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Thread: New business startup help

  1. #1
    New Member
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    Jul 2012
    Dubai, UAE
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    New business startup help

    This is my first post here but have been lurking around for a while...

    I have a few questions and was hoping you guys and gals can help me out.

    I have already reserved a name with CIPC but would like to find out more about registering a private company:

    - I am presently living and working in Dubai, UAE earning a tax free salary, would by me registering a company in any way compromise my tax free status?
    - Is it possible to get an accountant to register the company for me with me being out of the country? Can the forms I need to sign all be done via email etc?
    - Do I need to be in the country to register at SARS office or for the business bank account? Will the accountant be able to do this on my behalf? Again, can this be done via emails or courier etc?
    - I will be the only director, it will be as a part time income with a really small profit/turnover initially. I will be selling tangeable goods, do I have to register for VAT? Am I allowed to sell goods without being VAT registered?
    - Is turnover tax the best solution since I will be having small profit initially?
    - If there is a minimal amount of profit/turnover (or even perhaps no transactions) how much do you envision the yearly costs of the company will be to keep it up and running? (Accounting fees for tax returns and any other possible fees)
    - If I register and decide later this is not working, is it easy to de-register the company and if so, again what are the costs involved here?
    - Do you recommend an accountant that can register the company and be there to answer any questions I have. I like to know I can fire off an email and get a helpful response as this is the first time I will be running my own company.
    - I believe CIPC will take some time to register the company which works fine for me as I only plan on returning to SA next year but want to get the ball rolling in the mean time.

    I would appreciate any answers or comments relating to above.

    Many Thanks

  2. #2
    Site Caretaker Dave A's Avatar
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    The company would be its own juristic person, and being registered and operating within SA will have to meet all the SA obligations much the same as any other SA company.

    However, it is likely to be difficult to do many "ordinary" things, such as open a bank account, when the only director is not available in SA.
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