B-BBEE Certificates and Affidavits Explained
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- Опубліковано 26 сер 2024
- If you would like any assistance with applying for a B-BBEE affidavit (certificate), please use the following link:
www.swiftreg.c...
We at SwiftReg look forward to assisting you. We have a dedicated call center 021-595 44 33 (available during business hours) alternative please browser our website on www.swiftreg.c... for more services.
And now for the video script... :)
In this video I am going to show you how you to get your BEE affidavit instantly, how easy it is and what verification level you can expect.
All types of businesses, including sole proprietors; who do business with government departments and large corporates in South Africa require a BEE Affidavit or BEE Certificate
The difference between a BEE Affidavit and a BEE Certificate is dependent on your turnover. Large companies with annual turnovers of more than R50M need to apply for BEE certificates. This a costly and complex process as it requires audits, site visits and is usually done by large accounting firms.
On the other hand BEE Affidavits are for smaller businesses with turnovers of less than R50m per year and are a walk in the park by comparison.
SwiftReg offers BEE Affidavits for EMEs and QSEs. An EME is an Exempt Micro Enterprise which has a turnover is less than R10m pa. A QSE is Qualified Small Enterprise with an annual turnover of more than R10m but less than R50m. There is one exception to this rule, but I will get back to that.
The next criteria, after turnover, is percentage black ownership. Just to be clear according to the Department of Trade and Industry a black person is defined as every race other than a white person who arrived in South Africa before 1994 and has a valid South African ID document.
There are only 3 levels of BEE which apply to affidavits.
• Level 1 (100% black ownership)
• Level 2 (99% - 51% black ownership)
• Level 4 (50% - 0% black ownership)
That’s correct, there is no level 3
I mentioned earlier that there is one exception to the QSE application, companies with a turnover of more than R10 million and less than R50 million, and that is that if it’s BEE rating is Level 4, that is 50% or below black ownership, the requirement if for a BEE certificate and NOT an affidavit.
To apply for your BEE affidavit, just log on to our website and complete the one pager, as soon as you have paid the R350 via credit card our system will automatically email you your Affidavit in a PDF format. You need to print it, sign it and then take it to a Commissioner of Oaths to be certified. You can go to any Police Station, Post Office or Bank for this and it is free of charge.
BEE Affidavits are valid for one year from date of issue. It really is simple as that!
I hope this has been helpful, If you have any questions please don’t hesitate to contact our call centre and we will be delighted to assist.
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I just registered business today and i haven't made an income yet! So what can i write on the option asking for how much was the last financial end revenue for selected enterprise. So how much must i write?
Hi William please select the less than R10 million option, which also caters for zero turnover.
Thank you so much!
You're welcome!
My company name is on the available section and I can't proceed with the registration on cipc. I didn't pay for the registration fee same day
You can add funds to your CIPC account so that it is in the credit.
Great content! My business is making less than 10m p/a. But I still have a BBBEE certificate. Is this a discrepancy when applying for RFQs?
Hi Nandi, there should be no discrepancy as the input data will be the same. Both the certificates and affidavits expire after a year.
Do I have to complete a BEE affidavit even if I don't have a business?
Hi Hakaishin The short answer is no it is not compulsory. Only if you do business (Tender) with the South African government or with large businesses that require BEE verification is it compulsory. So if you are a small business selling products directly to the the public it is not a requirement.
I just subbed
Thank you for watching the video
Hi, is it possible to get a B-BBEE affidavit as an small international company?
Hi there, Yes you can, however B-BBEE affidavits are not required anywhere in the world other than in South Africa. It is also not compulsory unless you are dealing with the South African government. I hope this answers your questions.
@@swiftreg Thank you for your response, the company I want to supply to said they wanted a B-BBEE certificate, hence my question.
Ah okay, no problem. You can just use the following link which will help you generate a B-BBEE affidavit www.swiftreg.co.za/Swiftreg/Products/Bee_Affidavit.aspx
But why are you selling an Affidavit, This is a free document..
Hi Roeland, you are correct. It is semantics as one is allowed to charge for the IP in compiling the Affidavit, but not the affidavit itself. Strange I know, but this has been confirmed by all the accounting institutions.