You’re filling in your beneficial ownership declaration on the CIPC portal, and you hit a field that asks for “Number of Securities Issued.” Your company was recently incorporated, no share certificates have been issued, and no shareholders’ agreement mentions a specific number. What do you enter?
This is one of the most common questions we get at BoDocs, and the answer is simpler than most people expect — but getting it wrong can cause real compliance problems.
Shares Authorised vs Shares Issued
First, the distinction that trips everyone up. Your Memorandum of Incorporation (MOI) specifies the number of shares your company is authorised to issue — this is the maximum. The number of shares issued is how many have actually been allocated to shareholders. These are two different numbers, and CIPC asks for the issued number.
For most newly incorporated Pty Ltd companies using the standard CIPC MOI, the authorised share capital is 1,000 ordinary shares with no par value. But authorised doesn’t mean issued.
What If No Shares Have Been Formally Issued?
Here’s the practical reality: if your company has at least one shareholder (which every Pty Ltd must have), then at least one share has been issued — even if no share certificate was ever printed. The Companies Act requires every company to have at least one issued share.
When you incorporated your company, the founding shareholders were recorded on the CoR14.1 (registration form). Those founders each hold at least one share by virtue of incorporation, regardless of whether physical share certificates exist.
Need to file your beneficial ownership declaration?
Since July 2024, CIPC will not accept your annual return without a current beneficial ownership declaration. BoDocs produces all four required documents in about 8 minutes, from R149.99 — or R249.99 and we file it with CIPC for you within one business day.
How to Determine Your Number of Issued Shares
Check these sources in order:
- Your Securities Register: If your company has maintained one (as required by the Companies Act), it will show exactly how many shares have been issued and to whom.
- Share certificates: If certificates were issued at incorporation, they’ll state the number of shares per holder.
- Your MOI or shareholders’ agreement: Sometimes the founding document specifies initial share allocations.
- The CoR14.1 (registration form): Your original CIPC registration application lists founding members and their initial shareholding.
Common Scenarios
Single-Member Pty Ltd
If you’re the sole shareholder and director, and no specific allocation was made at incorporation, the standard assumption is that all authorised shares were issued to you. For a standard MOI, that’s typically 1,000 shares. Enter 1,000 as the number of securities issued, with 100% held by you.
Two or More Founders
If your company has multiple founders, check whether a specific split was agreed. Common splits are 50/50 (500 shares each from 1,000), 60/40, or equal thirds. If no split was documented, the default assumption is equal allocation among all founding shareholders.
Company With a Trust or Holding Company as Shareholder
The number of issued shares is the same regardless of who holds them. If a trust holds 100% of your company’s shares, the issued securities are still 1,000 (or whatever number was allocated). The beneficial ownership declaration then traces through the trust to the natural persons who are trustees and beneficiaries.
What Happens If You Enter the Wrong Number?
If the number of securities in your beneficial ownership declaration doesn’t match your securities register or other CIPC records, you risk:
- Your beneficial ownership declaration being flagged as inconsistent
- Your annual return being rejected when CIPC cross-checks the records
- Having to refile with corrected information, which costs time and potentially money
It’s better to confirm the correct number now than to discover the error at annual return time.
The Quick Answer
If your company has a standard CIPC MOI with 1,000 authorised shares and you’ve never done a specific share allotment, enter 1,000 as your number of securities issued. This is the most common scenario for South African Pty Ltd companies.
If you’re unsure, check your CoR14.1 or ask your accountant to confirm the initial allocation before filing.
Related Guides
Once you’ve sorted out the number of securities issued, you may need to update your declaration if you’ve recently changed directors — see how a CoR39 affects beneficial ownership. If your annual return was rejected, check why beneficial ownership is the #1 cause. For dormant companies wondering whether they still need to file, read our dormant company compliance guide.
How BoDocs Handles This
When you use BoDocs to prepare your beneficial ownership documents, the guided questionnaire walks you through exactly this question. You enter the number of shares each shareholder holds, and BoDocs calculates the percentages, generates the Securities Register, and ensures consistency across all four documents — Disclosure of Beneficial Interest, Beneficial Interest Register, Securities Register, and Original Mandate.
No guesswork, no inconsistencies between documents, no rejected filings.
Documents Only: R149.99. Documents + Submission: R249.99 — we file with CIPC for you within one business day.