Registering a company in South Africa

South Africa is one of the most developed regions in Africa, which is the optimal environment for investment. Firms in South Africa are established with the aim of increasing capital gains without the need to pay taxes.

Holdings and private firms in South Africa - a unique financial instrument

  The main companies that are established in the territory of the republic are holdings and PTY. In the first case, a businessman gets the opportunity to evade taxation, as well as ensure the export of profits with dividends without the need to pay mandatory state fees.

  Registration of a company in South Africa involves the introduction of authorized capital. His role can be played by money or property. The obligation to fully pay the share capital is provided in cases when it comes to registering an insurance company or a banking structure.

  You can open a company in South Africa subject to the following conditions:

  1. At the time of entering data about the enterprise in the register of companies, at least 1 shareholder, 1 secretary and 1 directormust be present in the state. It is possible to use a nominee service in order to ensure the confidentiality of information about the real founder.

  2. A non-resident of the country establishing a company is required to have a public officer in South Africa who takes measures to manage the sources of income of the enterprise.

  3. Once a year the shareholders' meeting should be held. They are allowed outside the country.

Offshore in South Africa: main characteristics of PTY companies

  PTY services are used by businessmen who use the scheme of export-import of goods when creating offshore companies. This organizational and legal form involves the use of a simplified taxation system. The income tax rate for a company established in the form of PTY in South Africa will be 28%. At the same time, if one of the directors of the company is a resident of the country, , then the entrepreneur gets the opportunity to use a preferential taxation system, which reduces the annual payment rate to 7%.

  You can open a company in South Africa in the form of a PTY by meeting the following requirements:

  • The minimum number of shareholders and directors is 1. At the same time, each of them must be an individual, regardless of his residency.

  • The maximum number of shareholders is up to 50.

  • The legal form of PTY assumes that the director is personally liable for the debts of his organization, as well as in relations with potential counterparties.

  • Such a company imposes a number of restrictions on the activities of its founders: the inability to participate in trading and on the stock exchange. The issue of bearer shares is also prohibited.

  Offshore companies in South Africa are distinguished by the obligation to submit annual tax and financial statements to the country's fiscal authorities. In addition, after its delivery, an independent auditor is appointed to verify the correctness of the information provided in the declaration. These reports are not published in public sources of information, which makes it possible to hide the company's activities in the movement of capital using offshore jurisdiction.

Registration of a company in South Africa in the form of PTY involves the mandatory payment of the authorized capital. For this legal form, the rate is $1,500 per shareholder. When using the company as part of the implementation of the export-import scheme, the owners of the enterprise will need to purchase an additional license. It allows you to certify goods imported into the country.

  Thus, South Africa is an offshore zone that allows you to do business as openly as possible. The minimum rate of tax on capital gains of the company, as well as the possibility of applying a preferential tax regime are the key conditions that distinguish this region from the variety of offshore zones of the classical type.

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