Hi, I have been reading this forum for a while now and have learned a great deal from all the memberís knowledge and experience. I joined a while back but this is my first post here and I hope some of you can share some advice with me.
I am looking to start a company that would hold business interests in other companies as well as create new businesses under its name. I am however not living in South Africa. I work in Asia and am on an annual contract. I visit SA in Feb for 3 weeks and would like to register a holding company and also register an online retail business under that holding company. I want to sort out all the registration issues first before embarking on my fantasies about leaving the career route.
I have read the past posts on this forum and have found 2 businesses that help average South Africans with registration.
Fact Business Corporation https://www.factcorp.co.za/
Shelf Company Warehouse http://www.pty-online.co.za/
1. Are they both trustworthy and legitimate? Anyone have experiences with these two? When I register a holdings company and an online business under it, do they require different sets of documents?
2. I have no office for my company and online business as I work in Asia, can I register them using a residential address?I also donít have a residential address under my name. When I am in SA, I live with my sister in Cape Town. My details for SARS and my Capitec bank account have been registered with the Cape Town address. The house is under my sisterís name. My SIM card had to be FICA registered under my sister too.
3. Any problems that may arise from a lack of Ďidentityí in SA with regards to company registration?I have been in Asia for 3 years now (3 annual contracts). I have tax clearance and I donít pay tax in SA but have a registered tax number. I will open a business account with FNB after the completion of my company registration.
4. Am I correct in that I need to open two bank accounts, one for the holdings company and one for the online business?Again, I have to use the address that my sister lives in.
5. Thank you for reading this far, any advice and experience that you care to share with me with regards to this topic?Will be greatly appreciated.
My online business will be handled by my sister in SA while I am in Asia. I just want to register everything properly from the get go and not worry about it later. I also understand and have budgeted for the fees required to setting up and maintaining two Pty Ltd as compared to going the Sole Proprietorship route, as well as all the banking fees.
Thank you for reading.