A Guide for Foreign Business Owners in South Africa

Every country has a different set of guidelines for entrepreneurs looking to set up a new company. Like every other country, South Africa has its own set of official and unofficial rules that a foreign or local company must abide by. Here is all you need to know about setting up a business in South Africa and how to make the process efficient.

Initial Factors to Consider

There are certain factors you will need to consider ahead of starting the business.

1. Stakeholders in the company

Determine who will be the shareholders and stakeholders in the company. Would the company be registered in an individual owner’s name, or will there be multiple owners?

2. Management Policies

Determine what the managerial structure and hierarchy will look like in the company. The policies you devise have to align with South African business principles.

3. Liability Holders

The liability holders of a company have to be decided ahead of starting any company, big or small.

4. Company Succession

You have to disclose who will manage and own the company, followed by the current owners. A foreign entrepreneur has to put extra thought into deciding successors for their company if their next of kin lives in another country.

5. Income Tax Issues

Different countries have vastly different tax margins filing procedures for external and local businesses. With the help of Eyal Dulin’s corporate knowledge and expertise, you can better understand your company’s tax needs and avoid any mishaps.

The Business Structure

1. A Subsidiary of a Foreign Company

Your company could be the subsidiary or branch of an already established external company. To establish such a company, you will need to mold your company policies and procedures according to the South African business guideline.

2. A New Company

You could start a new company in South Africa with the help of Eyal Dulin’s business consultancy services. It can be a private or public listed company founded in accordance with South Africa’s local policies for new ventures.

3. A Partnership

To make matters more efficient, you can also open a company in partnership with an already established company in South Africa. With Eyal Dulin’s help, you can easily find business owners willing to form a coalition with foreign companies and investors.

Registration of a Foreign Company

You can open your own external company in South Africa by following these CIPC guidelines:

1. Form CoR20.1

Fill the form CoR20.1 with your company’s information and submit it to the CIPC.

2. Registration Fee

You will be liable to pay a registration fee of R400 to the CPIC for establishing a new external company.

3. Other Documents

You will have to submit your origin country’s “Memorandum of Incorporation” and “Registration Certificate” along with other required documents with translation in the South African official language.

Establish your company without any linguistic and cultural incongruities with Eyal I Dulin’s consultancy services specialized for foreign business owners in South Africa.