The complete step-by-step guide to registering a company and setting up a startup in South Africa - from choosing a business structure to opening a business bank account and registering for tax.
Choose your business structure. Most startups register a Private Company (Pty Ltd) - it limits personal liability and is required by most investors and enterprise clients. A Sole Proprietorship is simpler but offers no liability protection.
Register your company with the Companies and Intellectual Property Commission (CIPC) at cipc.co.za. You can register online in 1-5 business days. You'll need: proposed company name, ID documents for all directors, and a registered address.
Cost: R125 to reserve a company name + R175 for company registration = R300 total. One of the cheapest formal company registrations in Africa.
After CIPC registration, obtain your company registration certificate (CoR14.3). You'll need this for all subsequent registrations.
Register for a tax number with SARS (South African Revenue Service) at sars.gov.za. Use eFiling to register your company as a taxpayer. Your Income Tax Reference Number will be issued within 21 days.
Register for VAT if your annual turnover exceeds R1M (mandatory) or voluntarily if over R50K. VAT registration is done through SARS eFiling.
Open a business bank account. Standard Bank, FNB, and Nedbank Business are the most popular for startups. Capitec Business is a newer, lower-fee option. You'll need: CoR14.3, SARS tax number, proof of address, and ID for all directors.
Register for UIF (Unemployment Insurance Fund) with the Department of Labour if you have employees. Monthly contributions are 2% of each employee's remuneration (1% employer + 1% employee).
Register your intellectual property. File trademarks with CIPC's IP division for around R590 per class. Protect your brand name and logo before you launch publicly.
Set up your accounting from day one. Xero and Sage are the most popular accounting platforms in South Africa. Most SA accountants specialise in one of these two.
Accept mobile money, cards, and online payments in Ghana with a properly tested settlement flow.
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