Starting a business in South Africa: Legal requirements and the Companies Act
Starting a business takes careful planning and involves compliance with certain legal requirements. It is important to understand the relevant regulations and legal requirements to be complied with, so you can make sure you do what is best for the business you are starting. The Companies Act is the primary legislation governing a company and […]
Offshore companies and doing business in South Africa – A companies act perspective
According to the most recent statistics released by the South African Revenue Service, South Africa remains a net importer of goods and services. Put differently, one could say that South Africans are more often clients in cross-border transactions than they would be the service provider. Many of our clients operate in this space, including foreign […]
Assets held as security by SARS when a company is being liquidated
The KwaZulu-Natal High Court previously granted an application brought by Van der Merwe and others (acting as liquidators) requiring the Commissioner for the South African Revenue Service to release certain assets held by him under his control in a customs warehouse. The assets in question were being held by the Commissioner as security for payment […]
Removing directors of a company
The Companies Act, 71 of 2008, requires that the business and affairs of any company be managed by or under the direction of its board, which has the authority to exercise all of the powers and perform any of the functions of the company, except to the extent that the Companies Act or the company’s […]
How to rescue your business
Is your company experiencing financial strain? Are creditors breathing down your neck? Business Rescue proceedings may be a solution to your problems. Business Rescue is an approach that is governed by the Companies Act 71 of 2008 (“the new Companies Act”) with the aim of assisting companies which are experiencing financial strain and are unable […]