Browsing: Legal requirements to start a business in South Africa

South Africa is the second richest country in Africa. It’s predicted that the country’s Gross Domestic Product (GDP) will cross the US$345 billion mark by the end of 2022.

Its economy is diversified with a growing and sizable middle class. South Africa’s services and financial sectors have grown rapidly since apartheid.

  • South Africa is placed at position 84 out of 190 in the ease of doing business ranking by the World Bank
  • The South African government, through the online Bizportal platform, has made it easier to start a business in the country
  • Bizportal platform, which was launched in 2019, is a one-stop shop for entrepreneurs to reserve a company name, register a new company, income tax, and withholding taxes

In 2020, South Africa was placed at position 84 out of 190 in the ease of doing business ranking by the World Bank. The country’s cities are working on reforms to