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Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in South Africa
A leading market in Africa, anyone with a viable business plan would be interested in a company incorporate in South Africa. First, South Africa is one of the easiest places to do business in the world. It has an ever-growing tourism, service, hospitality and manufacturing sectors. Adding on that, there is a large supply of natural resources in the country, and a skilled workforce is abundant.
Hence, having a company in South Africa means welcoming a lot of opportunities, and helping you with that, 3E Accounting Indonesia offers its services in South Africa. Owing to the complicated company registration process in South Africa, 3E Accounting, one of the leading world’s corporate service provider helps investors register their company in South Africa. We have partnered with leading tax and finance experts from South Africa, who are going to register our clients business companies for them in the minimum time and cost.
The Process of Company Incorporate in South Africa
Here is the process through which investors can incorporate their company in South Africa.
First, Get A Business Visa
Getting a business visa in South Africa isn’t a tough task if you know what you are doing. First, you will need to have a scalable business plan and should be able to prove that your business idea is going to help South Africa economy significantly. You should be willing to invest at least ZAR 5 million and of course, should be able to show you have enough funds to support yourself in the country. Adding on to that, your staff should contain at least 60% locals, and you can’t invest in ‘undesirable businesses.’
You can’t operate in these business fields:
- The adult/ exotic entertainment industry
- Security Industry
- Importing second-hand motors to the country with the purpose of exporting it back to other countries
Choose the Type of Company
The next step is choosing the right type of company. Foreigners have three choices of companies in South Africa. They are a company (public or private), Branch office and Representative Office.
After that, Choose the Name for Your Company
You also have the option of not having a company name. In this case, the registration number is used to denote the company. However, if you do choose a company name, your name should not be similar to other companies, and should not be vulgar. Also, to avoid matching company names, you will need to submit at least four alternatives names.
Choose a registered Address
The registered address of your company should be a physical address and not a PO Box Number.
You will need the following files while registering a company in South Africa:
- Memorandum of Incorporation
- Details of the owner
- The number of directors and their personal information
- Details about the share capital
- Notice of Incorporation
- Type of your company
- Date of incorporation
- Financial year-end
- Details about the Registered address
- Number of directors
- Information and alternatives regarding company name
How Much Time Does it Take for the Process?
It all depends on how accurate your documents are, and how much understanding you have about the company incorporation process. Work with 3E Accounting Indonesia, and we will register your business in a few weeks, which is the minimum time. Contact us now.