Personal Liability Companies, designated as Incorporated or "Inc.," are established by one or more individuals with the goal of generating financial gain for shareholders. Professionals such as doctors, lawyers, engineers, accountants, and sole traders can register this type of company, where they accept personal liability. Both the company and its directors, including current and former ones, are jointly responsible for all debts and liabilities incurred. The total cost for registration, including company name reservation and incorporation, is R1,599.00. All necessary documents are submitted to the Companies and Intellectual Property Commission (CIPC) of South Africa, and once registered, the company incorporation documents will be sent to you.