The Companies and Intellectual Property Commission (CIPC) recently published Notice 08 of 2021, introducing its new automated process registration system called K2. This new registration system will simplify the processes across its service provision which includes Name Reservation, Co-operative and Private company registration in a fully automated environment as a first phase. The new K2 registration system intends to make the registration process a lot easier for customers with the quickest processing of applications and faster turnaround times.
The Notice also states that payments will now be effected by means of a 3-D enabled card (debit and credit cards). The CIPC will be closing down the payment depository system in the coming months, as it introduces instant card payments and encourages all clients with balances in their agent accounts to start using such and not to deposit any bulk amounts.
The current registration process will run concurrently with the new process until further communication is issued however the CIPC encourages its clients to start using the new system and get familiar with its functionality, as it will be switching off the current registration system in the coming months and migrating fully to the new K2 system.