Balancing Privacy and Transparency: The Debate over Trust Ownership in the Age of AML

The Debate over Trust Ownership

Trusts are legal setups. They allow someone, the settlor, to transfer assets to another person, the trustee. The trustee manages the assets for beneficiaries. These legal arrangements provide flexibility, confidentiality, and control for estate planning. They also offer tax advantages. Yet, trusts pose challenges for anti-money laundering (AML) and counter-terrorism financing (CTF) efforts. They can […]

Essential Insights: Director’s Duties in South Africa – 5 Critical Things You Must Know

Director’s Duties in South Africa

Key Takeaways: Understand Your Role: Grasp the full scope of a director’s responsibilities. Act in Good Faith: Always prioritise the company’s best interests. Stay Informed: Keep up-to-date with laws and regulations. Avoid Conflicts: Disclose any potential conflicts of interest. Embrace Transparency: Maintain clear and accurate company records. The Foundation of Directorship Being a director in […]

Cybercrime and the Role of Directors

Cybercrime and the Role of Directors

Key Takeaways What: Cybercrime is any illegal activity that involves a computer, a digital device, or a computer network. It can cause financial losses, reputational damage, legal liability, and operational disruption for businesses and their directors. Why: Cybercrime is a growing threat in South Africa, with an estimated cost of R2.2 billion in 2020. Directors […]

Understanding Personal Liability Companies in South Africa

Personal Liability Companies in South Africa

Key Takeaways What: A personal liability company (Inc.) is a business where directors are jointly liable with the company for debts and liabilities. Why: Offers credibility, limited liability for shareholders, and perpetual succession. How: Register with CIPC, comply with legal requirements, and maintain proper records. Who: Ideal for professionals like lawyers, doctors, and accountants. Where: […]

Ensuring CIPC Compliance: A Comprehensive Guide by Intersect Connect

Ensuring CIPC Compliance A Comprehensive Guide

In the dynamic landscape of business, adherence to regulatory standards is paramount. At Intersect Connect, we understand the significance of compliance, and today, we delve into the intricacies of CIPC compliance. Our goal is to provide you with a comprehensive guide that not only demystifies the complexities but also empowers your business to navigate the […]

Registering a Private Company in South Africa

Registering a Private Company in South Africa

Key Takeaways Registering a private company in South Africa has many benefits, such as limited liability, ease of transfer of ownership, and tax advantages. The registration process involves choosing a business structure, choosing a company name, registering with CIPC, registering with SARS, opening a bank account, complying with other regulations, implementing good corporate governance, and […]

Navigating Compliance Challenges: A Deep Dive into South African Business

Navigating Compliance Challenges

Introduction Running a successful business in South Africa, like anywhere else in the world, comes with its own set of challenges. Among these challenges, compliance-related issues take center stage. South African businesses operate in a dynamic environment marked by regulatory complexities, shifting market dynamics, and the need for adherence to various rules and standards. In […]

Simplifying Company Secretarial Compliance in South Africa: A Comprehensive Guide

In South Africa, ensuring company secretarial compliance is vital for businesses to operate legally and efficiently. However, many companies find it challenging to navigate the complex web of regulations and requirements imposed by the Companies Act. This blog post aims to provide a comprehensive guide on how companies can ease their secretarial compliance burdens. By […]

Enhance Compliance and Efficiency: Company Secretarial Services in South Africa

In today’s fast-paced business landscape, companies must navigate a complex web of legal and regulatory requirements to ensure compliance and maintain efficiency. This is where professional company secretarial services in South Africa play a vital role. In this blog post, we will explore the importance of company secretarial services, their benefits, and how they can […]

Unveiling the Essential Duties of Company Directors in South Africa: A Comprehensive Guide

As the backbone of corporate governance, company directors play a pivotal role in ensuring the success and sustainability of organizations. In South Africa, the Companies Act establishes a framework that outlines the specific duties and responsibilities that directors must fulfil. This blog post will delve into the duties of company directors as required by The […]