PSIRA Registration Fee 2024
As part of the process, you have to pay a mandatory PSIRA registration fee of R6,750 for businesses and R230 for individuals. The payment is through a cheque, and a copy of the proof is to be attached to the application. Payments should be made out to:
1. For Businesses/Firms:
Private Security Industry Authority
- Bank: Nedbank, Arcadia
- Account Number: 16333 66200
- Branch Code: 163345
- Ref No: Director’s ID no. (Only)
2. For Individuals:
Private Security Industry Regulatory Authority
- Bank: Nedbank, Arcadia
- Account Number: 1633366200
- Branch Code: 163345
- Ref No: Your ID number
The PSIRA registration fee is only for registration. Once the business is registered, the business will still pay for the pro-rata portion of annual fees for the remainder of the financial year. Annual fees are payable where your company is in operation or not. You can check more information on yearly fees on the official PSIRA website.
Who Is PSIRA?
The Private Security Industry Regulation Authority provides guidelines on the registration process of security-related services in South Africa such as guarding, escorting, monitoring, investigating, and armed reaction. The regulator also oversees the running of individuals and firms offering private security.
PSIRA Registration Guide
How do I register a private security company in South Africa? Follow these steps:
- Private security operators have to apply for registration through the director of PSIRA. You can download PSIRA registration forms from the website, print, and fill out offline. Alternatively, you can fill out the PSIRA form online.
- The duly filled forms should be accompanied by the necessary supporting documents depending on the nature of the business. You can use the application checklist (comes with the registration forms) to guide you. Below are some of the PSIRA registration requirements.
I. Entity Documentation Required For Registration:
- Trust – Trust Documents – Master of the High Court or
- Partnership – Partnership Agreement (An Attorney must draft this)
- New Business registration documents as per CIPC
II. Individual Documentation Required From Each Director, Member, Trustee, Partner
- A person needs to be registered as a security service provider and possesses accredited training i.e. Grade E up to B.
- Certified copy of PSIRA certificate
- Certified copy of ID (Identification Card)
- Comprehensive curriculum vitae
- Suretyship Form (SIRA 4) should be signed and initialed on each page by three signatories. Note that black ink is required.
III. Business Documentation Required
Where applicable, present
- VAT registration number
- PAYE number
- Unemployment Insurance Fund – applicable only if already registered with the Labour Department
- C.O.I.D / Compensation Fund) – applicable only if already registered with the Labour Department
- Tax Clearance Certificate applied through the South African Revenue Service is mandatory
- Lease agreement or proof of ownership
- Evidence of telephonic communication utilized – Mobile or landline communication (Statement i.n.o business/owner). If proof of landline is not in the applicant’s/ business name, one can alternatively present an explanatory letter.
IV. The Business Plan For One Year
You are required to submit a one-year business plan.
V. A Resolution
The resolution should indicate that the applicant will be able to operate for the next year.
VI. Specimen Resolution To Be Submitted On Business Letterhead
This should be attached to SIRA 2.
VII. Self-Assessment Infrastructure And Capacity Report (SIRA 24a)
Note that after completing the registration process, an inspection will be done on the business to determine its infrastructure and capacity standards. If the business does not meet the standards required, PSIRA may withdraw the business registration.
PSIRA Registration Fee 2024
As part of the process, you have to pay a mandatory PSIRA registration fee of R6,750 for businesses and R230 for individuals. The payment is through a cheque, and a copy of the proof is to be attached to the application. Payments should be made out to:
1. For Businesses/Firms:
Private Security Industry Authority
- Bank: Nedbank, Arcadia
- Account Number: 16333 66200
- Branch Code: 163345
- Ref No: Director’s ID no. (Only)
2. For Individuals:
Private Security Industry Regulatory Authority
- Bank: Nedbank, Arcadia
- Account Number: 1633366200
- Branch Code: 163345
- Ref No: Your ID number
The PSIRA registration fee is only for registration. Once the business is registered, the business will still pay for the pro-rata portion of annual fees for the remainder of the financial year. Annual fees are payable where your company is in operation or not. You can check more information on yearly fees on the official PSIRA website.
Once you have completed all the above processes, you can either download, sign and email or fax the forms back to PSIRA. Alternatively, you can drop the forms at the PSIRA branch near you. There is a list of branches and contact details online under PSIRA contacts.
PSIRA Registration Inquiry S/O
What is Psira registration? If you want to know more about this body, you can find out more on PSIRA registration inquiry s/o which is available through the official website. You can verify whether a business is compliant before seeking its services. For business PSIRA registration check, go to the site and verify.
On the other hand, individual PSIRA registration status checks can be done on the verification option available on the website. All the necessary information on registration documents can be found here.
Tax and Insurance in South Africa: What You Need to Know in 2025
In South Africa, understanding the relationship between tax and insurance is essential for protecting your financial future and making the most of available tax benefits. Whether you're an individual, a freelancer, or a business owner, the smart use of insurance can help you reduce your tax liability and safeguard your assets.
Why Insurance Matters for Tax in South Africa
Insurance is more than just a safety net—it can also have a direct impact on your tax situation. From medical insurance to business insurance, certain premiums and policies may qualify for deductions or influence how you declare your income and expenses to SARS (the South African Revenue Service).
- Tax Deductions: Certain insurance premiums, especially related to medical schemes and business cover, may offer tax advantages.
- Asset Protection: Insurance helps manage risk, ensuring you’re financially secure when unexpected events occur.
- Estate Planning: Life insurance can play a key role in reducing estate duty and ensuring a smooth transfer of wealth.
Types of Insurance and Their Tax Implications
1. Medical Insurance (Medical Schemes)
If you're contributing to a registered medical aid, you're entitled to a Medical Scheme Fees Tax Credit (MTC). This credit is a fixed amount per month for you and your dependents and reduces your overall tax liability.
2. Life Insurance
While life insurance pay-outs (on death) are generally not subject to income tax, they can be considered when calculating estate duty. Policies structured under a trust or with specific beneficiaries may help reduce the overall tax burden on your estate.
3. Short-Term Insurance (Vehicle, Home, Contents)
Personal short-term insurance is not tax-deductible for individuals. However, if you use part of your home or vehicle for business, the portion of insurance premiums related to business use may be claimed as a business expense.
4. Business Insurance
For companies and self-employed individuals, business insurance premiums—such as professional indemnity, commercial property cover, or key person insurance—are usually tax-deductible as operating expenses.
5. Disability and Income Protection Insurance
The tax treatment of disability insurance changed in recent years. Payouts from income protection insurance are now generally taxed as income, but premiums are not tax-deductible. Understanding this shift is important when planning your cover.
Tax Tips to Maximise Your Insurance Benefits
- Keep Detailed Records: Always keep documentation of insurance premiums, especially those linked to business or medical expenses.
- Consult a Tax Practitioner: SARS regulations around insurance and tax can be complex. A registered tax advisor can help ensure you claim all available deductions correctly.
- Review Policies Annually: Update your insurance portfolio regularly to ensure your cover aligns with your income, expenses, and current tax laws.
- Use Structuring Wisely: For high-net-worth individuals, structuring life insurance policies within a trust can reduce estate duty exposure.
Frequently Asked Questions: Tax and Insurance in South Africa
Q: Can I deduct life insurance premiums from my South African taxes?
A: No, life insurance premiums are generally not deductible. However, they may play a key role in estate planning.
Q: Are medical aid contributions tax-deductible?
A: Not exactly. Instead, you receive a Medical Tax Credit—a fixed monthly rebate that reduces your tax payable.
Q: Can I claim car insurance as a tax deduction?
A: Only if the vehicle is used for business purposes. You can claim the business-use portion of your vehicle insurance.
Q: Is business insurance tax-deductible in South Africa?
A: Yes. Business insurance premiums related to company operations are generally tax-deductible.
Final Thoughts
In South Africa, insurance isn't just about protection—it's a strategic tool for managing your tax liability, preserving wealth, and supporting long-term financial stability. Whether you’re reviewing your medical insurance, planning your estate, or choosing the right business insurance, it’s essential to understand how these choices affect your tax outcomes.
With the right advice and a well-structured insurance portfolio, you can reduce your tax bill while ensuring comprehensive protection for yourself, your family, or your business.