Commonly knows as a ‘CC’, it is a distinct juristic person protected by the Close Corporation Act of 1984 and allows for the separation of assets and liabilities. This is distinct from a Sole Proprietor, who trades under his or her own name, but with no separation of assets and liabilities. Close Corporations are in the process of being phased out in South Africa and no new CCs have been registered since May 2011.

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