- A company created under this section is a new private company, including a name reservation, in terms of the Companies Act, No. 71 of 2008.
- Private companies may not offer shares to the public and must have at least one director and one incorporator. The director and incorporator may be the same person.
- A company can be registered as a non-profit company or profit company with the Companies and Intellectual Property Commission (CIPC).
- A company is recognised, by the law, as a legal / natural person which has capacity and powers to act on its own.
- Profit companies may be incorporated under different types of companies under the Companies Act.
- Every company must have a Memorandum of Incorporation (“MOI”), which sets out the rules agreed between shareholders in regard to the management and administration of the company.
