Non-Profit Company Registrations in South Africa – What You Need to Know
There are certain steps to follow when registering a company as a legal entity in South Africa. Much the same, certain steps must be followed with non-profit company registrations as well. If your company is a non-profit organisation (NPO) and not part of Government, you will need to apply for registration with a local social development office. Non-profit organisations can be trusts, companies, or various other entities set up to serve a public or community purpose, and not for making a profit or earning an income.
It is important to register your non-profit organisation if you want the entity to be taken seriously. A registered NPO has better credibility, which opens up more avenues for funding. Once you are registered, you will be able to open a bank account in the company name and will also be entitled to certain tax benefits and/or incentives. To register your your NPO, it must be a non-governmental organisation (NGO) a community-based organisation (CBO), or a faith-based organisation (FBO).
The application to register a non-profit organisation is submitted to the local social development office, along with supporting documentation. Your qualified and experienced accountant can prepare these documents on your behalf and handle the actual application submission. This will save time and confusion and ensure that your application goes through the correct channels. The entire process can take around two months and if your application is accepted, the organisation will be supplied with an acknowledgement letter and a registration certificate. The application must meet the requirements of the Non-Profit Organisations Act of 1997.
We can assist you with your application for the registration of your non-profit organisation. Once the company is registered, we can help you with the preparation and submission of your organisation’s annual report, the first of which is due nine months after the financial year-end. These reports typically consist of a narrative report and a financial report, which need to be meticulously prepared and provided in detail.
At Tax Leaders, we are dedicated to treating our clients’ tax and accounting affairs as if they are our own. Our philosophy is that, by helping your organisation succeed, we will be growing our own business. Whether you are starting a non-profit organisation or a business for profit, we can assist with all your registration, accounting and tax related affairs. With our professional team on your side, you will avoid the red tape, confusion, and wasted time often associated with getting start-ups off the ground. For more NPO registration information and advice, contact us via email or telephone today.