New company registration in order to use this step by step guide, you should have registered a customer code and have adequate credit in your customer code. Doing business in south africa is an annual publication. Funding for various types of businesses is available through the industrial development corporation or the department of trade and industrys government investment incentives. Preshipment inspection not required cma cgm trained staff members are available to assist customers in all aspects of the documentary requirements of the trade to south africa. The south africa government services website has information on registering a business in all official languages. In south africa, we have a democratic system of government. Sole proprietor this is the simplest business structure and the easiest to set up. Doing business in south africa guide 2nd edition by. The main objective of this doing business in south africa guide is to provide you with basic knowledge about south africa. These include business name protection, tax incentives, financial assistance and business compliance.
When you create a business plan, youll need to summarise your business as it is now, and map your vision for how it will be in the future. Using our world wide network if you are a south african company and looking for a business partner abroad. This video shows you how to register your business in south africa step by step the easy way. Youll need a website, so check for suitable domain names and. All businesses and intellectual property rights in south africa must be registered with the. The basics of registering a new small business sme south africa. Investors can employ a variety of legal business structures in south africa, depending on the nature of the operation and the related tax and legal considerations. Tertiary industries comprise trade, transport, finance and other business services, and community, social and personal services. Whether you are seeking a business visa, or an endorsement to a visa you will have to select the right business structure.
Doing business 2017 is the 14th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. Chanel venter department of business management johan fourie department of economics, stellenbosch university leslie van rooi, lloyd blake and jd labuschagne fredrik van zyl slabbert institute for student leadership development course description. If you wish to run a franchise business, you would register a private company. Register a company using an enterprise number as the name. Business brokers can help reduce the risk of buying a bad business search for business brokers on a directory like ananzi za. How to start a business in south africa procedures to begin business starting a business in south africa is very easy. This guide is published for general information purposes and is not intended to constitute legal advice. Please contact your local agency office for advice. Need to know how to start a company registration, then simply follow the online business registrations tab and refer to the confirmation email send to you upon submission.
Mq was established in 2008 and is based in cape town, south africa. The second subnational report of the doing business in south africa series. You will have the option to open or save the pdf document with all the. No permits are required for foreigners apart from business and work permits and locals to begin a business. South africa is the most sophisticated and developed economy in africa and has some highclass companies in finance, real estate and business services, manufacturing and wholesale and retail trade. Starting a business checklist small business guide xero za. A guide to doing business in south africa baker mckenzie.
Ease of doing business in south africa averaged 56. How to set up a company in south africa business entities and registration procedures the most common business entities in south africa are. Normally a range of administrative procedures have to be complied with. How to register your small business in south africa htxt. No person shall use the word bank in a business name unless. South africas climate ranges from mediterranean in the southwestern corner of south africa to temperate in the interior and subtropical in the northeast. South africa as well as other parts of sub sahara africa. In most cases, an sme can be either a sole proprietorship or a partnership. Company will only be added to the company registration queue after the proposed name has been approved. There are five types of companies that you can register. He has played a consulting role to many senior business executives and his strong business and financial analysis skills has enabled business executives to make complex and important investment, business restructuringand economic developmentdecisions. When registering an external company, the following documentation must be lodged with the. Key facts on south africa 3 king report and code of corporate governance 20 national credit act, 34 of 2005 27 overview 2 south african development community sadc 7 standard for automatic exchange of financial account information in tax matters 6 statutory business registrations in south africa 15 taxation in south africa 41. When doing business in south africa, it is advisable to contact a business association to get relevant information about the local economic situation of your specific business sector and gain access to various networking events and training seminars and conferences.
Ipsu summer school doing business in southern africa. We can vote for people or parties that will represent our views when laws are made. A private school could be registered as a private company or nonprofit company, depending on its objectives. This report summarizes the indicators of the ease of doing business in africa. Cipc does not charge business owners to search for patented information as long as they have registered on the main portal to access cipcs online services. Sep 25, 20 johannesburg the realisation that owning your own business cannot be accomplished without first registering your business can be daunting, says leigh livanos, head of startup business at standard bank jse. Contact small business associations or small business development centres. Registering a company name checklist standard bank bizconnect. The companies act 2008 specifies the following business structures. A low one time fee being able to register your company in our. A company is a legal person which has capacity and powers to act on its own.
The most commonly adopted forms of doing business by foreign investors are private companies and branches. Having access to a worldwide network of reliable business partners. A company can now be registered with its registration number as its name. An analysis of business interventions and their effect on the perceived success of south african small and medium enterprises by edmund john ferreira submitted in accordance with the requirements for the degree of doctor of commerce in the subject business management at the university of south africa promoters. How to register a business in south africa in 2020 briefly sa. From there you will need to carry out a name search with the cipc pdf to be sure that no other company bears the trademark or name. South africa regulation overview waiver control a waiver is not necessary.
The februarymarch issue of south africas favourite digital magazine for business inspiration, advice and opportunities is. If you would prefer to speak to one of our team regarding your individual circumstances you can call us on any of. Seda will give you all the information you need to start a business, including how to write a business plan, and once you have a business, to grow it. Trading names south africa businesstradedefensive name register your ta name businesstradedefensive name renew ta name every 2 years annual financial statements tax returns for your business bee affidavit we prepare it for turnover less than r10m per year csd register on sa gov central supplier database for tenders.
Regardless of whether you are a making profit or the size of your company, there are advantages to registering your business in south africa. Click on this option if you want to apply for a name as part of the process. South african business funding directory 2016 2017. Main business refers to the business that has the highest turnover. If you are registering the company on behalf of another person your client it is not. Your preferred company structure is the first consideration you need to make when you want to register a new business at the cipc.
You will need a total of r175 to complete everything and have your id and proof of address ready in. Profit companies may be incorporated under different types of companies. Cultural and religious influence in business south africa is a heterogeneous country in terms of culture and religion and is known for its diversity of people. This means that we all can contribute to making the law for our country. The south african government has been encouraging its citizens to create their. How to register your business in south africa, very easy.
Your business magazine inspiration, advice, news and. The small enterprise development agency seda provides business development and support services for small enterprises. For entrepreneurs seeking to establish and run a business in south africa, below we provide you south african business permit information pertaining to the criteria and application process. Entrepreneurs have two avenues open when it comes to registering a business. South africa as well asother partsof sub sahara africa. Jun 19, 2014 business credit checks in south africa benefits for your business. Ipsu summer school doing business in southern africa june july 2014 coordinators. Using our expertise and knowledge of the market in south africa if you look for a company in south africa. How to set up a company in south africa business entities and. We answer all your other frequently asked questions faqs about registering a new business. Registering a company name checklist standard bank.
Raw materials refer to products that are changed in some way before reselling, e. Registering and selling the warehouse after its completion. Figure starting a business in south africa and comparator economies. South africa is ranked 84 among 190 economies in the ease of doing business, according to the latest world bank annual ratings. Doing business in south africa cliffe dekker hofmeyr. The rank of south africa deteriorated to 84 in 2019 from 82 in 2018. The small business sector in south africa is a critical part of the national economy with the governments national development plan 2030 ndp 2030 looking to smes to be major sources of. Yes, if your business is in johannesburg, pretoria, cape town, durban, port elizabeth or any other city or town we can assist you.
A sole proprietor sole trader trades under their own name, so to get the company going you simply must inform the tax authorities of the source of extra income. Economies are ranked on their ease of doing business. Since the ease of doing business varies across countries, industries, business sizes, and business types and so as to allow cross country comparison, a number of assumptions were made while constructing each of the indicators of ease of doing business. Febmarch digital issue of your business magazine out now. If one of your plans is registering a business in south africa, especially a small business in the form of a smallmedium enterprise sme or a startup, you will not have to register the entity like a company. The companies act of 2008 relays the appropriate types of business structures in south africa pertaining to companies. You can register a company as a nonprofit company or profit company with the companies and intellectual property commission cipc.
Registering a company name checklist all businesses and intellectual property rights in south africa must be registered with the companies and intellectual property commission cipc. You need to consider which company structure will work best for your business s setup and goals. He has played a consulting role to many senior business executives and his strong business and financial analysis skills has enabled business executives to make complex and important investment, business. South africas business environment is challenging but still one of the best in the developing world. The company must be registered with the south african registrar of companies in pretoria. Consult the step by step guide for customer registration for assistance in registering a customer code. For example, you will need to file an annual return and pay an annual fee. Business credit checks in south africa home icheck. The registration of companies has been simplified under the new companies act and the reservation of a company name in terms of the old companies act is no. A stepbystep guide to registering your small business. If you wish to register a church, you would register a nonprofit company. Starting your own business south african government. However, it brings with it certain responsibilities, irrespective of whether the business is trading. The south african government has been encouraging its citizens to create their own businesses in an effort to address the countrys high.