What is included:

  • FOUNDING STATEMENT
  • SOCIAL SECURITY
  • INCOME STATEMENT
  • SME CERTIFICATE
  • AFFIRMATIVE ACTION
  • CONSENT LETTER
  • GOOD STANDING FINANCE AND SSC

Note: Form CC1 to be submitted together with the following documents:

Copy of the approved form for name reservation

  • Founding statement in triplicate
  •  Consent letter from the accounting officer
  •  Certified copy of passport in case of foreigners
  •  If no identity document has been issued, written statement to this effect must be attached.
  •  Minors need assistance by parent or guardian. A written statement to this effect must
    be attached.

What is a Close Corporation?

  • A Close Corporation generally referred to as a CC is a legal entity that provides its
    members with limited liability (legal responsibility).
  • A CC can be registered by a minimum of one (1) and a maximum of ten (10) persons.
  • Such persons are referred to as members and they usually own and manage the CC.
  • The interest of the members in the CC must always add up to 100% and be expressed as
    a percentage.
  •  The underlying principle of a CC is to be profit making in its intentions.
  • The members have to comply with certain legal and statutory requirements.
  • A CC must be run on sound business principles.

What are the Advantages of a Close Corporation?

  •  As it is a separate legal entity, it provides limited liability for its members meaning
    that no member can be held personally liable for the debts of the CC unless if
    they act negligently.
  •  The legal procedure for registration, incorporation and administration is relatively simple.
    What are the Disadvantages of a Close Corporation?
  •  The assets of the business rest in the CC and not in the personal estate of the
    member/s.
  •  The number of members allowed is limited.

Who can register a Close Corporation?

  •  Any person or persons (Namibian or foreign nationals) with valid identity and
    passport documents can register a Close Corporation.
  •  Accounting officer is compulsory.

What Forms are required for registration?

  • CC8 : Name Reservation
  • CC1 x 3 : Founding Statement
  •  CC2 x 3 : Amended Founding Statement
  • Consent Letter from recognised Accounting Officer

Note: All forms are available online at https://sk24.online or for those with no access to
the Internet, the forms are also available nationwide at the Head Office
or Regional Offices of the Ministry of Trade and Industry.

What are the Procedures for registering a Close Corporation?

  • Step1: Submit a name application/reservation on form CC8.
  •  Step2: Upon approval of name reservation, submit a Founding Statement on
    form CC 1 in triplicate.

What and When is an Amended Founding Statement required?

An Amended Founding Statement is generally required in the following instances:

  • Change of Name (need to apply for the new name in advance).
  • Appointment of new member/members/accounting officer.
  • Resignation of members/accounting officer.
  • Change of financial year-end, principal business or addresses, etc.