How does one start an Insolvency Practice and what registrations are required?

How does one start an Insolvency Practice and what registrations are required?

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A legal or accountancy background is required

Insolvency procedures are complex and as a result, most insolvency practioners are lawyers and chartered accountants. Contact the Association of Insolvency Practitioners of Southern Africa (AIPSA) for more information with regard to registration and what is required to set up a business of this kind.

Qualifications

A Diploma course (AIPSA Diploma in Insolvency Law and Practice) is offered over one year on a part-time basis. These courses take place at The University of Johannesburg and at Pretoria University. However, the diploma is primarily aimed at persons in the legal profession, auditors, and insolvency practitioners, employees of credit institutions, bankers and government officials involved in insolvency administration.

Starting your own insolvency business

Prepare a business plan. This will be your roadmap that will direct you through all the processes needed to start a business. If you are not suitably qualified to operate as an insolvency practitioner, you would need to employ or partner with someone who is qualified.