Update on reinstatement of companies at CIPC
As you know, CIPC has deregistered thousands of companies for failure to stay compliant in terms of submitting beneficial ownership detail and annual returns. The normal turnaround time to reinstate a company according to CIPC was 10 business days. But due to the increase in requests, the turnaround time is now longer than usual. From experience, the current turnaround time is 15 to 25 days. If you need assistance to reinstate your company, click here. We can assist for only R450.
What to do if CIPC has deregistered your company.
If CIPC has deregistered your company, you have the option to re instate the company. If you do not wish to use the company to trade again, there is need to take further action at CIPC. However, you still need to consider the tax complications. SARS will still hold the tax representative of the company liable for any tax returns or money outstanding on the company. It is therefore very important to finalize the tax and request that SARS deregisters the income tax of the company as well. The tax can haunt you for years and it can cause admin penalties to accumulate. If you need assistance to deregister the…
