Company annual return
All companies in South Africa are now required to annually submit information called the annual return. This return needs to be submitted to the registrar of companies and includes information on who the directors and auditors are, and business contact details amongst other basic information.
It is actually quite easy to submit online by going to the Cipro website. The information is required to keep the Government updated on the various trading entities in the country. Bizempire sees the value in that, but we must add that the fact that you need to pay upwards of R450 in order to submit this return is a little unnecessary and irritating.
At the moment, only companies and not sole proprietors or cc are required to submit this return. It is therefore possible to get your auditor to do this task for you each year, but this will come at a fee.
This bit of red tape admin is only required once a year and can be done in 15-20 minutes, so its affect on productivity is negligible. The biggest trick is being able to remember to even fill in the return as CIPRO does not seem to have any reminder system setup despite being provided with contact details each year.