08/11/2021
THE DIFFERENT TYPES OF COMPANIES YOU CAN REGISTER IN SOUTH AFRICA
State-owned companies
Are owned by an organ or a division of state. The name is followed by the letters “SOC”;
Private companies
Are incorporated by one or more persons, must have at least one director and may not offer its securities (shares or debentures) to members of the public. Once registered, private companies have “(Proprietary) Limited” or (Pty) Ltd. after their name.
Cooperative
A cooperative, or co-op, is an organization owned and controlled by the people who use the products or services the business produces. Cooperatives differ from other forms of businesses because they operate more for the benefit of members, rather than to earn profits for investors.
Personal liability companies
Are incorporated by one or more persons and must have a minimum of one director. Directors of these companies (whether past or present) are jointly and severally liable for any debts and liabilities incurred by the company. These company types are registered by professionals such as accountants, engineers and lawyers. Once registered, the entity’s name is followed by “Inc.” or “Incorporated”.
Public companies are allowed to offer their shares to the public. Management of these companies is entrusted to a board of directors. Once registered, the company’s name is followed by “Limited” or “Ltd.”.
Non-profit companies
Are incorporated for the benefit of the public. A minimum of three persons are required to incorporate and there are no securities to transfer to the public. Contrary to popular belief, non-profit companies may generate a profit, but these profits may not be distributed to shareholders, not even after the company is closed down
Source: https://www.savisas.com/blog/south-african-company-types/
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