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South Africa
South Africa Geography, Economy, and Culture
South Africa is a country located on the Southern Coast of the African continent, neighboring other countries including Zimbabwe and Namibia. It has the largest and most developed economy on the continent and is a country that is rich in natural resources. The national culture is a blend of Africa, European and Indian cultures reflecting the diverse population, immigration, and colonial history of the region. People in South Africa speak more than 10 languages, but English and Afrikaans are the most commonly used, especially in professional environments. South Africans practice many religions but Christianity, Islam, and Hinduism are the most dominant. South Africans are friendly and accommodating and will invite you to enjoy a braai, or roasted meat, which is a tradition with communities coming together to eat, drink and enjoy each other’s company. Current local political tensions are high with the current president being pressured to step down amid charges of corruption and abuse of power. (Kwintessential).
| 2021 | |
| March 21 | Human Rights Day |
| March 22 | Human Rights Day observed |
| April 2 | Good Friday |
| April 5 | Family Day |
| April 27 | Freedom Day |
| May 1 | Workers’ Day |
| June 16 | Youth Day |
| August 9 | National Women’s Day |
| September 24 | Heritage Day |
| December 16 | Day of Reconciliation |
| December 25 | Christmas Day |
| December 26 | Day of Goodwill |
| December 27 | Day of Goodwill observed |
- Sole proprietorship/Alleeneienaar
- Business trust/Trust
- Partnership/Vennootskap
- Company limited by guarantee
- Incorporated association not for gain/vereniging sonder winsoogmerk
- Companies having a share capital
- Private company/privaat maatskappy
- Section 53(b) company (unlimited liability company)
- Private company/privaat maatskappy
- Public company/publieke maatskappy (Ltd.)
- CC/BK (Close corporation/beslote korporasie)
- Corporate Tax: 28%
- Income Tax (Lowest Marginal Rate): 0%
- Income Tax (Highest Marginal Rate): 45%
- VAT/GST/Sales Tax: 15%
- African Bank Limited (Local Bank)
- Bidvest Bank (Local Bank)
- Capitec Bank (Local Bank)
- FirstRand Bank (Local Bank)
- Grindrod Bank (Local Bank)
- Imperial Bank South Africa (Local Bank)
- Investec (Local Bank)
- Nedbank (Local Bank)
- Sasfin Bank (Local Bank)
- Standard Bank (Local Bank)
- Teba Bank Limited (Local Bank)
- Absa Group (Foreign Bank)
- Habib Bank AG Zurich (Foreign Bank)
- HBL Pakistan (Foreign Bank)
- Bank of Baroda (Foreign Bank)
- Bank of China (Foreign Bank)
- Bank of Taiwan (Foreign Bank)
- Calyon (Foreign Bank)
- China Construction Bank Corporation (Foreign Bank)
- Citibank (Foreign Bank)
- Deutsche Bank (Foreign Bank)
- Hongkong and Shanghai Banking Corporation (Foreign Bank)
- JPMorgan Chase Bank (Foreign Bank)
- Royal Bank of Scotland (Foreign Bank)
- Société Générale (Foreign Bank)
- South African Bank of Athens (99.79% subsidiary of National Bank of Greece) (Foreign Bank)
- Standard Chartered Bank (Foreign Bank)
- State Bank of India (Foreign Bank)
- Investec (Private Bank)
- RMB Private Bank (Private Bank)
- Nedbank Private Wealth (Private Bank)
- Absa (Private Bank)
- Standard Bank (Private Bank)
Aadmi can support you with your expansion to South Africa. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.
