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According to South African legislation, any company with an annual turnover (sales) less than R10 million is regarded as an Exempt Micro Enterprise (EME). EME’s need to complete an Official BEE Affidavit, which is also required for Tender and Contract applications.
Once your Company’s sales are R10 million or more per year, you have to do a BEE Verification and get a SANAS Accredited BEE Certificate.
To get your free professional BEE Affidavit, simply complete the sign-up form here.
If you require a BEE Certificate and BEE Consultation – click here for more info.
A B-BBEE Affidavit is:
A simple document that states what your level of Black Ownership is. You can simply fill out a free B-BEE Affidavit template accurately and then have it signed and stamped by an official Commissioner of Oath. Once officiated, this will serve as your official B-BBEE Certificate until you hit the R10 million mark of annual turnover. Then it’s compulsory for you to get an official B-BBEE Certificate.
A B-BBEE Certificate is:
The document you need if your company earns (its sales are) R10 million or more per year. If your annual turnover is above R 10 million per year and you require a BEE certificate, then please visit our BEE certificate page here.
A Certificate issued by SANAS after your Company has gone through a verification process through a Verification Agency.
You can read more about the CIPC’s regulation on BEE Certificates and Affidavits for SMEs.
Just complete the sign-up form here to get your free professional BEE Affidavit.
For certain Contracts and Tenders in South Africa, you need a Company that has 10% Black Ownership. In most cases, you need a BEE Level 1 or 2 Company structured correctly.
One of the easiest ways to go about this is to setup a Trust according to your BEE needs.
According to the B-BBEE Act, a Trust can be created to facilitate the ownership by employees, communities, or similar groups.
The Trust can then be made the Shareholder of a Company, instead of individuals. This is called a BEE Trust.