Foreigners who want to start a business in South Africa, or wish to invest in an existing one should apply for a Business Permit at a South African embassy (if applying from abroad) or in the Department of Home Affairs (in case they apply in South Africa).
To get a permit and start a business in South Africa you need to have R2.5 million. The amount for foreign investors is the same and the R2.5 million should be a part of the intended value of the company of interest.
If your business is in a sector of national interest and you don’t have the needed capital, the amount can be reduced.
To get a business permit you need:
- To complete the BI-947 form if you are personally applying, or the BI-29 form, in case you are sending a representative.
- A passport with an expiry date at least 30 days after the end of your visit.
- Medical report
- A police report from all the countries you have lived longer than 1 year
- A business plan
- Proof that you will be permanently employing at least 5 South African residents
- For investors- a written partner agreements with details of the partners/directors and their residential status in the Republic
- Proof of application with the South African Revenue Service
- Certified paper from an accountant which shows that you have at least R2.5 million.
South Africa’s Department of Trade and Industry (DTI) offers funding for companies in numerous industries, if the company fulfills all the requirements.
For a full list of the funding programs and requirements visit the official DTI website.