How do I change the name of my company if it was initially registered with only a registration number?
Practice note 1 of 2014
The Companies Act, 2008 provided that a company can be registered with the company number as its name. This is the quickest way to secure a company registration in order to start doing business.
The process of doing the consequent name change was found by the public to be cumbersome and requires additional costs, and the CIPC strive to assist in always streamlining processes.
Therefore, the CIPC has approved a separate name change process to be followed in instances where the company registration was done without a name reservation and was awarded a registration number as the name of the company. In such instances the company in question still need to apply for a relevant name reservation and lodge the necessary name change application documentation with the CIPC, but the name change process will be free of charge.
The requirements for the waived fee to be applicable is as follows:
- Company must have been incorporated with its registration number as its name;
- Only companies amending its name for the first time after being incorporated with its registration number as a name;
- Applicable from 3 March 2014
Companies meeting the above criteria will be allowed the waiver of the R250 amendment fee and must ensure that the correct documents are lodged via the dedicated e-mail address for this purpose, namely namechange@cipc.co.za.
Important to note is that only the amendment fee is waived, and it is still the responsibility of the relevant company to see to the name reservation following the normal process protocols, prior to lodgment of the name change application.
Required documentation:
- COR15.2 (completed and signed by active director / company secretary)
- Copy of the resolution confirming the approval of the name change
- Copy of the approved name reservation – COR9.4
- Copy of the certified ID of the COR form signatory
- Approved names which include the word “sure” (e.g telesure, insurance, etc) must lodge an approval by the Financial Services Board (FSB) to use the name
- Ensure the customer code is clearly visible on the COR form for tracking purposes
How do I view my account statement/the balance in my customer account?
Follow these steps to view your account statement online:
- Visit the CIPC website – www.cipc.co.za
- Log in using your customer code and password
- Click on “Additional services”
- Click on the second link on the left menu, i.e. “Customers Transactions”
- Select the relevant icon to download your statement
How do I request a refund?
Submit your request together with the following to refunds@cipc.co.za
- Certified ID document of the owner of the customer code
- Proof of payment
- Bank details on bank letterhead or bank stamp
- Letter signed by account holder indicating the reason for the refund, the amount and customer code
Refunds will be processed within 30 working days upon receipt of a request for refund providing all the required documentation is submitted.
How do I update my customer contact details?
CIPC is committed to customer service, and to communicate important information and developments to our customers.
1. Updating customer contact details
To enable CIPC to reach customers, all customers are requested to update their customer profile (customer code details) with CIPC. Updated e-mail address and cell phone numbers are of special importance for communication purposes.
Steps to view and edit your customer profile:
- Log in as CIPC customer on the Home page by clicking on Customer login.
- In the top left corner of the screen, click on your customer name displayed. This will display the customer profile information.
- Review all information and update.
2. Updating company details
Updating of company contact details is very important from a compliance perspective. Enterprises should ensure that CIPC are always kept up to date with the latest company information. To view information on how to update private company details, click here.
Student Loans in South Africa: How to Apply and What to Expect
For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.
What Are Student Loans?
Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.
Types of Student Loans in South Africa
- NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
- Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
- Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.
Requirements to Qualify for a Student Loan
Each provider has its own criteria, but most South African student loans require the following:
- Proof of South African citizenship or permanent residency
- Proof of registration or acceptance at a recognised tertiary institution
- Parent or guardian with a stable income to co-sign (for private loans)
- Completed application form with supporting documents (ID, proof of income, academic records)
How to Apply for a Student Loan
To apply for a student loan in South Africa, follow these steps:
- Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
- Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
- Complete the application form online or at a branch.
- Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
- Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.
Loan Amounts and Repayment
The loan amount you can receive depends on your chosen lender and financial need:
- NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
- Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.
Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.
FAQs on Student Loans in South Africa
1. Can I apply for a student loan without a parent or guardian?
For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.
2. Is NSFAS a loan or a bursary?
NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.
3. What is the interest rate on student loans?
Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.
4. What happens if I fail my courses?
If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.
5. Can I use a student loan to pay for accommodation and laptops?
Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.
Final Thoughts
Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.