South Africa Company Formation

South Africa Company Formation
  • Very good steady jurisdiction and highly regarded reputation.
  • Time of South Africa company formation takes 1-2 DAYS.
  • Personal presence is not required

Tax Rates in South Africa

Corporation Tax in South Africa: Both resident and non-resident companies for tax years ending between 1 April 2018 and 31 March 2019 is a flat 28% on taxable income exceeding ZAR 550,000.

Income Tax in South Africa: 18% to 41% although the tax threshold of R78 150 (for persons below age 65) means that anyone earning less than this amount pays no income tax.

VAT Tax in South Africa: 15%

About South Africa

Country: South Africa

Capital: Pretoria

Continent: Africa

Language: South African

Currency: South African rand (ZAR)

Time Zones: GMT+2

Dial Code: +27

Abbreviations: SA

What we can do for your Company in South Africa

  • We do all paperwork on forming the company in South Africa
  • Formation is completely remote
  • Can act as Secretary or Treasury
  • Provide nominee Directors/Shareholders
  • Assist with opening a bank account
  • Registration for Taxes, VAT & EORI
  • Develop a website for your business
  • Create a logo of your brand
  • Provide with full company administration services
  • Arrange a mailing address for your business
  • Arrange a virtual office for your company
  • Telephone answering service
  • Book keeping, audit & reporting
  • Preparing and submitting VAT return
  • Dealing with local authority
  • Trademark registration

South Africa Company Formation. South Africa Shortened Company (Pty) Ltd.

Main Characteristics and the basic rules of Company registration in South Africa.

Taking your existing business to a foreign country can be ideal but comparing the countries and picking apt one for this need can be tough. If you want to expand business in a country with ample opportunities, South Africa can be good.  Since it became a democratic country in 1994, the economy of the country has grown and the overall atmosphere has become quiet suited for business expansion and growth. You may opt for investing in South Africa but seeking services of expert consultants can be helpful. Feel free to check out our South Africa Company Formation package.

The govt of South Africa has realized the importance of foreign investments to improve economic growth and also they have made some reforms. The relaxed norms have made the country more viable for foreign investors. In the last decade, several companies from European countries and the USA have invested in South Africa.

Since the economic changes have come relatively late into South Africa, the foreign investors still have plenty of grounds to explore. You can start a venture in the country that may have been successful in the western world but is absolutely new here. This may lure you to expand venture to South Africa. However, you will surely benefit by seeking our South Africa Company Formation package.

There are a few hiccups for foreign investors but those are not exactly deal breakers. The instances of crime and corruption are not on alarming scale any more. Entities like the World Bank and World Economic Forum have rated South Africa high for ease of doing business. Even the Johannesburg Stock Exchange is among top notch stock exchanges of the world. It is known for world class regulation and risk management. These factors have led to boost in investor confidence.

You will not face too many hassles when setting up any business in South Africa. The requirements and documentation required for such needs are not extensive. Getting permits for constructions and approvals for loan are not very lengthy. The sophisticated banking sector, robust transport network and high speed web access setup in the country make things viable for potential investors.

You will not face serious problems in setting up a venture in South Africa. However, it is still recommended that you seek services of veteran consultants. The BRIS group can make things simpler for your venture expansion in South Africa. Call us to know about our South Africa Company Formation package.

South Africa Company FormationFinancial Advantages
Taxation:Small business corporation where tax 10%
Double Taxation Treaty Access:Yes Treaty Access with many countries
South Africa Tax Information Exchange Agreements:Yes, South Africa signs Exchange Agreements
Account Filing Requirements:No Annual Financial Statements and Tax Return in SA for offshore companies operating only from tax-agreement countries. (Annual Financial Statements and Tax Return must be submitted in SA only for offshore companies operating from non-tax-agreement countries (and/or from South Africa).
Annual Return Filing Requirements:Yes annual return/ reporting requirements
Audit Requirements:Yes audit required.
South Africa Company FormationRegistration Requirements
Share Capital:ZAR 50,000 Minimum paid up share capital ZAR 1
Classes of Share Available for South Africa company formation:Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted.
Bearer Shares:Not Allowed
Registered Office Required:Yes, required and must be maintained in South Africa
Shareholders:Minimum number is one
Directors:Minimum number is one. Can be any nationality and need not be resident in South Africa. Corporate directors are allowed.
Your Company language:English
Name of your Company must be ended:Pty/Ltd,“(Proprietary) Limited”; Limited
Documents required for South Africa company formation:A certified copy of your passport or ID and proof of your residential address dated less than 3 months. Only needed for foreigners: Original Certified Copy of Passport of each foreign director need to be posted in duplicate(x2). Letter Stating of non SA citizen with signature (sample can be provided on request) in duplicate(x2).
South Africa Company FormationRestrictions
For South Africa company formation you cannot use words in your company names without justification:“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc
Restrictions on Trading:No trade restrictions
Not permitted without a licence:Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.
South Africa Company FormationConfidentiality and Security
Publicly Accessible Records:No public register of company officers (Directors, Shareholders, Secretary)
Nominee Shareholders and Nominee Directors:Yes, Allowed
Disclosure of Beneficial Ownership to Authorities:No
Meetings of Directors and Shareholders to be held:Anywhere
Stability:Very good steady jurisdiction and highly regarded reputation.
About South Africasouth africa company formation
Capital city:Pretoria, Cape Town, Bloemfontein
Region:A country on the southernmost tip of the African continent.
Political System:Parliamentary republic
Government:Constitutional Republic
Governing corporate legislation:Companies Act 2008
Type of Law:Common & Civil mixed
Currency:South African rand
Exchange Control:None.
Language of Legislation and Corporate Documents:English
Time Zone:GMT+2

This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.

BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.

Our team of consultants are here to take you through the process.