NPC Registrations – What You Need to Know
An NPC, or non-profit company, is founded for the benefit of the public. These companies can also be formed in the interest of a cultural or social activity (like a pension fund, sports club, or church) where making a profit is not the aim of the entity. These companies usually put in place an MOI (Memorandum of Incorporation), as the property and the income of such organisations are not to be distributed to its members, directors, or anyone else involved in the business.
While some non-profit companies rely on the fees of participants or members, others require grants or donor funding and, if this is the case, the NPC must be registered with the Department of Social Development. All registered non-profit companies can also apply for National Lottery Board funding.
There are some requirements for NPC registrations. The NPC:
- must have three incorporators;
- must have three directors; and
- can be registered with or without members.
Registering an NPC might seem like a simple enough process but, in reality, it can be quite tricky. Various requirements have to be met and they must be proven by way of supporting documents. Often the process can become challenging to those who have no experience. We have been providing professional assistance to many non-profit companies starting up in South Africa. With the help of our experienced accounting officers, your registration can indeed be a quick and painless process. With minimal hassle and delay, we can have your new non-profit company ready to operate in the shortest time possible.
Of course, we do not believe that there is a “one size fits all” package that will work for every new start-up. For this reason, we offer a variety of registration packages for you to choose from. Once you have let us know what type of business you want to start, we will ensure that all of the paperwork and legalities are handled professionally and promptly on your behalf.
At Tax Leaders, we are not just another company that offer quick and easy business registrations. We are a registered and professional accounting, tax, and secretarial company that completes registrations and paperwork for clients with meticulous care. To let us know how we can assist you and to learn more about NPC registrations and what is involved, we welcome you to get in touch with us today. We are available via email and telephone and look forward to assisting you further, at your convenience.