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South Africa: SA in 'World First' Business Banking Deal
Source: SA - the Good News via SouthAfrica.info
Source Date: Thursday, April 25, 2013
Focus: Electronic and Mobile Government, Internet Governance
Country: South Africa
Created: Apr 25, 2013

Williams said it currently took the CPIC one day to process an electronically filed application for a company registration provided that the necessary funds were in the bank and all the documents were correctly submitted, the Business Day reported.
Other South African banks - Nedbank, Standard and Absa - have been invited to take part in the initiative, but do not have the required systems in place yet.
This collaboration with banks is a world first, and the initiative includes another first as South Africans will be able to electronically file intellectual property applications on trademarks, designs and patents.
"All these initiatives are aimed at expediting the process of company registration, a vital element in the ease of starting a business which historically has been a long one in South Africa compared with other countries," Business Day said.
Collaborations with the Home Affairs Department and South African Revenue Service are also being forged in the hope of establishing high-speed links and an integrated service that provides exchange and verification data.
This would mean that SARS could register a company and register it for Value Added Tax (VAT) simultaneously.
CIPC Commissioner Astrid Ludin said the initiative is designed to make it easier for entrepreneurs to interact and do business with the South African government.
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