We attend to the transfer and registration of members’ interest in close corporations owning property in Namibia.
Why use Golden Transfers?
We give you personal attention and strive to do each transfer as fast and smooth as possible. We go the extra mile, by personally collecting and delivering documents at your address of choice when situated in Windhoek. For all other areas and towns, we will courier the documents.
You will save on costs as we give every client a 20% discount on each transaction.
We can help with bond applications, approvals and cancellations, water & electricity connection and disconnection, telephone connection and disconnection, Municipality Building Compliance Application, Certificate of Good Standing Application and any other requests as required by you.
We send you a statement of account with detailed summary of monies received, paid and interest received.
We obtain, check and assist with the following:
Identification and Verification of every client in terms of the Financial Intelligence Act 13 of 2012
Deed of Transfer or Certificate of Registered Sectional Title
Bond Registration & Cancellation Figures + Bank Guarantees
CC1- Founding Statement with Certificate of Incorporation & CC2- Amended Founding Statement
Tax Registration Certificate & Certificate of Good Standing
Financial Statements & Annual Duties
Municipality Building Compliance
Rates & Taxes + Water & Electricity Clearance Certificates
Levy Clearance Certificate
Pro-Rata management of any Rent & Levy payments
Payment of Accounts (as required)
(With regard to the points above, each action is not always required depending on the type of transaction)
Why you save on transfer costs when you do a CC-Property Transfer?
The government charge costs like transfer duty, deeds office fee and stamp duty on any property transfer between natural person to natural person or natural person to juristic person or juristic person to natural person or juristic person to juristic person. These costs can be very high depending on the purchase price of the property.
Currently the government does not charge these costs when a property is owned by a close corporation and a members’ interest change takes place within the close corporation. With this CC-Property transfer you will be exempt from paying government costs and save costs. This means that on a purchase price of N$5,000,000.00 you will save N$338,300.00 (Natural Person) or N$660,300.00 (Juristic Person).
Keep in mind that when you purchase a close corporation owning a property you will have yearly costs for maintaining the close corporations’ books. Because of this and other factors it’s sometimes better to pay the government costs and purchase the property into your personal name, out of the close corporation with no saving on costs.
Please discuss your transfer options with us so that we can give you some general advice on making the correct and best decision.
Why you save even more when you use Golden Transfers for your CC-Property Transfer?
You can use our professional online Property Calculator to calculate the recommended costs asked by conveyancer’s in respect of the transfer & registration of your members’ interest in a close corporation owning property.
The costs for our services are like the recommended costs asked by conveyancer’s less 20% discount.
Is your money safe and secure?
All monies received are safe, secure and paid into YellowSquare Properties audited Trust Account at Bank Windhoek.
The Trust Account is regulated in terms of the Estate Agents Act 112 of 1976 and implemented in terms of clause 32 (1) of this Act.
On request the money will be invested with a financial institution as per clause 32 (2) of the Estate Agents Act 112 of 1976, and the accrued interest shall be for the benefit of the client.
The interest rate can change without notice and is directly connected to the interest rate offered by the financial institution.
How long will the CC-Property Transfer take?
The duration of the transfer greatly depends on the parties involved and also on the completeness of the required documentation for the transaction to proceed and register.
When the banks are involved with bond cancellation or registration you can easily look at 1 to 3 months.
With a cash deal the transfer can take place within one week should all monies be paid immediately, and all the required Close Corporation documentation is in place and up to date with no bond registration or cancellation.
How does Golden Transfers operate?
We are not registered as attorney’s or conveyancer’s we use the trade name Golden Transfers. All monies are handled by YellowSquare Properties who is registered as Estate Agents in terms of the Estate Agents Act 112 of 1976 with the Namibia Estate Agents Board.
For a CC-Property transfer to take place, we can divide the registration into three sections to identify the person who manages each section:
Section 1: CC-Property Transfer (Golden Transfers appointed by Seller/Purchaser);
Section 2: Bond Cancellation (Attorney appointed by Seller’s Bank);
Section 3: Bond Registration (Attorney appointed by Purchaser’s Bank);
Each transaction varies and will require Golden Transfers as transfer assistant and may possibly include up to 10 other entities (including but not limited to Attorney’s, Banks, Accountants, Body Corporate, Municipality, BIPA, Deed’s Office) to finalize and complete the CC-Property Transfer.