Close Corporation Explained aka CC

[@BermetChynybek]

Hello. Will foreigners be able to register a close corporation in Namibia in 2024? In South Africa, you said that close corporations have not been registered since 2011. What about Namibia? Is it also impossible to register a close corporation in Namibia?

[@swiftreg]

Hi there, yes you can. However we do not offer such a service.

[@godfreyrath5979]

This was good, thank you

[@swiftreg]

Glad you enjoyed it!

[@gerrydejager4158]

Can a member of a CC set his/her own price to sell a share in a CC( if no agreement does not allow this). After reaching 100 & agreement to sell.

[@swiftreg]

Hi Gerry, for a member of a CC to sell his/her membership (Shareholding) all the current members must be in agreement. This is because at all times a 100% of the membership must allocated to members. There can never be any unallocated membership (Shares) as is the case with Pty's. This forces agreement by all parties. You effectively have to offer the sale of your membership first to the existing parties and if they can't match the price you can sell your membership to an outside party. However, the sale still needs to be agreed to by the existing members. I hope this answers your question.

[@infoswissoil2452]

When you change from a CC to PTY can you legally transfer your customers credit applications from the CC to the PTY

[@swiftreg]

Hi there, yes you can; this is because all the assets and the liability moves with the conversion to the new entity.

[@allendulles2481]

South African Accent = Half British/Half Australian accents combined.

[@swiftreg]

:)