South Africa client case studies
Multi-national commodities merchant conglomerate establishes South Africa company during COVID-19
- Our Client is a global commodities merchant firm, with more than two decades of experience in the energy and associated industries. Being a multi-national conglomerate with its headquarters based in the USA, and with numerous subsidiaries across the globe, our Client was looking to establish an intra-company IT support office.
- Africa was selected as the ideal geographical location for this support office thanks to its favourable time zone in relation to the majority of our Client’s other offices. South Africa was also selected as the specific location, given that it is one of Africa’s most technologically-advanced and developed countries.
- Kunal, Healy Consultants Group PLC’s CEO Americas & Africa, presented the South Africa business setup proposal to our Client, outlining the legal requirements and highlighting the expected timeframe for the engagement, from A to Z.
- Our Client’s legal team then i) agreed the corporate structure, including the use of nominee resident director services and settled the first instalment of our fees and ii) after signing a non-disclosure agreement, supplied KYC documents for the parent company and foreign directors.
- Healy Consultants Group PLC then prepared a detailed engagement project plan mapping out a step-by-step path to engagement completion.
- Shortly after our Client settled Healy Consultants Group PLC’s fees, we drafted the company incorporation documents and sent them to the Client for finalisation.
- Upon receiving the Client’s approval and signatures, we submitted the complete incorporation application to the Companies and Intellectual Property Commission (CIPC) in South Africa.
- Within two weeks we had the Client’s company registered, a Public Officer appointed and a legal registered address provided.
- As our Client intended to have employees based in South Africa, we were tasked with registering them for all mandatory payroll taxes. These include Pay As You Earn (PAYE), the Unemployment Insurance Fund (UIF) and Skills Development Levy (SDL).
- Applications for all these registrations were submitted to the Department of Labour (DoL) in South Africa.
- This engagement was on going during the global COVID-19 pandemic and the DoL was responsible for all the financial relief efforts to citizens in the country at this time. As such, we had a very difficult time completing these registrations for our Client. Our local representatives had to make multiple follow ups and physical visits to the DoL office in South Africa. After five months’ effort, we managed to register the Client’s company for PAYE, UIF and SDL.
Corporate bank account opening
- Our Client already had a corporate bank account with a leading international bank in the USA. To assist Healy Consultants Group PLC secure a corporate account for their South African subsidiary with the same international bank in South Africa, our Client contacted their bank’s relationship manager in the USA and requested that they provide an internal reference.
- Healy Consultants Group PLC discussed this with the international bank in South Africa, to obtain their due diligence requirements and account opening forms. Our team proceeded to compile a quality account opening application.
- Due to the COVID-19 pandemic, we were able to negotiate a special circumstance account opening – permitting account numbers to be released prior to the signed documents being received by the bank, with the mutually-agreed understanding that the same would be furnished when circumstances returned to normal.
- Healy Consultants Group PLC was engaged to provide public officer, legal registered office and accounting and tax support services for this client for a period of 12 months, as well as to handle company renewals for the foreseeable future.
South Africa healthcare consultancy renewed
- Our Client’s company was incorporated, with Healy Consultants Group PLC’s assistance, in March 2019 in South Africa. Epione Global Consulting Limited is a healthcare consulting firm with activities across Africa;
- The Client wished to renew their South Africa company licence, and approached our team to assist.
- One month before Epione Global Consulting Limited’s accounting year end Healy Consultants Group PLC’s Financial Controller Sharon prepared and e-mailed our Client an Engagement Advancement Proposal document, along with an invoice for our South Africa company renewal services;
- Healy Consultants Group PLC then prepared and e-mailed our Client a detailed Engagement Project Plan, mapping out a step-by-step strategy to engagement completion.
Renewal to engagement completion
- Once we had received confirmation of funds transfer received from Ms. Sharon, an ATD team member (Shaidah) was assigned to provide the renewal service, including filing our Client’s annual return;
- Shaidah e-mailed our Client i) draft financial statements for the South Africa company and ii) a draft annual statutory return for approval;
- Shaidah submitted an accurate and complete statutory annual tax filing to the South Africa Revenue Service (SARS) and annual return filing to Companies and Intellectual Property Commission (CIPC);
- After completing annual return filings to CIPC and tax filing to SARS, we sent a Summary of Obligations (SOO) to our Client, indicating that we had completed the filings and services requested by them. The SOO included a copy of the filed annual return and tax filing for our Client’s acknowledgement;
- Shaidah, and our Senior IT Specialist Venkat followed up with our Client to secure a professional reference for our firm.
US based construction project management company establishes a Pty. Ltd. in South Africa
Our Client is a US headquartered company specializes in delivery and project management of construction services. A South African legal entity is required specifically to fulfil the contractual requirements established by the US Government.
Having found Healy Consultants Group PLC business website through Google, our Client connected with Kunal Fabiani in March 2019 to determine if our Firm could assist with this urgent requirement and complete the engagement from end to end before May end. After expert analysis and deliberations with Kunal Fabiani, Healy Consultants Group’s South Africa business setup expert, our Client decided to proceed.
Our Client promptly provided us with the due diligence documents, agreed the corporate structure and requirements for resident Public Officer and settled our fees in full. Healy Consultants Group PLC prepared a detailed engagement project plan mapping out a step by step plan to engagement completion as well as a comprehensive business plan.
Within 3 days, Healy Consultants secured the preferred company name reservation from CIPC and emailed our client the prefilled company registration application forms to be signed and scans to be email returned to our Cape Town affiliate office.
On receipt of the signed scanned documents from our Client, Healy Consultants Group PLC submitted the complete quality Pty Ltd registration application with the CIPC. Within 1 week of the application submission, and earlier than expected the CIPC approved the registration of the new company and issued a digital copy of the CoR 14.3 certificate. Healy Consultants Group PLC immediately emailed our Client a scan copy of the same.
Our Client confirmed no bank account opening would be necessary in South Africa, consequently to complete the engagement, Healy Consultants Group PLC will courier the original corporate documents to our Client’s USA HQ office. As the entity is expected to remain inactive, if and when required, Healy Consultants Group PLC will further provide monthly accounting and tax reporting services to complete monthly and quarterly obligations with SARS.
British cryptocurrency expert establishes a crypto-ecosystem in South Africa
- Our client, a serial Startup Entrepreneur with several years innovating and founding scalable MVP’s in a diversified media and digital asset portfolio wished to establish a crypto-ecosystem in South Africa;
- Having found Healy Consultants Group PLC through Google, our Client sent us an email inquiry to get more information on how set up a company in South Africa and secure the requisite license to operate in the country;
- Following initial phone and skype call discussions, our Client agreed to our business setup fees, procedure and the timelines to complete the engagement;
- Our Client then settled the first instalment of our South Africa company setup fee to commence the engagement.
- Our Client provided Healy Consultants Group PLC compliance Department with scan copies of over 75% of the due diligence documents as per our Firm’s KYC process requirements;
- Healy Consultants Group PLC then prepared the draft corporate structure and emailed the same to our Client for confirmation. Our Client also confirmed they had their own South African national who would be appointed local director and public officer (which is a statutory requirement);
- Healy Consultants Group PLC prepared and emailed our Client a i) detailed project plan and ii) draft business plan for the proposed company;
- Our Client approved the corporate structure and confirmed their preferred company names for the new entity.
- Healy Consultants Group PLC reserved the first preferred company name with the Companies and Intellectual Property Commission (CIPC) and obtained the approval within 1 day;
- Thereafter, the Healy Consultants Group PLC Incorporation Team prepared all the company incorporation documents and sent the same to our Client for i) signature and ii) scan email-return;
- Upon receipt of the scan copies, Healy Consultants Group PLC submitted the complete company incorporation application package to CIPC for processing;
- Within 1 week of application submission, Healy Consultants Group PLC obtained the Registration Certificate and the Memorandum of Incorporation and emailed scan copies to our Client;
- Healy Consultants Group PLC then prepared the i) directors’ resolution ii) share certificates iii) public officer consent and emailed to our Client for signature and courier return;
- The Incorporation Team obtained the tax registration number from South African Revenue Service (SARS) and emailed the same to our Client.
Corporate bank account opening
- Upon a successful incorporation, Healy Consultants Group PLC Banking Team liaised with multiple South African banks to introduce our Client’s business and secure initially application pre-approval;
- Our Client confirmed their interest to proceed with a top South African bank for their corporate account. Healy Consultants Group PLC prepared the necessary bank forms and emailed the same to our Client for i) review, ii) signatures and iii) apostille;
- Because our Client was busy and could not get the bank forms certified, our Client advised that they would be traveling to South Africa for business conference and would thus sign the bank forms at the bank branch in Cape Town;
- Our Banking Team contacted the South African bank and our Client’s South Africa director and arranged a bank meeting on our Client’s preferred date and time;
- Healy Consultants Group PLC’ affiliate office in Cape Town prepared all the certified corporate documents and provided the same to our Client during their bank visit. Our Client signed all the necessary bank forms at the bank branch and submitted the same for account opening;
- Within 1 week of the bank visit, the Banking Team successfully secured a multi-currency corporate bank account for our Client’s new company. The bank directly emailed our Client the bank account numbers.
- To comply with the South Africa Government legal requirements, Healy Consultants Group PLC emailed our Client a sample South Africa company sales invoice for their convenience;
- During our Client’s visit to South Africa, Healy Consultants Group PLC’s affiliate office prepared all the certified corporate documents including certificate of incorporation, M&AA and passed the same to our Client. Original company documents are to be held by Healy Consultants Group PLC as per Government regulations.
French Health, Safety and Environment (HSE) consultant ventures into Africa
Our Client, based out of France, is an independent consultant, Safety and Environment engineer and founder of a company specialized in HSE (Health, Safety & Environment) consultancy for industrial and technological companies. He wished to establish a company and bank account in Africa in order to venture into the lucrative African HSE consultancy markets. Having found Healy Consultants Group PLC business website through Google, the Client approached Healy Consultants in October 2016 to determine the best country in Africa to register his business. After expert analysis and consultation with Healy Consultants’ Africa business setup experts, our Client decided to register his company in South Africa.
Healy Consultants prepared and emailed the Client an engagement advancement proposal for setting up a South Africa private limited company. Upon receipt of scan copies of the signed engagement letter and the required due diligence documents from Mr. Voisey a detailed engagement plan, a virtual office agreement and detailed business plan to facilitate bank account opening. The engagement plan included a detailed step-by-step engagement overview to ensure that there would be no surprises for our Client during the engagement. Our Client then settled Healy Consultants engagement fees in three instalments and confirmed his required corporate structure for the South African company, with himself acting as sole shareholder and Healy Consultants acting as the nominee resident director, public officer and South Africa resident company secretary.
Healy Consultants conducted a name search with the Companies and Intellectual Property Commission of South Africa (CIPC) and received an approval our Client for preferred company name ‘Epione Global Consulting Pty Ltd’. Healy Consultants then obtained the necessary company incorporation documents from the CIPC, prepared the memorandum of incorporation and a power of attorney and emailed the same to our Client for signature. Upon receipt of scans of the signed aforementioned documents, Healy Consultants submitted a complete quality company incorporation application to CIPC for consideration. Within 10 business days, Healy Consultants obtained full set of approved incorporation documents from the CIPC including a certificate of incorporation, and immediately forwarded the same to our Client. Within one day Healy Consultants prepared the Share Certificates, Directors Resolution and Inaugural Minutes and emailed the same to our Client for signature.
Corporate bank signatory change
With the company successfully incorporated and tax number received, Healy Consultants approached multiple South African banks to assist our Client secure a corporate bank account for the newly registered entity. Healy Consultants and our Client settled for a top South African bank as the preferred banking institution, thereafter Healy Consultants banking team obtained and prepared the corporate bank account opening form and emailed the same to the Client for signature. Further, the bank advised that the bank forms had to be notarized and apostilled being our Client was based outside of South Africa. Upon receipt of the signed, notarized and attested forms, Healy Consultants banking team submitted a quality corporate bank account application for consideration. Within 3 weeks thereafter, the multi-currency corporate bank account was approved without our Client having to travel to South Africa.
Upon receipt of all the original company incorporation documents from CIP and internet banking correspondence from the South African bank, Healy Consultants couriered the complete company kit to our Client’s preferred address in France.
UK based property investment and development company establishes a Pty. Ltd. in South Africa
Our Client specializes in both the commercial and residential development sectors owning and managing their own developments. They operate across the residential, commercial and hospitality sectors with offices in Birmingham and London. Our client also has offices in Dubai and Hong Kong and were looking to expand its South African client base.
Having found Healy Consultants Group PLC business website through Google, our Client rang us in May 2018 to determine if our Firm could assist the engagement and complete the engagement from end to end before September. After expert analysis and deliberations with Kunal Fabiani, Healy Consultants Group’s South Africa business setup expert, our Client decided to proceed.
Healy Consultants Group PLC prepared and emailed our Client an engagement advancement proposal including a formal invoice, engagement letter, due diligence checklist and a list of our existing and past clients for professional refence. Our Client promptly provided us with the due diligence documents and settled our fees in full. Thereafter, Healy Consultants Group PLC prepared a detailed engagement project plan mapping out a step by step plan to engagement completion as well as a quality business plan to assist with corporate bank account opening.
Our client had already reserved their preferred company name with another service provider, consequently this reservation had to be transferred to Healy Consultants South African corporate secretary before the company registration application could be submitted.
In the meantime, Healy Consultants Group PLC prepared the CIPC corporate registration forms and emailed the same to our Client for signature in the UK and courier return to Cape Town. Upon receipt of the original signed documents from our Client, Healy Consultants Group PLC submitted the complete quality Pty Ltd registration application with the CIPC.
Within 2 weeks of the application submission, the CIPC approved the registration of the new company and issued a digital copy of the CoR 14.3 certificate. Healy Consultants Group PLC immediately emailed our Client a scan copy of the same.
Corporate bank account opening
With the company registration now complete, Healy Consultants Group PLC approached a leading international bank in South Africa as preferred by our Client, to secure in writing their interest for our Client’s business activity and emailed the initial set of due diligence documents to the bank.
The bank in South Africa reverted requesting proof of our Client’s existing relationship with them globally and a formal reference letter from a their current relationship manager. Since our Client had recently established his presence in Hong Kong, Our client communicated with their RM to secure this requirement. In the meantime, as back up options, we recommended our Client consider opening a corporate account with a strong local bank in South Africa.
After 2 weeks of delay from the international bank in Hong Kong, our client was unable to secure a reference letter and consequently instructed Healy Consultants Group PLC to proceed to with an application with the local bank in South Africa. Within 3 days, junior Client Engagement Manager, Henry Beck, assisted our Client complete and submit an application for the local bank’s review.
Within 10 business days, the bank confirmed interest in on-boarding our Client and requested final forms to be signed, notarized by a Public Notary in the UK and couriered back to Cape Town.
Within 3 days upon receipt of the signed and notarized bank forms, the bank approved the multi-currency corporate bank account and emailed Healy Consultants Group PLC the bank account numbers. Within the following week, the local bank’s on-boarding officer scheduled a call with the bank signatory to conduct a brief KYC interview and to supply internet banking login details. Over the following days our client was to inject the minimum deposit to activate the account.
To complete the engagement, Healy Consultants Group PLC will courier the original corporate documents to our Client’s HQ office in UK. If required, Healy Consultants Group PLC will further provide monthly and quarterly accounting and tax services to support our Client until they hire their own local accountants.