If you want to start your own security company in South Africa, there are a number of requirements you need to satisfy before you can start your security guard business.
The most important requirements are that you need to be compliant and that you need to be registered at PSIRA as a B-graded security person to be able to be an owner or director of a security company in South Africa. (Download button at the bottom of this page.)
To be B Graded, you need to pass the requirements of grades C – E.
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What you need to register a security company in South Africa:
- Decide which security services your security company will provide.
- Register a company at the Companies and Intellectual Property Commission (CIPC).
- Register for all taxes at SARS (SARS Tax Clearance Certificate, VAT Registration Number, PAYE Number).
- Unemployment Insurance Fund (UIF) and Compensation for Occupational Injuries and Diseases (COID) registration.
- One-year business plan.
- Declaration that your business will be able to operate for the next year.
- Office location that is permanent (fixed and immovable)
- B-BBEE Affidavit for companies with a turnover of less than R10 million. Download an example.
- B-BBEE Certificate for companies with a turnover of more than R10 million. Download the steps you must follow.
- A Letter of Good Standing issued by SARS which confirms that you are registered where you need to be registered.
- You must be able to prove to PSIRA that you do not have a criminal record.
- PSIRA will test your competency by way of an exam. Fees change annually, so check beforehand what you need to pay.
What to know when you start your own security company
Security services according to the Private Security Industry Regulation Act includes the protection, safeguarding and reactive response for the purposes of safeguarding (protection) of persons and property in any manner.
You must know the security business to offer a reliable and popular security service to your clients, so it is advisable to first work at a security company to learn the trade if you do not have security experience.
You will need to know enough about security services to give informed advice to clients. You will also have to know about running a business because the security industry is a competitive industry and you need to know how to manage people and money effectively.
Homeowners who need security services are much more price-sensitive than business owners who must use security services to protect their livelihood and can claim it from tax.
Once you have been registered, you can put your business marketing plan into action and start looking for clients.
Hopefully, you will already know:
- Which security services you will offer.
- What your competitive advantage is.
- How to promote yourself.
- How to promote your services.
- How to network.
When you have your security company up and running, you will need to start employing security staff.
To do this, you will need help with appointing the right people. You can find help here.
Non-compulsory voluntary security associations
Membership of these organisations is not compulsory, but membership has many benefits and lends credibility to your business.
- SASA – Security Association of South Africa
- SASSETA – Safety & Security Sector Education & Training Authority
- SANSEA – South African National Security Employers Association
- SAIDSA – South African Intruder Detection Services Association (specifically for alarm monitoring and armed response services)
- ESDA – Electronic Security Distributors Association (This specifically for electronic security equipment)
Download PSIRA Registration Form
Once you have your security guard company up and running you need to set up an office and buy security accessories
Related Resources
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.