Agencies must register with CIPRO annually
If your estate agency firm is registered as a (Pty) Ltd company or a close corporation, then it has a new legal obligation, according to a press release issued by the Institute of Estate Agents of SA.
Like all other companies and CCs, the Insitute says, it now has to lodge an annual return with CIPRO (the Companies & Intellectual Property Regulatory Office, formerly known as the Registrar of Companies and the Registrar of CCs). This is part of the revised company legislation which was passed some time ago.
The due date for lodging the return depends on the month (irrespective of year) in which your company or CC was originally registered. If it was registered in May, then the return is due by the end of June. If it was registered in June, the return is due by the end of July, and so on.
A fee, ranging from R450 to R4000 depending on company turnover, must be paid when the report is lodged, and if it’s late a R150 fine will be levied. If it's more than six months late, CIPRO can de-register your company or CC.
A sign of the times is that the return and the payment must be submitted electronically, through the CIPRO website. CIPRO will not accept paper documents or cash.
This is something which your company secretary or accountant or accounting officer will probably take care of. For further information the Institute advises visiting the CIPRO website: www.cipro.co.za