With a progressive and rapidly expanding economy, South Africa is becoming a destination, not only for individuals who want to enjoy some of the many benefits of living in this great country, but also for companies that may have their headquarters in other parts the world, but feel that it is time to establish an office in South Africa. There are even those that feel that the time is right to set up their own company here, taking advantage of the rising standard of living. Of the many cities available, many people choose Cape Town, partly due to its indescribable natural beauty, temperate climate and wide choice of activities. Any foreigner has the possibility of working in South Africa and every company has the opportunity to set up a local office, but they are definitely rules that need to be followed and should be closely examined ahead of time.
Come to Work in Cape Town
If you are an individual that has either a solid work history or graduated from an excellent school, there is the opportunity for you to work in Cape Town. The rules for getting a work permit are the same here as in the rest of South Africa, as the policies are regulated by the central government. One of the important things to remember is that if you’re applying for a particular job, you have to be reasonably sure that it is not a position that could be filled by a South African native. Additionally, you do not necessarily have to have a job offer in hand from a South African company to apply for a work permit. If you have exceptional skills, the kind that are difficult to find, that may be sufficient to apply. Also, if you are being transferred to South Africa by a company that already does business in the country, the paperwork and process is much simpler than if you are applying for a work permit by yourself. Perhaps it goes without saying that spouses of individuals that are granted work permits do not have to apply for any special permit themselves.
Setting up a Company
Perhaps you’re an entrepreneur at heart and want to set up your own company in Cape Town. In many ways, it makes perfect sense. The cost of living in Cape Town is approximately a third of what it is in some major metropolitan cities, such as New York or London. If you are planning on setting up a company, you really have three different choices. If you’re going to be the sole proprietor, then the legal entity known as the Sole Proprietor (straightforward enough) makes the most sense. From a legal and taxation standpoint, it is the simplest type of company you can choose. A second, but more difficult to establish type of company is called the Close Corporation. Here, there can be from 1 to 10 owners, referred to as members. There are not many available permits for this type of company however, so if they are going to be several owners involved, perhaps the third choice is probably the simplest. This is called the Private Company (Pty Limited). Here, individual owners are referred to as shareholders, but therecan be no more than 50. Their duties and obligations to each other are spelled out in an individual shareholder agreement. Each one of these different types of companies has their own legal requirements and taxation formulas. Ultimately, it really depends on what type of business you plan on having, what type of commercial activity will be engaged in and how many partners you will have, if any. That will help determine exactly what type of corporate structure you should set up.
Staying Comfortable in Cape Town
Whether you are coming for a job interview, involved in setting up a business, or just visiting this exciting city, you definitely want to be able to stay somewhere that is both affordable and provides all of the modern amenities that you would expect. Fortunately, there are cheap hotels in Cape Town that will provide you with everything you need without stressing your budget or your wallet.
Image courtesy of: freedigitalphotos.net Salvatore Vuono