Eternity Law International — Ready-made company in South Africa

Ready-made company in South Africa

Published:
April 6, 2020

What is included:

  • Ready-made company in South Africa,
  • Account at a local bank,
  • Legal address

Cost: on request.

In South Africa, companies are divided by law into commercial and non-profit companies. The company must be registered as an external company. The most common forms of doing business are private companies and branches.

A company is a resident if it is registered in South Africa or effectively operates within the country. Which means that if any company has its current directors and effective management are located within – such company would be considered as a resident.

Residents are taxed on worldwide income; non-residents are taxed on income from South African sources and on capital gains caused by real estate transactions from foreign sources and income from selling the assets of a permanent establishment.

Branches are generally taxed in the same way as permanent establishments.

Income tax is levied on profits, which consist of income from the activities of the company, passive income and capital gains. Expenses incurred whilst generating income can be excluded from taxable income. The rate is usually 28% for companies and affiliates.

Companies must file their tax returns annually during the period determined by the South African Revenue Service (SARS). Preliminary tax payments should be made twice a year based on the assessment of the final tax amount.

The first should be done in the first half of the year and the second one – in the second half of the year. If advance tax payments are less than the final tax liability, additional payment must be made within six months after the end of the tax year.

VAT is levied on the services provided and goods sold. The standard rate is 15%.

VAT registration is obligatory for companies that have a turnover of goods and services with a zero VAT rate of 1 million ZAR per year.

All countries that receive services or sell goods in South Africa register should register their VAT payer status when this threshold is exceeded. In particular, those companies which have activities that meet special regulation in South Africa.

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Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360