Company Name Changes Explained (CIPC guidelines)
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4 سال پیش
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If you would like any
If you would like any assistance with changing your company name, please use the following link:
https://www.swiftreg.co.za/Swiftreg/P...
We at SwiftReg look forward to assisting you. We have a dedicated call center 021-595 44 33 (available during business hours) alternative please browser our website on https://www.swiftreg.co.za/index.aspx for more services.
And now for the video script... :)
If you want to change the name of your company, the first step is for you to register the new name. I have a few key guidelines to ensure that CIPC accepts your proposed names. In principle your company name can’t be similar or easily confused with any other existing companies or trademarks as CIPC will reject these proposed company names. The name needs to be made up of letters and the use of any symbols, such as an exclamation mark or @sign will be rejected. Bright Spark! Electrical or Bright Sp@rk Electrical.
To greatly improve your chances of getting your new company name approved I would advise that you be as creative and unique as possible. Additionally, using descriptive words explaining what nature and type of business you are in also increases your chances of approval. For example; Hard Hat Construction and not just words Hard Hat.
If all four your proposed names are rejected, you will need to resubmit a new set of four names and there are extra costs associated with each set of name applications. This will also slow down the process, so it is best do as much research as possible to improve your chances of success.
Once the company name is approved it will be valid for 6 months which is the window period within which the company name change process must be completed. You need to ensure that your company’s annual returns are up to date as CIPC will not allow the company name change to take place until all dues are paid. If you would like to know more about annual returns, I have made a video on this topic.
Even if CIPC approves your name, there may still be an objection for up to a year by another company with a similar name or a Trademark. These disputes are handled by the Companies Tribunal and depending on the outcome you may be forced to change your company name for a second time.
So what about franchises? All franchises have similar names which are associated with each other for example; Nando’s N1 City and Nando’s Cape Town. These name application require a consent letter from the Franchisor for the new proposed name and since these are manual applications they take slightly longer to be approved.
So how does the process work? Once you have an approved new company name, a OTP is sent to all the active directors to approve the name change. This is done as a security precaution to prevent company hijacking which has happened in the past
The completed document will be emailed to you as soon as all the OTP have been captured on the system. Even though the company’s name has change the registration number remains the same which retains the company’s track record and gives the credibility of an established company. Just like if you get married you can change you surname, but your ID number remains the same.
Once your company’s name change is completed, I would recommend that you update the share certificates to reflect the new company name and then contact your bank and SARS to inform them of the name change.
I hope this has been informative and remember WE ARE HERE TO HELP
Please share this video with a friend:
Company Name Changes Explained (CIPC ...
Visit our Website for all types of business registrations:
https://www.swiftreg.co.za
Please help us by subscribing to our channel:
https://www.youtube.com/user/Swiftreg...
Follow us on Facebook:
Facebook: SwiftReg-517735934922309
https://www.swiftreg.co.za/Swiftreg/P...
We at SwiftReg look forward to assisting you. We have a dedicated call center 021-595 44 33 (available during business hours) alternative please browser our website on https://www.swiftreg.co.za/index.aspx for more services.
And now for the video script... :)
If you want to change the name of your company, the first step is for you to register the new name. I have a few key guidelines to ensure that CIPC accepts your proposed names. In principle your company name can’t be similar or easily confused with any other existing companies or trademarks as CIPC will reject these proposed company names. The name needs to be made up of letters and the use of any symbols, such as an exclamation mark or @sign will be rejected. Bright Spark! Electrical or Bright Sp@rk Electrical.
To greatly improve your chances of getting your new company name approved I would advise that you be as creative and unique as possible. Additionally, using descriptive words explaining what nature and type of business you are in also increases your chances of approval. For example; Hard Hat Construction and not just words Hard Hat.
If all four your proposed names are rejected, you will need to resubmit a new set of four names and there are extra costs associated with each set of name applications. This will also slow down the process, so it is best do as much research as possible to improve your chances of success.
Once the company name is approved it will be valid for 6 months which is the window period within which the company name change process must be completed. You need to ensure that your company’s annual returns are up to date as CIPC will not allow the company name change to take place until all dues are paid. If you would like to know more about annual returns, I have made a video on this topic.
Even if CIPC approves your name, there may still be an objection for up to a year by another company with a similar name or a Trademark. These disputes are handled by the Companies Tribunal and depending on the outcome you may be forced to change your company name for a second time.
So what about franchises? All franchises have similar names which are associated with each other for example; Nando’s N1 City and Nando’s Cape Town. These name application require a consent letter from the Franchisor for the new proposed name and since these are manual applications they take slightly longer to be approved.
So how does the process work? Once you have an approved new company name, a OTP is sent to all the active directors to approve the name change. This is done as a security precaution to prevent company hijacking which has happened in the past
The completed document will be emailed to you as soon as all the OTP have been captured on the system. Even though the company’s name has change the registration number remains the same which retains the company’s track record and gives the credibility of an established company. Just like if you get married you can change you surname, but your ID number remains the same.
Once your company’s name change is completed, I would recommend that you update the share certificates to reflect the new company name and then contact your bank and SARS to inform them of the name change.
I hope this has been informative and remember WE ARE HERE TO HELP
Please share this video with a friend:
Company Name Changes Explained (CIPC ...
Visit our Website for all types of business registrations:
https://www.swiftreg.co.za
Please help us by subscribing to our channel:
https://www.youtube.com/user/Swiftreg...
Follow us on Facebook:
Facebook: SwiftReg-517735934922309
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