This was fantastically detailed, thank you. Also a great bit of advice in the comments mentioning how having 1200 shares helps as it is has many number factors
Thank this is so informative; I want to sell my shares can I offer the other members how much I want for my shares or I need to allow them to give me their own offer?
Hi there, the method of valuing shares should be stipulated in the shareholders agreement. If you don't have one it boils down to what a willing buyer and a willing seller agree on. In other words, they can make you an offer and you have the choice of accepting it or not. The same applies the other way round where you can make the offer and they have the choice of accepting it or not.
HI xy, the MOI stands for Memorandum of Incorporation and it is the rules which govern the company and it directors. The MOI can be customized, however most private companies use the standard default MOI as drafted by CIPC. This form is called the Cor 15.1A. I hope this answers your question.
Hi Douglas, hope you are well. I intend to incorporate asap. How do I allocate a specific amount of ordinary shares and voting rights stipulated on our shareholders' agreement onto the CIPC platform?
Hi there, the number, class and type of shares are stipulated in the Memorandum of Incorporation (MOI). You would need to customise the MOI to register anything other than ordinary shares (one share = one vote). CIPC only asks for the number of authorised share capital when registering online. Customised MOI's are manual applications. We recommend 1200 ordinary shares, because it is divisible by most numbers as you can't own a fraction of a share. The issuing of the shares from the authorised share capital to the shareholders is NOT done by CIPC and left for the directors to resolve. If you have more than one shareholder I would recommend that you register via our website www.swiftreg.co.za and the reason for this is that we issue the share certificates and you have the option of including our standard shareholders agreement which I explained in the video. I hope I have answered your question.
Informative indeed. So my question is that as a shareholder, who is a foreigner, and may be still in another country can I have majority shares more than the other shareholder that is locally in South Africa and appointed them as a director so that they can open up the account because I will not have the 5 million at the moment. How could this work, please.
The explanation is simple and easy to understand
Thank you, I'm glad it helped
This was fantastically detailed, thank you. Also a great bit of advice in the comments mentioning how having 1200 shares helps as it is has many number factors
Glad it was helpful!
Very clear in the way you speak and pronounce. In the way you make the info concise and easy to remember. Thanks and please do make more such UA-cam
Thank you, I will
Very Informative.. Thank you..
Glad it was helpful!
Great explanation!!
Glad it was helpful!
Highly informative 🇯🇲🇯🇲
Thank you! much appreciated.
Thank this is so informative; I want to sell my shares can I offer the other members how much I want for my shares or I need to allow them to give me their own offer?
Hi there, the method of valuing shares should be stipulated in the shareholders agreement. If you don't have one it boils down to what a willing buyer and a willing seller agree on. In other words, they can make you an offer and you have the choice of accepting it or not. The same applies the other way round where you can make the offer and they have the choice of accepting it or not.
@@swiftreg thank you really appreciate; I might keep bothering you with information
if a C.C member wishes to sell their membership outside of the CC.can they set their own sale price?
Yes, however the existing members must still agree to the sale. Any membership change to a CC requires the signature of all the members.
What is MOI mentioned in the vid?
HI xy, the MOI stands for Memorandum of Incorporation and it is the rules which govern the company and it directors. The MOI can be customized, however most private companies use the standard default MOI as drafted by CIPC. This form is called the Cor 15.1A. I hope this answers your question.
Hi Douglas, hope you are well. I intend to incorporate asap. How do I allocate a specific amount of ordinary shares and voting rights stipulated on our shareholders' agreement onto the CIPC platform?
Hi there, the number, class and type of shares are stipulated in the Memorandum of Incorporation (MOI). You would need to customise the MOI to register anything other than ordinary shares (one share = one vote). CIPC only asks for the number of authorised share capital when registering online. Customised MOI's are manual applications. We recommend 1200 ordinary shares, because it is divisible by most numbers as you can't own a fraction of a share. The issuing of the shares from the authorised share capital to the shareholders is NOT done by CIPC and left for the directors to resolve. If you have more than one shareholder I would recommend that you register via our website www.swiftreg.co.za and the reason for this is that we issue the share certificates and you have the option of including our standard shareholders agreement which I explained in the video. I hope I have answered your question.
@@swiftreg Thank you very much Doug. I greatly appreciate it, will use Swift Reg.
Informative indeed. So my question is that as a shareholder, who is a foreigner, and may be still in another country can I have majority shares more than the other shareholder that is locally in South Africa and appointed them as a director so that they can open up the account because I will not have the 5 million at the moment. How could this work, please.
Yes, you can do this.
@@swiftreg great, thank you.