will need to supply proof of the conversion to the deeds office and mortgagor so that they can update their register/records with the new company name (if changed) and number. This process should not cost you anything.

Call your estate agent, lawyer or the deeds office to confirm that the above is currently still the procedure, then, if happy with the result, please consider applying through us to do your conversion.

ASSOCIATION AGREEMENT between the Members and a Close Corporation

There are still over 1.5m valid, active CC’s in SA, so it is important to get your ASSOCIATION AGREEMENT in order.

Note
Association Agreements are made between a CC and its members. It is not compulsory for you have a written Association Agreement, but it can be helpful in “keeping things clear” if there is more than one member in a CC.

Disclaimer
This sample Association Agreement is provided as a guide only. It should not be substituted for current legal counsel on this matter. No responsibility shall be taken by eCC, its servants or associates for the misuse or misapplication hereof.

Copyright
This contract is the property of Kaltan Trust (South Africa), who holds the Copyright © 1999-2011. This copyright is effective 50 years after the death of the author. Permission: You may use one copy of the agreement per order.

Click here to order a sample Association Agreement

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