Law rules over all companies

South Africa has a well-developed and formally regulated regime of company law.

South Africa has a well-developed and formally regulated regime of company law.

All South African companies and close corporations are governed by the Companies Act 61 of 1973, which is based on English company law.

The act controls the formation, conduct and liquidation of all companies.

The act makes no distinction between locally owned or foreign-owned companies. Private or public, all are subject to similar regulation.

Several types of businesses can be established; which type you choose depends on factors such as the need and expense of limited liability or tax transparency.

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