Before applying for any funding in South Africa, you need to ensure your business meets all compliance requirements. This master checklist covers every document and registration funders expect to see, from CIPC registration to tax clearance, labour compliance, and financial documentation.
Why Compliance Matters
Funders use compliance documentation to assess two critical factors:
- Legitimacy: Is this a real, legally operating business?
- Risk: Does this business manage its regulatory obligations?
- Accountability: Can we trust this business with public/investor funds?
Incomplete compliance is the #1 reason funding applications are rejected or delayed. Even if your business case is strong, missing documents will stop your application in its tracks.
Core Compliance Requirements
1. CIPC Registration & Good Standing
What You Need
- COR14.3 (Company Registration Certificate): Must be less than 3 months old
- COR15.1A (Annual Return): Must be up to date (filed within the last 12 months)
- CoR39 (Beneficial Ownership Register): Required for applications over R500,000
- Memorandum of Incorporation (MOI): Latest version
- Director/Member Details: Current list with ID copies
How to Get It
Download documents from CIPC website (cipc.co.za) or request from your accountant. Allow 5-10 working days for online requests.
Cost
- COR14.3: R15
- Annual Return filing: R75
- Beneficial ownership filing: Free (via eFiling or CIPC portal)
2. SARS Tax Compliance
What You Need
- Tax Compliance Status (TCS) PIN: Valid at time of application (check expires after 1-2 weeks)
- Tax Reference Number: Active and in good standing
- IRP5/IT3 Returns: Filed for all employees (if applicable)
- VAT Returns: Up to date if registered for VAT
- Income Tax Returns: Filed for the last 2 years minimum
How to Get TCS PIN
- Log in to SARS eFiling (efiling.sars.gov.za)
- Navigate to SARS Correspondence
- Request Tax Compliance Status
- Receive PIN via email (usually within 24 hours)
- Share PIN with funder for verification
Processing Time
If returns are up to date: 24-48 hours. If you need to file outstanding returns first: 2-4 weeks.
3. B-BBEE Certification
What You Need
One of the following (depending on your annual turnover):
- EME Affidavit (under R10 million turnover): Sworn affidavit confirming EME status and ownership structure
- QSE Affidavit (R10m-R50m turnover): Sworn affidavit with basic scorecard
- Full B-BBEE Certificate (over R50m): Issued by SANAS-accredited verification agency
Why It Matters
While not always mandatory, B-BBEE status significantly improves your chances:
- 51% Black-owned businesses: Priority access to many programmes
- Youth/women-owned: Qualifies for specialized funding streams
- Level 1-4: Better terms and higher approval rates
How to Get It
- EME/QSE Affidavit: Commissioner of Oaths (police station, bank, attorney) - Same day, R50-R100
- Full Certificate: Contact B-BBEE verification agency - R5,000-R25,000, 2-4 weeks
Labour Compliance
If you have employees (including yourself as a director with PAYE), you need labour compliance documentation.
1. COIDA Letter of Good Standing
What It Is
Compensation for Occupational Injuries and Diseases Act (COIDA) compliance certificate from the Compensation Fund.
Who Needs It
- All businesses with employees (including directors on payroll)
- Some funders require it even for sole proprietors
How to Get It
- Register with Department of Employment and Labour
- Pay annual COIDA assessments (based on payroll)
- Request Letter of Good Standing via ufiling.labour.gov.za
Processing Time
If registered and up to date: 5-10 working days. If registering for the first time: 4-6 weeks.
Cost
Annual assessment: 1-3% of payroll (varies by industry risk rating)
2. UIF Registration & Compliance
What It Is
Unemployment Insurance Fund (UIF) registration and proof of monthly contributions.
What You Need
- UIF Registration Certificate (UIF U-19 form)
- Proof of monthly UIF submissions (via eFiling or labour centre)
- EMP201 returns filed monthly
How to Register
- Complete Form UI-19 at Department of Labour
- Register on SARS eFiling for monthly declarations
- Submit monthly UIF via eFiling with PAYE returns
Cost
2% of employee salary (1% employer + 1% employee contribution)
Financial Documentation
1. Bank Statements
What You Need
- 6 months: Minimum for most funders
- 12 months: Preferred for loans over R500,000
- Business account only: No personal accounts (unless sole proprietor)
- Original bank letterhead: Downloaded from online banking or stamped by branch
What Funders Look For
- Consistent revenue deposits
- Positive cash flow trends
- No dishonoured transactions or overdraft abuse
- Ability to service loan repayments
2. Financial Statements
What You Need
Depending on business age and funding amount:
- Startups (under 2 years): Management accounts or projected financials
- Established businesses (2+ years): Audited or independently reviewed financial statements for last 2-3 years
- Large funding requests (R1m+): Fully audited financials required
Must Include
- Statement of Financial Position (Balance Sheet)
- Statement of Comprehensive Income (Income Statement)
- Cash Flow Statement
- Notes to Financial Statements
Who Prepares Them
- Internal: Small amounts, less formal funders
- Accountant-reviewed: Most DFI and government funders
- Audited: Large amounts, equity investors, some banks
3. Management Accounts
What They Are
Internal financial reports showing your business performance between annual financial statements.
When You Need Them
- If your financial statements are over 6 months old
- For large funding amounts requiring current financial position
- To demonstrate recent growth or turnaround
What to Include
- Income statement (year-to-date)
- Balance sheet (as at latest month-end)
- Cash flow statement
- Aged debtors/creditors analysis
Business Documentation
1. Business Plan
When Required
- All applications over R500,000
- Startup funding (any amount)
- Equity investment
- New product/market expansion
Must Include
- Executive summary
- Business description and market analysis
- Management team and organizational structure
- Products/services offered
- Marketing and sales strategy
- 3-5 year financial projections
- Funding request and use of funds
- Risk analysis and mitigation
Common Mistakes
- Generic templates not customized to your business
- Unrealistic financial projections
- No clear use of funds breakdown
- Missing market research
2. Company Profile
What It Is
A 2-4 page overview of your business covering who you are, what you do, and your track record.
Should Include
- Company overview and history
- Core products/services
- Management team CVs
- Key clients and references
- Major contracts and achievements
- Certifications and registrations
- Infrastructure and capabilities
Sector-Specific Requirements
Beyond core compliance, some industries require additional registrations:
| Sector | Additional Requirements |
|---|---|
| Construction | CIDB grading (mandatory for public sector tenders) |
| Tourism | TGCSA grading certificate |
| Agriculture | Department of Agriculture registration, farm/land ownership proof |
| Healthcare | HPCSA/SANC registration, practice number |
| Food Production | Health permits, HACCP certification |
| Transport | Operating licenses, vehicle registrations |
| Financial Services | FSP license, FAIS compliance |
Compliance Timeline: How Long Does It Take?
If Starting From Scratch
- Week 1-2: CIPC registration, SARS tax registration
- Week 3-4: COIDA and UIF registration
- Week 5-6: File first tax returns, request TCS PIN
- Week 7-8: Obtain B-BBEE affidavit, compile financial documents
- Week 9-10: Prepare business plan, company profile
Total timeline: 8-12 weeks to become funding-ready from a non-compliant state.
If Already Registered
- Week 1: Update CIPC annual return, check SARS compliance
- Week 2: Obtain TCS PIN, COIDA letter, UIF proof
- Week 3: Get B-BBEE affidavit, compile bank statements
- Week 4: Finalize business plan and supporting documents
Total timeline: 3-4 weeks to prepare documentation if already compliant.
Common Mistakes to Avoid
- Expired documents: TCS PIN expired, CIPC cert over 3 months old
- Missing annual returns: Not filed with CIPC even though not yet due
- Personal bank statements: Using personal account instead of business account
- Incomplete financial statements: Missing cash flow statement or notes
- Generic business plans: Template not customized to your actual business
- No proof of trading: Claiming revenue but no bank deposits to show
- Inconsistent information: Different figures in different documents
- Waiting until last minute: Trying to get everything in 1 week
Next Steps
- Download our Compliance Checklist Template to track your progress
- Start with CIPC requirements if not yet registered
- Get your SARS tax clearance sorted
- Prepare your financial documentation
- Browse available funding programmes in FundingOS
- Find a funding consultant in ProGuild for personalized help
Need Help Getting Compliance Ready?
Our network of funding consultants and compliance specialists can help you prepare all the documentation you need for a successful funding application.
- Business plan development
- Financial projections
- Funding application support
- Pitch deck preparation