How To Open A Company In South Africa

Below is How To Open A Company In South Africa

When setting up a company you may want to consider these factors:

Business Factors Such as:– the industry and type of business– the nationality of the headquarters/individual(s) and– the presence of existing trade agreements or relationships generally most kinds of ‘typical’ business do not require special permissions. However certain kinds of businesses may require further permissions, licenses or other requirements. Often businesses that are importing and exporting foodstuff, industries with heavy infrastructure such as oil and gas, and professional services in areas such as finance and banking are subject to more involved requirements.

National Language Language is always important to keep in mind. South Africa has eleven official languages: Afrikaans, English, Ndebele, Sepedi, Sesotho, Seswati, Setswana, Tsonga, Venda, Xhosa, and Zulu. Afrikaans and English are common languages and English is the business language. However, while English is commonly used in public and commercial life, it is only the fifth most spoken-at-home language. For business purposes, English should be adequate.

Visas Foreign nationals who wish to establish their own business or a partnership in South Africa must, apart from having sufficient funds to support themselves and their family, be able to invest at least ZAR 2.5 million in the business.

The funds must originate overseas, be transferable to South Africa and belong to the applicant (i.e. emanate from the applicant’s own bank account). The business must also create jobs for South African citizens.

After six months to a year, a proof will have to be submitted that the business is employing South African citizens or permanent residents, excluding family members of the employer.

Applications for work permits for self-employment can only be lodged at the South African Consulate in the applicant’s country of origin.

How much does company registration cost in South Africa?

The cost: Each name reservation application costs R50. A company registration may vary between R125 and R475 (R125 for a private company, R475 for a non-profit company registered without members).

What is required to open a company in South Africa?

Proof of address not older than 3 months.

Latest 3-month bank statement.

Proof of Identification.

Directors’ proof of identification.

SARS document including income tax number.

How much does it cost to register a Pty Ltd in South Africa?

A company registration may vary between R125 and R475 (R125 for a private company, R475 for a non-profit company registered without members).

How do I start a Pty Ltd company in South Africa?

Step 1: Create an Account. Make your way onto the CIPC eServices website. …

Step 2: Name Your Business.

Step 3: Do Your Research – What Type Of Entity Do You Want to be Registered?

Step 4: Registering Your Company Online.

Step 5: The Final Step.