How to register a Firm
In order to register a firm, a person must be a registered Principal Estate Agent, as prescribed by
the ACT.
 An Estate Agent may not use a name/trade name which is identical or confusingly
similar to the name/trade name of an estate agent who has already been issued with a
fidelity fund certificate or whose fidelity fund certificate has been suspended, has
lapsed or has been withdrawn;

Estate agents are warned, before incurring any expenditure with registering their
company, to first ascertain from the Board whether a proposed name/trade name is
acceptable on initial or subsequent registrations, however, firm names are not reserved
in any way for any specific firm by the Estate Agency Affairs Board;
 A similar name can be used if the name has been in use previously, but that company
has been deregistered with the Estate Agency Affairs Board for a period of minimum
three years;
 A firm must open and keep one or more separate trust accounts with a bank,
irrespective of whether the firm will handle trust monies or not;
 The firm must appoint auditors and the auditor must be a person registered in terms of
section 23 of the Public Accountants and Auditors Act [No. 80 of 1991]. This means that
the auditor must be registered with the Independent Regulatory Board for Auditors
(IRBA);
 The auditor must audit ALL the estate agency books of an estate agent including the
trust ledgers and trust accounts;
 It is the duty of the principal agent concerned to ensure that the auditor submits to the
Estate Agency Affairs Board the annual auditor’s report, on the prescribed form, within
four months after the end of the financial year of the estate agency firm concerned
[sections 29[b] and 32[4] of the Estate Agency Affairs Act;
 If the firm is a company or a close corporation every director and alternate director and
every member must individually apply for a Fidelity Fund certificate and each such
person must pay the prescribed fees;
 If the firm is a partnership, the partnership itself must apply for a Fidelity Fund
Certificate giving full particulars of the business and each partner [whether the partner
is active or not], must individually apply for a Fidelity Fund Certificate to be issued to
such person individually, and each partner must pay the prescribed fees to the Board;
 If the firm is a sole proprietorship, the proprietor must complete the necessary
application forms, giving particulars of the business, and pay the prescribed fees. Only
one certificate is issued in respect of sole traders;
 All principal estate agents must keep a proper set of accounting records of all
transactions pertaining to the estate agency business, including records of trust monies
held by the firm on behalf of other persons, according to normal accounting principles;
 The Estate Agency Affairs Board will issue the Fidelity Fund Certificate to the estate
agent concerned and only on the issue of these Fidelity Fund Certificates, may such
estate agent commence operations;
 Directors, Members, partners and Sole Proprietors must submit their application forms
and payment together with the firm’s application form in one batch;
 No individual Fidelity Fund Certificate can be issued unless the firm’s application form
has been received with the principals’ application forms. The firm itself makes no
payment although it must complete an application.
PLEASE NOTE:
Application Form:
An application form must be fully completed and signed.
Bank Letter:
A letter from the bank confirming that a property designated trust
account has been opened in terms of section 32(1) of Act No. 112 of
1976.
Auditor’s Letter:
A letter from the firm’s auditors (registered with the Independent
Regulatory Board for Auditors (IRBA confirming acceptance of
appointment to audit firm’s accounts
Documents required when registering a new firm are listed in the table
below:
SOLE PROPRIETER
CLOSE CORPORATION
PARTNERSHIP
COMPANY (Pty) LTD
ID copy
ID copy
ID copy
ID copy
Auditor’s Letter of
confirmation that they
will be representing the
firm for the submission
of annual audit reports
Auditor’s Letter of
confirmation that they will
be representing the
firm for the submission
of annual audit reports
Auditor’s Letter of
confirmation that they
will be representing the
firm for the submission
of annual audit reports
Bank Letter of
. confirmation that the
Trust A/C has been
opened for the Firm
.
Firm application form
Auditor’s Letter of
confirmation that they will
be representing the
firm for the submission
of annual audit reports
. Bank Letter of confirmation . Bank Letter of
that the Trust A/C has been confirmation that the
opened for the Firm
Trust A/C has been
opened for the Firm
. Bank Letter of confirmation
that the Trust A/C has been
opened for the Firm
.
.
Firm application form
.
Firm application form
Firm application form
Application form for the
. Principal
Application form for all
Application form for all
Application form for all
acting
members/directors
acting
.
.
. acting members/directors
members/directors
Cheque or proof of
. payment of
R1 270.00 for each
principal
Company registration
Letter of partnership
Company registration
. certificate (CK1 documents) . agreement between the . certificate (CM29)
partners
.
. Resolution form/letter for . Cheque or Proof of
a member
payment of R1270.00
for each principal
. Cheque or Proof of
payment of R1270.00
for each principal
. Cheque or proof of
. payment of R1270.00
for each principal
.
.