Company Formation in South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by 2,798 kilometers (1,739 mi) of coastline of Southern Africa stretching along the South Atlantic and Indian Oceans, to the north by the neighboring countries of Namibia, Botswana, and Zimbabwe and to the east and northeast by Mozambique and Swaziland and it surrounds the kingdom of Lesotho.
South Africa is the largest country in Southern Africa and the 25th-largest country in the world by land area and, with close to 56 million people, is the world’s 24th-most populous nation. It is the southernmost country on the mainland of the Old World or the Eastern Hemisphere. About 80 percent of South Africans are of Sub-Saharan African ancestry, divided among a variety of ethnic groups speaking different African languages, nine of which have official status. The remaining population consists of Africa’s largest communities of European (White), Asian (Indian), and multiracial ancestry.
The South Africa today is one of the most sophisticated and promising emerging markets globally and it is the economic powerhouse of Africa. One of the significant reasons for South Africa becoming one of the most popular trade and investment destinations in the world is due to the country guaranteeing that it can meet specific trade and investment requirements of prospective investors.
South Africa Limited Liability Companies are not considered as offshore companies as there is no offshore legislation in South Africa.
South Africa has a host of investment incentives and industrial financing interventions that are aimed at encouraging commercial activity and its trade rules favor a further expansion in the country’s growing levels of international trade.
Advantages of company incorporation in South Africa:
Summary of South Africa Limited Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Private Limited Company – Also known as Pty.Ltd. |
| Corporate Legislation | Companies Act 71 of 2008 |
| Taxation | Standard Corporation Tax – 28% Tax on Dividends – 15% Standard VAT rate – 15%, for sales to local customers. |
| Currency | South African Rand (ZAR) |
| Paid up capital requirement | Paid up capital required only 1 ZAR |
| Time zone | UTC +2 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No |
| Location of Meetings | Anywhere |
| Shareholders can be 100% foreign | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Optional (can provided by Consil Formation) |
| Local Secretary required | No |
| Registered office required | Yes, local |
| Share Capital | |
| Standard Currency | ZAR. The Share Capital can be also in US$ |
| Standard Authorized Capital | 1 ZAR |
| Minimum paid up capital | 1 ZAR |
| Accounting Requirements | |
| Preparation of accounts | Required (can be completed by Consil Formation) |
| Requirement for audit | Yes (can be completed by Consil Formation) |
| Accounts public accessible | Yes |
| Requirement to file Annual Return | Yes (can be completed by Consil Formation) |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your South Africa Limited Company
- Document Notarization per document: € 500
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.