The Beginner’s Guide To Company Registration In South Africa

Lots of people have realized the potential of South Africa, but the main question is, how do you start a business in South Africa? Definitely, it can be quite complicated and may require lawyers but recent changes have brought about different ways of doing things. The majority of the transaction can now be done electronically and be done within minutes.

If you have been in South Africa, then you know of the horrendous traffic at major intersections that teems with the burst of activities of commerce and business. South Africa incorporates a significant market demand and its investment in its economic surroundings is encouraging.

Lots of experts see South Africa as a model for other African countries to follow, and that is not without any merit, as the new leadership is receptive and has dismantled its old economic platform in lieu of an efficient urbanized infrastructure of transport and communication. Business infrastructure also appears to take off with the growth of banks and other financial support structures. Processing has also seen an increase especially at the communications and technology sector, which may one day be able to compete internationally.

The formation of new structures is particularly conducive to new businesses, specifically CIPC which has made company registrations much easier and eliminates much of the old, bureaucratic from the past. This particular move has made many aspiring business owners happy, as the platform makes it easy even for foreigners to invest in South Africa. Intellectual property rights protection can also be much improved increasing the confidence of business owner in the government.

To start a business, it would be prudent to start with a much larger capital than what was previously suggested. Definitely you can start with R500, but that would be for processing the papers only, and that would only get you as far as a PTY registration. For a realistic startup, you should have at least a few thousands Rands ready to invest. Such things as marketing and forming your sales materials that leads to your first sale will require a good amount of money.

Business name or trademarks are valid for 10 years and each succeeding renewals will also net another 10 years. For patents, it is entirely another story as the holder of patent must pay a yearly fee in order to maintain rights to it. South Africa is certainly signatory to the Berne copyright convention which permits licensing to business brands and trademarks.

Foreigners who wish to do business in South Africa must be able to invest R2.5 Million, as required by law and the money should originate from the person’s own country and made transferrable to South Africa. Additionally, the business owner should employ South African residents and needs documentation at the end of six months as proof.

Growabusiness South Africa simplifies the process of company registration, and specifically PTY registration. Under the old system, registering a CC was quite a complex procedure, but with CC registration now a thing of the past, were able to deliver an even more efficient, professional and cost-effective process for company registration in South Africa.

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