Company Registration Africa

Company Formation in Africa - How to Register a Company

The African economy is thriving as we see more and more opportunities for businesses to develop and/or increase their revenue after company registration. South Africa is, of course, the standout. With a nominal gross domestic product of ~$3 trillion, experts predict that in the following decades, astonishing progress will be witnessed all throughout the continent. In an opinion piece from CNN, it was predicted that in thirty years, African GDP is going to exceed $30 trillion. The economy of South Africa might be only the 3rd largest in the continent, but is also the most industrially developed, technologically advanced, and diversified one. Let us discuss the main reasons to consider private company registration in South Africa.

Key Advantages of a Company Registration - South Africa

1. Seamless, swift incorporation
2. The most diversified economy on the continent
3. Business-friendly environment
4. Multilingual workforce that’s fluent in English
5. Easy to open a business account
6. Immediate issuing of the registration certificate

Important information about starting your business in Africa/new company registration South Africa.

Part I: Taxes

In South Africa, the corporate income tax rate applicable for corporate revenue of both resident and non-resident businesses is a flat 28%.  Recently, it was announced that the rate is going to be changed, which is an important piece of info for all people interested in online company registration South Africa. The value will decrease by one percent, with the change coming into effect for taxpayers on or after 04/01/2022.

Part II: Schedule

It only takes four to seven business days to set up a company in South Africa. Thanks to our experienced team being able to pivot and circumvent any possible challenges that arise during private company registration in South Africa, the process itself is as simple as can be. With LegalBison, all you need are six simple steps:

1. Initial meeting
2. Invoice Payment for the services
3. Power of Attorney
4. Paperwork preparations
5. Notarization if necessary
6. Immediate issuing of the registration certificate

Part III: VAT 

As a company owner that went through the process of South Africa company registration, you might be obligated to charge VAT to your clients on the sales price of goods and/or services. Nevertheless, not all firms are mandated to charge VAT, which creates an interesting prerequisite for your business to become more lucrative. After undergoing new company registration South Africa, all you need is someone who’s more familiar with the finer details of the local market. Someone like LegalBison – we provide personalized solutions, so we’ll help you figure out if you need to register for VAT.

Part IV: Questions to Ask Yourself when registering your company in South Africa

The most important questions that you should ask yourself before South Africa company registration are the following:

• What’s more suitable for you: a ready-made company in South Africa or a brand-new business?
• Are you willing to travel to South Africa for incorporation?
• Do you want to operate your establishment remotely (online company registration South Africa)?
• What’s your business strategy for the first year?

Depending on the answers, our experts will be able to conjure up a custom-made solution that will become the foundation of your successful business.