South Africa Non-Resident Company Formation

Description

Business Environment

The Republic of South Africa is a state in Southern Africa. It is a parliamentary republic comprising nine provinces. South Africa has a two-chamber parliament and an indirectly elected executive president. The National Assembly is elected by proportional representation; the National Council of Provinces consists of indirectly elected representatives of the provinces.

South Africa has a wealth of natural resources (including coal, platinum, gold, iron ore, manganese, nickel, uranium and chromium) and it has been enjoying increased attention from international exploration companies, particularly in the oil and gas sector. Nevertheless, the country has moved from an economy historically dominated by mining and agriculture to one where manufacturing dominates. Services are the most important contributor to GDP.

The country’s financial structure is sophisticated, with a large and active stock exchange. South Africa has a relatively open economy. Most exports to industrialized countries consist of primary and intermediate commodities. A large proportion of exports consist of unprocessed raw materials; the mining industry contributes the most to the country’s total exports. However, South Africa is increasingly adding value before exporting.

The country is a major exporter of coal, gold, diamonds, platinum, wool, sugar, manganese and chrome ores, as well as base minerals, such as iron ore. It also is an exporter of fruit and animal hides and skins. Exports of chemicals, metal products, machinery, transport equipment and manufactured goods have increased, particularly into the rest of Africa, in recent years.South Africa has sophisticated financial, legal and telecommunications sectors, and a number of global business process outsourcing (BPO) operations are located in the country. South Africa has a host of investment incentives and industrial financing mechanisms that are aimed at encouraging commercial activity, and its trade rules favor a further expansion in South Africa’s levels of international trade.

The special headquarter company (HQC) regime makes South Africa an attractive location for multinational companies wanting to invest into Africa.South Africa is a member of the Cairns Group, an informal association of 19 agriculture exporting members of the World Trade Organization (WTO) that supports free and fair trade in agricultural markets and the lowering of agricultural tariffs by developed countries. South Africa (along with Lesotho, Namibia and Swaziland) is part of the Common Monetary Area (CMA). It also is part of the Southern African Customs Union (SACU) that seeks to maintain the free interchange of goods between member countries and provides for a common external tariff for the common customs area; other members are Botswana, Lesotho, Namibia and Swaziland. South Africa also forms part of the BRICS group of countries with Brazil, Russia, India and China.

South Africa has concluded a number of trade agreements with other nations and regions. Although the country is not a member of the OECD, it is an enhanced engagement country that collaborates with the OECD on a variety of policy issues. (South Africa also has adopted the OECD transfer pricing guidelines).

OECD member countries

OECD member countries
Australia Hungary Norway
Austria Iceland Poland
Belgium Ireland Portugal
Canada Israel Slovakia
Chile Italy Slovenia
Czech Republic Japan Spain
Denmark Korea (ROK) Sweden
Estonia Luxembourg Switzerland
Finland Mexico Turkey
France Netherlands United Kingdom
Germany New Zealand United States
Greece
Enhanced engagement countries
Brazil India South Africa
China Indonesia
OECD accession candidate countries
Colombia Latvia Lithuania
Costa Rica

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South Africa Non-Resident Company Formation

Set up a South African Company

South Africa is ideally suited to serve as a base for investment into Africa and GIA is able to assist with the incorporation of your business in South Africa.

When considering the commencement of business or investment in South Africa, one needs to consider which vehicle will be best suited to the circumstances. Factors to be taken into account include the number of participants in the business, how the business will operate from a management and control point of view, achieving limited liability for participants, the requirement of perpetual succession and, importantly, income tax considerations.

SERVICE COST

From: $350.00

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  • *Choose your South African Business Registration Type:

    Choose the company type you want to setup

    Reset options

    REQUIRED SERVICES

    Country Authorised Representation & Public Officer Service

    Country Authorised Representation & Public Officer Service

    The person who will accept service on behalf of the external company. He will represent the foreign company at CIPC, SARS and Bank account opening.

    Further, a foreign company must have a South African resident authorised to accept service of documents on its behalf. It is possible to appoint a third party service provider to act as the person authorised to accept service.

    Public Officer:

    The Tax Administration Act 28 of 2011 stipulates that all companies are required to appoint a Public Officer. Where there is a change of Public Officer, the company must notify SARS within 14 days of the change being implemented. Failure to do so may result in hefty penalties.

    So, what is a public officer? A public officer serves as the representative taxpayer for a company, meaning that this person is, effectively, the face of the company for tax purposes. All actions carried out in this person’s capacity as a Public Officer are deemed to have been done by the company.

    Companies are required to appoint a Public Officer within one month after they begin to conduct business or acquire business premises in South Africa. Should your company fail to do this, the Commissioner will designate a director, member (in respect of close corporations) or the company secretary as Public Officer. In order to qualify as a Public Officer, one is required to be a natural person who is a South Africa resident.

    The appointment of a public officer, who must be a South African resident and have some knowledge of tax matters; his role is to ensure compliance of the local company with tax legislation and generally interact with the tax authorities on the local company’s behalf.


    • 500 $
      12-month representative without travel. Should there be any travel costs, client will be informed and will pay for it.

    *Registered Office Service (Sandton, Johannesburg, South Africa)

    Registered Office Service:

    • Privacy; your address will not appear on the records at CIPC.
    • Registered Sandton Office for one year; Your address will be Your Company Name.
    • Free Directors, shareholders and secretary service address for one year.
    • Free upload and secure storage of scanned official post (letters from CIPC, SARS, Bank etc.)
    • Free maintenance of Statutory Records.

    • 0 $

      I already have my own address in the Republic of South Africa. I will provide GIA onboard team the details upon requests.

    • 500 $
      Dedicated leased Office address for your business and also registrations at SARS, CIPC and Bank. You can use for your business meetings.
    • 150 $

      GIA will provide you an address to use for statutory purposes only. For the purpose of registration at CIPC only.

      ***Please note that GIA statutory office address cannot be use for Tax registration (SARS) and also to open a bank account. As part of the requirements for bank and SARS, a lease agreement on your name will be required.

    Non-Resident Bank Account in South Africa

    OFFSHORE BANK ACCOUNT

    Open a Personal Account in South Africa

    Our fee for processing your personal cheque bank application in expedited mode is US$499.99. Our fee covers the examination of your suitability, the preparation of the paperwork, the facilitation of the necessary documents, the completion and sending of your application for expedited approval. The process can take from 1 to 4 weeks.

    Refund Policy: If in any case your bank account application is rejected, we will gladly refund your order minus a processing fee of US$ 150. We have 99.99% successful rate as you do not need to worry about bank rejection.

    Open a Business Account in South Africa

    We will review your suitability, prepare documentation, facilitate the necessary paperwork, complete and submit your application for prompt approval.

    Note: We do not facilitate visa/work or travel permit requirements and these must be arranged by you.

    Refund Policy: If your request for a bank account is rejected, we will gladly refund your order in full except for the $499 processing fee. We have 99.99% successful rate as you do not need to worry about bank rejection.

    General Information:

    The banking sector comprises of a central bank (the South African Reserve Bank), a few large financially strong banks and investment institutions, and a number of smaller banks. In the last few years many foreign banks and investment institutions have set up operations in South Africa.

    The business of a bank is defined and regulated principally by the Banks Act, No 94 of 1990 (Banks Act). The Banks Act is primarily based on similar legislation in the United Kingdom, Australia and Canada. Although no formal agreements have been concluded towards a consistent international position in the area of banking regulation, there have been amendments to Exchange Control as well as to financial market legislation, making South Africa an attractive investment prospect.

    There are many reasons why having an international bank account makes perfect sense, such as asset protection, reduced political risk, and the freedom and ability to act globally when possible levies or capital control are in effect. At GIA, we have a long-standing relationship with one of the top international banks, and through this relationship, we can set up an international account for clients and/or their trusts at competitive rates. This provides you with global liquidity and access to international capital in a platform with exceptionally low interest rates. While we usually set these accounts up for investors and their trusts, should a client wish to have a personal bank account with a debit card, this too can be arranged. While there are excellent international account options to choose from, the process of selecting an international banking partner is still an important decision that should depend on the size of one’s portfolio, as well as one’s unique wants and needs.

    If you wish to see exceptional performance, simplify your investments and work with experts in said field. At GIA, we are not only experts in our field, but also see our clients as fellow investors. We are here for the long haul.


    • 499.99 $
      We are able to setup your non-residence bank account with FNB or Standard Bank without you requiring any residence permit in the Republic.
    • 1699.99 $
      We are able to setup your non-residence business bank account with FNB or Standard Bank without you requiring any business permit.

    Nominee Combo Services (Director & Shareholder) - *BEST BUY

    Nominee Directors

    Nominee Directors are appointed to represent the interests of another group or person. The ND does not have any role in operating the company but is appointed only to satisfy the statutory compliance requirements. Upon appointment of a nominee director, a Nominee Service Agreement will be signed between the client and the nominee. It will guarantee the client that the nominee can only act or sign documents upon the client's request and with the client's prior approval.

    Nominee Shareholder

    A nominee shareholder is someone that “lends his name” to you to act as the registered owner of shares in a company, when in truth, he only holds the shares for your benefit.


    • 700 $
      12-months Nominee Director and Nominee Shareholder per person contract service

    Nominee Director Services

    Nominee Directors

    Nominee Directors are appointed to represent the interests of another group or person. The ND does not have any role in operating the company but is appointed only to satisfy the statutory compliance requirements. Upon appointment of a nominee director, a Nominee Service Agreement will be signed between the client and the nominee. It will guarantee the client that the nominee can only act or sign documents upon the client's request and with the client's prior approval.


    • 500 $
      12-months Nominee Director per person contract service

    Nominee Shareholder(s) Services

    Nominee Shareholder

    A nominee shareholder is someone that “lends his name” to you to act as the registered owner of shares in a company, when in truth, he only holds the shares for your benefit.


    • 500 $
      12-months Nominee Shareholder per person contract service

    Notarisation and Apostille on Documents

    A notarization means that a notary will check all the documents we issue for your company and that he will confirm their authenticity.

    An apostille is an internationally recognized certification and legalization of the corporate documents by the Government of the jurisdiction where your company has been incorporated. We highly recommend to choose this option if you consider opening a bank account or if you need your corporate documents for any legal proceedings (such as concluding a contract, for example).


    • 220 $

    Power(s) of Attorney

    A Power of Attorney (PoA) is a legal document giving one person used by natural persons or legal entities, through our company formation  specialist can set up company, open corporate bank account, register the company as a taxpayer and so on...

    If you have selected the « Nominee Director » option, a power of attorney can be issued in your favour in order to be able to act on behalf of the company.


    • 100 $

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