What is Golden Transfers?
Golden Transfers attends to the transfer and registration of members' interest in Close Corporations owning property in Namibia.
In layman terms when you purchase a property that is owned by a Close Corporation only a members' interest change is necessary within the Close Corporation for you to own the property. Normal practice would be that an attorney or conveyancer is appointed to transfer and register such members' interest change. But according to the Close Corporations Act 26 of 1988 and Legal Practitioners Act 15 of 1995 it is not limited to only an attorney or conveyancer to do these transfers. Any other person with the appropriate permission, experience and know how can assist and register these transactions.
After numerous discussions with several attorneys, advocates and accountants, Golden Transfers started specialising in CC-Property transfers to offer clients an alternative.
How to appoint Golden Transfers to do your transfer?
Contact us now on +264 (0)85 588 6222 or Send us a message, then:
- Download "CC-Property Agreement (NO AGENT).pdf" and use it yourself; or
- Download "CC-Property Agreement (ESTATE AGENT).pdf" and instruct your estate agent to use this agreement; or
- Use any other estate agents or attorneys agreement that is drawn up for the "Sale of a Members' Interest" and replace the words referring to (Legal Practitioner, Attorney or Conveyancer) with the name "Golden Transfers" as the preferred "transfer assistant". We suggest that you contact us so that we can give you guidance on how to ammend your specific agreement.
The agreements were drawn up by reputable attorneys in Namibia for Golden Transfers valued clients.
Just forward your signed agreement to us, and we will take care of the rest.
Why should you 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 check, verify and obtain the following:
- Identification and Verification of every client in terms of the Financial Intelligence Act 13 of 2012
- Deed of Transfer
- Certificate of Registered Sectional Title
- Bond Cancellation Figures
- CC1- Founding Statement
- CC2- Amended Founding Statement
- Certificate of Incorporation
- Tax Registration Certificate
- Financial Statements
- Annual Duties
- Accountant's Final Account
- Municipality Building Compliance
- Certificate of Good Standing
- Bank Guarantees
- Rates & Taxes Clearance Certificate
- Water & Electricity Clearance Certificate
- Levy Clearance Certificate
- Pro-Rata management of any Rent & Levy payments
- Pro-Rata management of any other payments as requested
With regard to the verifications referred to above, each check 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 similar to 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 4 other organizations (Attorney's and Banks) to finalize and complete the CC-Property transfer.
How did Golden Transfers start?
Golden Transfers started as a business idea in the year 2010. We thoroughly studied the Close Corporations Act, Attorneys Act and Estate Agents Act before we consulted with several attorneys, advocates and accountants. It took over 6 months of dedication and hard work to confirm that we comply with all the local laws and regulations in Namibia.
Once we knew it was possible we had our biggest difficulty to get the banks and attorneys of Namibia to work with us. We had to convince and fight with these big organisations as they have one of the biggest monopolies and just refused to work with us. With a calm persistent attitude we broke through and started with our first transaction.
In the past 6 years since opening our doors looking back, it was all worth it, as we worked with all four major banks and the top five transferring attorneys in Namibia to successfully transfer and register several properties and close corporations into our clients names.
Who is the owner of Golden Transfers?
Dickson Swanepoel has more than 14 years experience in the property market, he has gained most of his experience working for Pam Golding Properties (PGP) in Stellenbosch. He started a rental department for PGP Stellenbosch and collected all monies, deposits and ensured that the property owners concerns were promptly attended to. During his last few years with PGP he entered the sales department and signed and secured several property transactions. Today, he is the owner of YellowSquare Properties, the first independent contracting estate agency in Namibia, with more than 45 estate agents. With a vibrant and motivated businessman YellowSquare Properties grew from strength to strength each year to the successful business that it is today. His dynamic team of agents assists property buyers and sellers in the residential, commercial, agricultural and tourism market. They strive for professional, efficient service and produce successful results for their customers.
He also creates and owns several websites specifically to improve the property industry. Several estate agents and agencies in Namibia make use of these websites to give professional advice and service to their clients.
We have the contacts & knowledge to expedite your CC Property transfer! Contact us now for more information.