New PPRA Registration Requirements for Firms with Branches and Subsidiaries

The Property Practitioners Regulatory Authority (PPRA) has introduced updated registration guidelines for business property practitioners (firms) that operate multiple branches or subsidiaries. These new rules ensure that firms maintain compliance based on how their branches or subsidiaries are structured, particularly in cases where they operate under different trading names.

Key Changes:

1. Same Trading Name, Different Locations

   Firms with multiple branches operating under the same trading name but at different addresses will have all locations recorded in PPRA's system. These branches can use the same Fidelity Fund Certificate (FFC), without the need for separate registrations.

2. Different Trading Names

   If a firm operates branches or subsidiaries under different or partially different trading names, each branch must register separately and obtain its own FFC. A separate administration fee will apply for each branch.

   • All branches will be registered under the same company name but with unique trading names (e.g., ABC (PTY) LTD trading as Property Fourways, Property Edenvale, etc.).

   • Directors of the main firm must also be registered for the branches, though the branch employees can vary.

3. Unified FFC for Same Name Branches

If all branches operate under the same trading name (e.g., ABC (PTY) LTD trading as Property Joburg), they can share a single FFC across all locations. The firm will simply need to provide the additional branch addresses on their registration form.

These changes emphasise the need for proper registration and ongoing compliance. The directors of the main firm are responsible for ensuring adherence to PPRA regulations across all branches.

For further information, visit the PPRA website and download the Notice here.