So you have decided to conduct business in South Africa. Good choice! Being the gateway to Africa, South Africa is one of the most promising emerging markets in the world. Its world class infrastructure, access to markets and developing economy makes it a sought after business destination.
Its location makes it extremely attractive as it lies at the foot of Africa providing access to opportunities that exist throughout the continent. A continent that boasts a population count of over 1bn.
The normal process involved in starting a business in South Africa includes:
- Registering the Business at the Companies and Intellectual Property Commission (CIPC)
- Opening a Bank Account ( Please speak to us about the Banks that NWI works with )
- Registering for income tax, VAT, and employee withholding tax (PAYE and SITE) at the South African Revenue Service (SARS)
- Registering for unemployment insurance at the Department of Labour
- Registering with the Commissioner in deference to the Compensation for Occupational Injuries and Diseases Act
If you want to conduct your business in South Africa and obtain residency on this basis, you will need a Business Permit. New World Immigration can assist with all of the above.