| |
International Business Companies
(offshore IBCs) |
Local Corporations
(on shore) |
Trusts |
| Company law |
International Business Companies Act 10 of 1996 – amendments in 1997, 2000 and 2001 |
Companies Act 21 of 1994 – amendments in 1996 and 2001 |
International Exempt Trust Act 10 of 1997; Offshore Banking Act 8 of 1996, chapter 7, 18 , 56 & 64; 1877 Trustee Act; English Common Law, |
| Company purpose |
Free |
Free |
Trust |
| Founders |
Minimum 1 |
Minimum 1 |
Minimum 1 |
| Capital requirements |
No |
No |
- |
| Liability |
Limited |
Limited |
- |
| Costs of incorporation |
Approx USD1,200.00 (government and professional fees) |
Approx USD1,000.00 (government and professional fees) |
Government and professional fees |
| Incorporation |
Memorandum and Articles of Association; entry in IBC registry |
Memorandum and Articles of Association; Notice of Directors; Notice of Address; Statutory Declaration by an Attorney at Law and entry in commercial registry |
Notice of Name and registered office; Certificate from attorney-at-law; entry on resister |
| Company name |
Must have ‘Limited’, ‘Sociedad Anonima’ ‘Societe Anonymme” ‘Corporation’ or ‘Incorporated – or an abbreviation of any of the above after name. ltd, inc etc, few restrictions exist. |
The word ‘limited’, ‘corporation’, ‘incorporated’ (or the abbreviation ltd., corp., inc. must be part of every name. Few restrictions concerning name exist. |
Free |
| Formalities |
Low |
Moderate |
Moderate |
| Credit / funds |
Possible |
Possible |
- |
| Accounting obligation |
No |
Yes |
- |
| Management |
Minimum 1 |
Minimum 1 |
Minimum 1 Trustee |
| Nationality |
Free |
Free |
Free |
| Image |
Very Good |
Very Good |
- |
| Taxation |
No |
30% |
No |
