{"id":351169,"date":"2019-11-05T08:35:34","date_gmt":"2019-11-05T06:35:34","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=351169"},"modified":"2019-11-05T08:35:34","modified_gmt":"2019-11-05T06:35:34","slug":"you-can-now-register-a-business-in-south-africa-for-r175-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/technology\/351169\/you-can-now-register-a-business-in-south-africa-for-r175-heres-what-you-need-to-know\/","title":{"rendered":"You can now register a business in South Africa for R175 &#8211; here&#8217;s what you need to know"},"content":{"rendered":"<p>The Department of Trade and Industry (DTI) has launched the <strong><a href=\"https:\/\/bizportal.gov.za\/\" target=\"_blank\" rel=\"noopener noreferrer\">pilot phase<\/a><\/strong> of a new business website which aims to significantly improve the ease of doing business in South Africa.<\/p>\n<p>In a statement on Monday (4 November), Trade and Industry minister Ebrahim Patel said that the Biz Portal means that an entrepreneur will be able to register a business within a day in South Africa, a dramatic improvement on turnaround times of 40 days recorded by the World Bank 2020 Ease of Doing Business Report.<\/p>\n<p>The current price for registering a company through the portal is R175.<\/p>\n<p>However, Patel said that the Biz Portal was not limited to just registration, and that South Africans will also be able to access several business-related services to help in starting their company.<\/p>\n<p>This was done through a collaboration with the South African Revenue Services (SARS), the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF), he said.<\/p>\n<p>Patel said that this collaboration means that users will be able to access the following features through the portal:<\/p>\n<ul>\n<li>Company registration;<\/li>\n<li>Tax registration number;<\/li>\n<li>Domain name registration;<\/li>\n<li>B-BBEE Certificate;<\/li>\n<li>Compensation Fund registration;<\/li>\n<li>Unemployment Insurance Fund registration;<\/li>\n<li>Business bank account.<\/li>\n<\/ul>\n<p>Currently four major banks are participating on the platform and customers will be able to make a direct payment in relation to the registration services at the end of the transaction, be routed into a safe banking platform to apply for a business account or opt for their personal details to be passed on to a bank of their choice.<\/p>\n<p><strong>Pilot phase<\/strong><\/p>\n<p>In the current pilot phase, the system is being tested and strengthened, said Patel.<\/p>\n<p>He said that the next phase of the Biz Portal will make provision for other services related to running and maintaining a business.<\/p>\n<p>Identity authentication will be via the real-time Home Affairs Population Register and other sophisticated measures would serve as a necessary buffer to ensure the integrity of the system.<\/p>\n<p>\u201cThe applicants will also have an option to apply for a Domain Name and Broad-Based Black Economic Empowerment (B-BBEE) Certificate, thanks to the partnerships CIPC has with the Domain Name Authority, ZADNA and the DTI, respectively.<\/p>\n<p>&#8220;From a customers\u2019 perspective, there is no need to visit multiple government institutions, saving them time and money.<\/p>\n<p>&#8220;Such seamless registration services will enable entrepreneurs to focus on transforming innovative ideas into beneficial products and services, which will contribute to the creation of jobs in our country,&#8221; he said.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/350891\/new-visa-changes-coming-to-south-africa-this-month-heres-what-you-need-to-know\/\" target=\"_blank\" rel=\"noopener noreferrer\">New visa changes coming to South Africa this month \u2013 here\u2019s what you need to know<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Department of Trade and Industry (DTI) has launched the pilot phase of a new business website which aims to significantly improve the ease of doing business in South Africa.<\/p>\n","protected":false},"author":10,"featured_media":21967,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9878],"tags":[26],"class_list":["post-351169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/351169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=351169"}],"version-history":[{"count":15,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/351169\/revisions"}],"predecessor-version":[{"id":351227,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/351169\/revisions\/351227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/21967"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=351169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=351169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=351169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}