South Africa
Situated in the southern part of the African continent, the state of South Africa, today is one of the most promising and favorable offshore jurisdictions. Such a state of affairs is provided by a number of factors, the most significant of which are:
- According to the current legislation, non-resident companies operating outside the country are exempt from income tax.
- This state signed agreements with 45 countries (including Russia), which deal with double taxation.
- In the management of a company registered in the territory of South Africa, there may be nominal representatives. Due to this possibility, the real founders of the organization do not need to be physically present in the country.
- South Africa has a good infrastructure and a stable economy. In this country, which is considered the richest in the African continent, a large financial potential is concentrated, and good conditions are created for running a highly profitable business.
The main characteristics of companies registered in South Africa
Companies registered in the territory of this state have the following main characteristics:
- The most popular form of registered organizations is an analog of the Limited Liability Company.
- Requirements for the reporting procedure: non-residents who are owners of companies registered in South Africa, must keep accounts and publish it on the site of fiscal bodies once a year. At the same time, audit of such companies is not provided.
- Tax rates: for organizations whose director is a resident of the country, there is a tax rate (income tax) of 7%, for all other firms - 28%.
- The main business currency in the country is South African rand.
- The registration period of the organization is on the average about 4 days.
- A secretary must be present in the company's structure, in which only an individual can act.
- The authorized capital of the organization (PTY) must be paid at a rate of not less than 50%.
- In order to establish an organization in the territory of a given country, it is necessary to have at least one shareholder and one director.
- Companies registered in the territory of this state are not included in the "black list" on the territory of the Russian Federation.
- Such organizations are not allowed to issue bearer shares.
- From the risk of double taxation, firms in a given country are protected by relevant international agreements.
- The presence of the seal of the organization is a prerequisite for its registration and further activities.
When opening an offshore company in South Africa, it is necessary to take into account a number of nuances with which the specialists of our company are well acquainted. That is why, having decided to entrust such a responsible matter to our specialists, you can save not only time, but money, at the same time having at your disposal an organization that is open with due regard for all the requirements of local legislation.
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