Cliffe Dekker Hofmeyr - Ongoing compliance checklist for private companies

Ongoing compliance checklist for private companies

Registering a new private company, or acquiring an existing one, is usually accompanied by a level of excitement for the new business venture being pursued. To ensure that it develops and operates without a technical glitch, it is useful to consider the ongoing compliance requirements under the Companies Act 71 of 2008 (Companies Act) for private companies, which are set out below.

The Companies and Intellectual Property Commission (CIPC) regulates compliance with the Companies Act, and failure to comply may result in compliance notices being issued, fines being imposed, or the company being de-registered. It is therefore best to keep this checklist handy to avoid any unintended consequences.

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The checklist set out above only provides a cursory glance at the compliance requirements affecting private companies. It is recommended that private companies engage and retain professional advisers to “take care of the paperwork”.

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Ongoing compliance checklist for private companies

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