Close Corporation & Company
If you want more information on Close Corporations & Companies as well as register any one of these two, visit the Cipro website at www.cipro.co.za
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Download the Close Corporation Amended Act in our Business Acts section
A close corporation is a corporation which is permitted by law to operate more informally than most corporations (allowing decisions without meetings of the Board of Directors) and has only a limited number of shareholders. Usually a close corporation's shareholders are involved in the actual operation of the business and often are family members.
Generally, a company is a form of business organization. In the legal field, a company is specifically "a corporation -- or, less commonly, an association, partnership, or union -- that carries on a commercial or industrial enterprise."[1] Generally, a company may be a "corporation, partnership, association, joint-stock company, trust, fund, or organized group of persons, whether incorporated or not, and (in an official capacity) any receiver, trustee in bankruptcy, or similar official, or liquidating agent, for any of the foregoing."