Want to reserve your company name before you register it with the CIPC? Follow these nine steps...
Last week, we wrote an article on company registration, more specifically reserving a company name before you register it.
We said while it's not a legal requirement, you can reserve your company name before you register it with the Companies and Intellectual Property Commission (CIPC). You'd do this if, for example, you're still finalising paperwork before you register and fear someone else may take the company name you want to use. A process that could delay when your business can start trading as you'll have to come up with a new name all over again.
We've had a lot of questions about company registration since then. And that's why today, we're giving you the actual steps you need to take to reserve your company name.
Find out what they are below.
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Reserve your company name with the CIPC in nine easy steps
Register on the CIPC website (www.cipc.co.za).
After you complete your registration, log in.
Under the navigation menu on your screen, select 'name reservation and proposed name'.
After you click on 'proposed name', you'll see form CoR.9.1. Fill it in.
Most of the fields will prepopulate from the information you gave when you registered with CIPC.
Check it's right and complete the following fields:
Step 5: The system will do a preliminary search of names it has on its system
Name reservation type (Remember to select 'proposed name' from the drop-down menu);
The names you want to reserve (you can select up to four names);
Any similar names (Only answer 'yes' to this question if you're willing to accept any names similar to those you choose if the one you want isn't available).
The system will let you know if there are any such names (or similar) on its system.
Step 6: Decide if you want to stick with your original names or pick new ones
Once you decide, click submit.
Bear in mind that before you do, you have to deposit R50 into your virtual CIPC account. If you don't, the system won't let you carry on with your application.
You'll find the menu for depositing money into your virtual account on the CIPC homepage.
Step 7: The system will process your application
The system will bring up a screen showing your:
Application date; and
Print this out and keep copies.
Step 8: The application will go to the processing team
The CIPC name reservation processing team will process your application and email you to confirm or reject the reservation. This can take anywhere from a few days to a few weeks.
Step 9: Wait for your cor9.4 form
This confirms the CIPC accepts your name reservation. Use this form when you officially register your company name.
There you have it. Nine steps is all it takes to reserve your company name online with the CIPC.
PS: If these steps aren't clear enough, check out the Practical Accountancy Loose Leaf Service.
It gives you screen grabs of where everything goes.
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