How to restore a CIPC company which is deregistered
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- เผยแพร่เมื่อ 17 ต.ค. 2024
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And now for the video script... :)
If you are watching this video, I am assuming that your company has been deregistered by CIPC. I don’t need to tell you how frustrating that is, but I would like to explain how we can help to restore your company.
Your company has been deregistered because you have failed to pay your annual returns to CIPC. If you want more information on how to pay your Annual Returns, then please watch my video on this topic.
There can be serious legal implications if your company is deregistered as it no longer exists as a legal entity.
1. The business bank account will be frozen
2. The company will be unable to get a tax clearance certificate from SARS
3. Any property owned by the company cannot be sold as the assets effectively now belong to the government.
4. Even certain actions and decisions taken by the directors will be deemed as void, meaning they are not legally enforceable.
This however will all be legal again once your company has been restored.
However, not all companies can actually be restored. There are in fact, only three instances in which CIPC will restore your company, namely:
1. By an order of the court
2. If the company owns property
3. If the company was active at the time of deregistration
If none of these can be proven, then CIPC will not reinstate your company. In this case we advise you to register a new company from scratch.
Restorations are a time consuming process and can take anything from 6-8 weeks. It can also be an expensive exercise as your company is only fully restored once all the outstanding annual returns and penalties are paid in full.
So, what do you need restore your company?
CIPC requires a number of forms which are pretty straight forward so I’ll just mention those that can be tricky.
Firstly, you will require a multiple Deeds office search to prove whether the company owns any fixed property which we do.
You will also require a letter from the Department of Public Works indicating that they have no objection to the reinstatement of the company.
You will also be required to place an advert in a local newspaper giving 21 day’s notice of the proposed application; again, we will provide the appropriate wording.
And finally, 12 months of bank statements starting 6 months before the deregistration date and 6 months after to prove that the company was active at the time of the deregistration.
All that you need to do is click on the application button and we will email you a user friendly application.
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What if the company has been idle and inactive and has no accounts or assets in its name since registration, would it still take as long to have it reinstated?
If the company is in FINAL deregistration and the company is dormant and has no assets or liabilities our recommendation would be to rather register a new company as it is cheaper and faster. If the company i in deregistration PROCESS and you would like keep the registration number our recommendation is to pay the annual returns. I hope this was helpful.
@@swiftreg how and where can I pay the annual returns? My company is also in the deregistration process.
Thanks! Easy to understand and well explained
Glad it was helpful!
i just discovered that my company was voluntary deregistred, without my knowledge. i have been trading during the time of the process. what can i do?
Hi Charlton, wow that is frustrating. I am afraid you have no choice but to restore your company. I must warn you it is a time-consuming and costly exercise. You can download the application form from our website www.swiftreg.co.za (under the CIPC Tab) Good luck, we will make the restoration as painless as possible for you.
Hi , how do I access my client's profile in order to file outstanding annual returns?
Hi Jorge It is not necessary to gain access to your clients profile as you can settle their outstanding annual returns by using your own profile and then entering their company's registration number under the annual returns section and then continue to complete the process for them.
My mom’s company got deregistered. I need help
Hi MS Mhlongo, How frustrating, my suggestion is to call the office on 021-5954433 and one of the consultants will gladly assist you, alternatively click on the following link to download the manual restoration application form. www.swiftreg.co.za/Swiftreg/Products/Company_restoration.aspx
I hope this helps her.
Can you please updated since its has been changed
Yes, I agee. It is in the pipeline. I am just currently recovering from spinal surgery.
@@swiftregwishing you speed recovery
This is no longer applicable, since February 2024 lots of systems have been changed.
Hi there, yes you are correct. Maybe I should make an updated video.
@@swiftreg hi there swiftreg have you updated, please please help