South Africa has an advanced infrastructure and a highly developed economy in no small part due to their exports of precious metals and natural resources. Combine this with a well-established legal, financial and communications sector and it’s easy to see why South Africa is popular with investors.
However, if you’re considering investing in South Africa, there are some things to know beforehand. To help make life easy, we’ve listed our top 10 things to think about when investing.
- There are two types of visas
If you’re not a citizen of South Africa, you’ll need to apply for a Visa. If you’re looking to invest in an established business or start-up where you will also be working, you’ll need a Business Visa.
If you’re planning on investing in a business without working there, you’ll need an Independent Financial Permit.
- You’ll have to wait before you can start investing
Once you’ve submitted your application, you’ll need to wait between 4 to 12 weeks for approval. This can take up to 9 months if you’ve applied for an Independent Financial Permit, however.
- You can start a new business or buy an existing one
With each type of Visa, you’ll be able to invest in a business or start one from nothing.
However, if you are only investing you don’t need a Visa. That’s why trading Forex has become popular with so many investors.
- Investment is encouraged
In South Africa, the government encourages investment. To help win over potential investors, the government have created a policy that makes investment easy.
That’s why so many businesses are investing, even during Covid.
- The possibilities are endless
Thanks to the huge number of both skilled and unskilled labour, South Africa has a great infrastructure making it ideal for investment.
- South Africa is part of BRICS
BRICS stands for Brazil, Russia, India, China, and South Africa. The premise behind the group is that they are countries identified by Goldman Sachs that would lead to the world’s economic growth. As South Africa is on that list, it’s definitely a worthwhile investment.
- South Africa and the US have preferential trade agreements
Investors will be happy to hear that the US and South Africa have preferential trade agreements. But the trade agreements don’t stop there. In fact, South Africa has close ties with many countries in Europe, making it a great place to do business.
- The economy is growing
South Africa’s economy keeps growing and it shows no signs of letting up. In fact, because of this linear growth, it’s increasingly popular with investors who are hoping to see a big return on investment. However, due to this growth curve, it’s best to act fast if you’re thinking about investing!
- South Africa’s culture is second-to-none
Referred to as the ‘rainbow nation’ South Africa’s culture is diverse. Thanks to this array of people from different walks of life, South Africa is a very accommodating place for foreigners.
With such a cross-section of different religions, ethnicities and languages, you will soon feel at home setting up a business in this country.
In conclusion
With so many places with potential for foreign investment, it can be hard to decide which to choose. Yet South Africa offers so many benefits. From a diverse culture to preferential trade rates and a growing economy – you can’t go far wrong investing in South Africa.
Author: Anees Saddique
Email id: aneesfa83@gmail.com
Bio: I am fully ambitious and highly dedicated to digital marketing, in particular content creation, link building, and content marketing. With ample experience (around 6 years) help businesses’ online presence to be more visible in search results as well as among the related audience. Join me on Twitter @built4kill2004
