Keeping your business entity type up to date ensures that your Yoco profile matches your organisation’s legal structure. This guide walks you through which business types we are allowed to make to your Yoco profile, in line with South African law, and how to create a new Yoco profile if we can’t make the changes to your existing profile.
Before you get started, please click here for a full list of verification requirements for individuals and businesses.
✨ Important: Your mobile number can only be used for one Yoco profile at a time. If you need to create a new profile for a different business type and want to keep the same number, contact our Support team via our in-app chat and ask them to close your current profile first.
Changing from: Sole proprietor
If you’re a sole proprietor planning to change your business type, here’s how to do it – step by step, based on the change you’re making.
Sole proprietor ➡️ Private Company (PTY) Ltd
Go to your Business settings by selecting your business name in the top right corner of your screen (mobile app) or from the menu on the left of your screen (web app).
Select the Bank details tile/widget.
Select the Change button.
Select the I understand button to continue.
When the pop-up appears, click inside the Account holder field.
Select the registered business you want to link to your Yoco profile.
Sole proprietor ➡️ Close Corporation/Partnership/NPO/NPC/Trust
Sign up with Yoco and create a new profile – make sure that you select the new business type during the sign-up process.
Complete your Yoco profile for the new business.
Remove your Yoco devices from your current Yoco profile and link them to your new Yoco profile – this process is called a Transfer of Ownership and you’ll find a step-by-step guide here.
Changing from: Private Company (PTY) Ltd
If you run a private company and want to change your business type, here’s what to do next – we’ll guide you through each step for your specific change.
Private Company (PTY) Ltd ➡️ Sole Proprietor/ Private Company/ Close Corporation/ Partnership/ NPO/ NPC/ Trust
Sign up with Yoco and create a new profile – make sure that you select the new business type during the sign-up process.
Complete your Yoco profile for the new business.
Remove your Yoco devices from your current Yoco profile and link them to your new Yoco profile – this process is called a Transfer of Ownership and you’ll find a step-by-step guide here.
Changing from: Close Corporation (CC)
If you own a close corporation and want to change your business type, here’s what to do – step by step, based on the change you’re making.
Close Corporation (CC) ➡️ Private Company (PTY) Ltd
Go to your Business settings by selecting your business name in the top right corner of your screen (mobile app) or from the menu on the left of your screen (web app).
Select the Bank details tile/widget.
Select the Change button.
Select the I understand button to continue.
When the pop-up appears, click inside the Account holder field.
Select the registered business you want to link to your Yoco profile.
Close Corporation (CC) ➡️ Sole proprietor/ Partnership/ NPO/ NPC/ Trust
Sign up with Yoco and create a new profile – make sure that you select the new business type during the sign-up process.
Complete your Yoco profile for the new business.
Remove your Yoco devices from your current Yoco profile and link them to your new Yoco profile – this process is called a Transfer of Ownership and you’ll find a step-by-step guide here.
Changing from: Partnership
If you’re a partnership and you’re planning to change your business type, here’s how to do it — step by step, based on the change you’re making.
Partnership ➡️ Sole Proprietor/ Private Company/ Close Corporation/ NPO/ NPC/ Trust
Sign up with Yoco and create a new profile – make sure that you select the new business type during the sign-up process.
Complete your Yoco profile for the new business.
Remove your Yoco devices from your current Yoco profile and link them to your new Yoco profile – this process is called a Transfer of Ownership and you’ll find a step-by-step guide here.
Changing from: Non-Profit Organisation (NPO)
If you run a non-profit organisation and want to change your business type, here’s what to do next – we’ll guide you through each step for your specific change.
Non-Profit Organisation (NPO) ➡️ Sole Proprietor/ Private Company/ Close Corporation/ Partnership/ NPC/ Trust
Sign up with Yoco and create a new profile – make sure that you select the new business type during the sign-up process.
Complete your Yoco profile for the new business.
Remove your Yoco devices from your current Yoco profile and link them to your new Yoco profile – this process is called a Transfer of Ownership and you’ll find a step-by-step guide here.
Changing from: Trust
If you run a Trust, and you want to change your business type, here’s what to do – step by step, based on the change you’re making.
Trust ➡️ Sole Proprietor/ Private Company/ Close Corporation/ Partnership/ NPO/ NPC
Sign up with Yoco and create a new profile – make sure that you select the new business type during the sign-up process.
Complete your Yoco profile for the new business.
Remove your Yoco devices from your current Yoco profile and link them to your new Yoco profile – this process is called a Transfer of Ownership and you’ll find a step-by-step guide here.