How to Register a Security Company in South Africa

South Africa is a perfect destination for security companies. The country attracts investors from all corners of the earth because of its flexible business regulations as well as an easy labor force. This southern African country also boasts of a very huge economy. Today, it is actually among the top two best economies in southern Africa and the rest of Africa. With a sound transport and infrastructure base, the country enjoys an insurmountable influx of direct investment in all key sectors including security, business and telecommunications.

But, security is often a serious problem in South Africa. The country is among the most notorious countries in as far as crime is concerned. Therefore, it is a perfect destination for a security company. There is a great demand for security in the country. Suppose you wish to register a security company in South Africa, the following guidelines will be of great help to you.

The procedure for registering any company in South Africa is governed by the country’s Company Act of 2008. According to the Act, any individual or group of individuals is at liberty to register a company by filling a complete form of the Memorandum of Incorporation. The individual completing and signing the Memorandum of Incorporation is also supposed to sign and complete the Notice of Incorporation or NI in line with the demands of the authorities.

In case the company is being created by more than one person, each individual is required to complete and append the Memorandum of Incorporation or MOI. The MOI and the NI can be signed in proxy provided proof is present.
During the registration process, you will be required to pay up to 125 Rands. This is the prescribed fee for registering a private security company. There is barely any security company out there which is non-profit. But, you will be required to pay up to 475 Rands in case you are registering a non-profit security company.

Once your registration for a private security company has been successfully approved, you will need to apply for a name. The Act allows applicants to apply for up to four names at a time. In each application process, you will be required to remit a fee of 50 Rands. If your application for certain names is not approved, you will be at liberty to apply for a new name. The new procedure will cost you up to 50 Rands as well. Information on the application for a name or name change is available in section 12 of the Company Act of 2008.

In addition to the procedure above, the registration of companies is also governed by the Private Industry Act of 2001 No 56. According to this Act, the applicant is supposed to accompany one’s application with properly certified fingerprints. The Act also requires the applicant to meet each of the following conditions.

The applicant must:
– Be a citizen of South Africa or has a permanent residence at the time of application
– Be at least 18 years of age at the time or application
– Must have a clearance certificate at the time of application
– Not have a committed a crime or been found guilty in the last 5 years