Investment framework and opportunities in South Africa

Companies have to appoint a South African resident as the company's legal representative. Any acquisition or disposal by a non-resident entity or person of shares in a South African resident, unlisted company requires approval by the Financial Surveillance Department of the South African Reserve Bank, or one of its Authorised Dealers, under the Exchange Control Regulations. Moreover, foreign companies have to appoint an auditor.

The investor will be required to appoint a consultant, auditor, and/or legal advisor to register a company on his/her behalf. The company should be registered within 21 days and must also register with the tax office.

InvestSA, the agency responsible for the promotion of foreign investment in the country, provides advice on where to locate and facilitates regulatory steps such as licensing, company registration and work permits, as well as providing details of financial institutions and funding opportunities.