South Aftrica

1. INTRODUCTION
- South Africa is an independent country situated in the Southern Region of Africa.

2. ADVANTAGES
- Tax Agreements with some 50 countries worldwide.
- Running your Corporation / Company in such a country means that you pay no (zero) South African tax; you report for tax in the country concerned.

3. DISADVANTAGES
- Running your Close Corporation (CC) / Company in a country that does not have a tax agreement with South Africa, you only pay South African tax on profits: 30% less the tax payable in that country.
Examples:
If your CC/Company pays 20% tax on profits in your country, you pay 10% tax in South Africa.
If your CC/Company pays 30% tax on profits in your country, you pay no tax in South Africa.

4. COMPANY NAME
- Sensitive words "Holdings", "Group", "Investments", etc.
- Must end with "CC" (Corporation) or "(Pty) Ltd" (Company).

5. SHAREHOLDERS
- Corporation: min. 1 individual
- Company: min. 1 corporate or individual

6. DIRECTORS, SECRETARY
- min. 1 individual director/member.
- secretary: informal appointment; can be SA non-resident.

7. ACCOUNTS
- No annual audited accounts in SA for tax-agreement countries.
- Annual audited accounts must be filed in SA only for non-tax-agreement countries.

8. SHARE CAPITAL
- 1 SA Rand (paid up) = R1.00

9. TIME TO SUPPLY
- from ready-made list - 5 days for courier.
- with new name - up to 4 weeks.