Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
South Africa is the most reliable and developed country in the Americas, which occupies the 2nd place in the world in terms of exports of citrus fruits, and has a leadership in the region in terms of sales of maize. It is export-import operations, create a predominant majority of the state budget, and so attract new international business in the country. But the African Republic is also a nonclassical offshore zone with a flexible system of taxation, which leads to the jurisdiction of new contractors to preserve assets and increase income.
Why is it worth to register a company in South Africa
- New opportunities for international companies. Many niches of business are still only at the stage of development in South Africa. Moreover, the amount of the payment population creates an additional demand market.
- The republic is the signatory of double taxation treaties with more than 80 jurisdictions. Thus, international conglomerates can choose the most advantageous system of fiscal contributions for the purpose of economy.
- There are no restrictions and duties on import and export of income from international activities in South Africa. The currency of transactions is also not limited.
- A wide range of schemes for business development. Export-import companies, international holdings and Trusts are recognized as preferential business conditions (if they are actually operating outside the country's borders).
- Low tax rates. For non-resident companies, whose activities are distributed within the Republic, but in the state of which there is a director with residence country, the corporate tax rate is 7%. For other non-resident companies without a director from South Africa the tax rate is 28-37,8%. The source tax is 15%. There are no capital gains taxes and stamp duties in the jurisdiction.
Offshore company registration in South Africa: general requirements
To open a new company will require at least one shareholder and director, regardless of residency (allowed to attract legal). In case Institute have no residence of the republic, the company must have a registration agent in the country only with residence of South Africa. At least once a year the company must hold meetings of shareholders, without requirements to the meeting place. The hiring of a resident secretary and the availability of local registration are mandatory.
Registration of the company in South Africa requires the introduction of the authorized capital of at least 100 thousand ZAR ($6 850), which are divided in the form of units between the founders. The statutory fund may be expressed in the form of intellectual property, monetary equivalent or property. Mandatory payment of all capital: 25% at the time of registration and 75% in the first month of operation. The issue of bearer shares is prohibited.
Minimum package of documents:
The memorandum and charter of association are obligatory for the company registration. Other documents vary depending on the form of business implementation.
It should be noted that all companies in South Africa are obliged to reduce accounting records, submit tax returns and undergo annual audits.