The National Credit Regulator, known in South Africa as the NCR, was established as the regulator under the National Credit Act. They are responsible for the guidance and supervision of the South African credit industry and are tasked with the development and upholding of an accessible credit market for lenders and borrowers alike. A person must apply for registration as a credit provider if that person is- o The party who supplies goods or services under a discount transaction or instalment sale agreement; o The party who advances money or credit under a pawn transaction; o The party who extends credit under a credit facility; o The mortgagee under a mortgage agreement; o The lender under a secured loan; o The lessor under a lease; o The party to whom an assurance or promise is made under a credit guarantee; o The party who advances money or credit to another under any other credit agreement; or o Any other person who acquires the rights of a credit provider under a credit agreement after it has been entered into. So if you fall under the above you are ready to apply for NCR. • A juristic person or a natural person may apply for registration as a credit provider. • A person who is required to be registered as a credit provider, but who is not so registered, must not offer, make available or extend credit, enter into a credit agreement or agree to do any of those things. *Documents and information required for the application for Registration as a Credit Provider * 1. You will completed and signed application form (Supplied by us) 2. We will need Companies and Intellectual Property Commission (CIPC) registration document or other official legal registration document. 3. Copy of the share certificate(s) if applicant is company. Where the majority shareholder is a natural person, please submit the following documentation: Certified copy of the identity document. Criminal clearance certificate not older than six (6) months) 4. Certified copies of ID/Passports of all members/directors/shareholders/trustees/partners/sole proprietors. 5. Resolution if applicant is a juristic person (drafted by us for you). 6. A Criminal Clearance Certificate for all the members/directors/shareholders/trustees/partners or sole proprietors issued by the South African Police Services (SAPS) The clearance certificate must not be older than six (6) months. 7. A signed and stamped letter from the bank confirming the applicant’s banking details or a copy of a cancelled blank cheque or a stamped bank statement not older than six (6) months. 8. Proof of registration with the South African Revenue Services (SARS). 9. Proof of payment of the registration fees: Non-refundable application fee of R1550 Branch fee of R500 per location or premises at or from which the applicant conducts registered activities.
