South Africa Company Formation

South Africa company formation is a legitimate way for international business people to conduct business within the region and internationally. The following information will help you determine whether South Africa company formation is the optimum corporate structure to fulfill your international business objectives:
Advantages of South Africa Company Formation
1.	100% foreign ownership of a South African company is permitted. A minimum of one shareholder and one director is required, and they may be the same person. The shareholder and director need not be resident in South Africa.
2.	South Africa company formation is cost-effective because of low government registration fees and the absence of a minimum capital requirement. For more information refer to our South Africa Company Set Up page.
3.	A South Africa close corporation is attractive for small businesses because it is faster and easier to incorporate. It is not required to register Articles of Association, and is comprised of members rather than shareholders or directors. Furthermore, the financial statements of a close corporation do not undergo an annual audit.
4.	A South African company has access to double taxation agreements South Africa has signed with major trading nations, including Canada, France, Germany, India, Singapore, the UK and the US. For more information, refer to our Tax Planning in South Africa page.
5.	South Africa has a Free Trade Agreement with the European Union (EU) which provides 95% of South Africa’s exports with duty-free access to the EU in the industrial goods and agriculture sectors.
6.	Following South Africa company formation, Healy Consultants can open a corporate bank account with one of the world's leading retail banks, including HSBC, Standard Chartered and Citibank. For a wider overview of our services and capabilities, visit our Other services to support South Africa incorporation page.
Disadvantages of South Africa Company Formation
1.	A South African company is liable to a corporate tax on profits of 29% and capital gains tax of 15%.
2.	South Africa suffers from a negative international perception, reflected in its 43rd place ranking in the 2007 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians. Moreoverm, South Africa is negatively ranked as the world's 57th freest economy in the Heritage Organisation’s 2008 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets.
3.	A South African limited liability company is required to submit audited annual financial statements to the government.
4.	Following South Africa company formation, details of shareholders and directors are available for public viewing on the South African companies register.
5.	According to the World Bank's Doing Business 2008 Survey, South Africa is the world's 35th easiest place to do business. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business. It is also the world's 44th most competitive economy, according to the World Bank's Global Competitiveness Report 2007-2008. South Africa is also negatively perceived as the 43rd least corrupt country, according to the 2007 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians.
Other Information
Refer to the following links to read more information on South Africa company formation:

Contact Us
For more information on South Africa company formation, email email@healyconsultants.com or telephone us at (+65) 6735 0120.
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