There are no legal obligations when you are planning to become self-employed, but you will need to decide which trading format will suit you best.
The trading format you choose will have some registration requirements as well as various laws you need to adhere to.
You can either choose between being a sole proprietor or you can incorporate a company.
Choosing either of these options will require you to register for :
- a tax number at the South African Revenue Services (SARS);
- companies and intellectual property commission (CIPC);
- commissioner for income dispensation (COID);
- unemployment insurance fund (UIF);
- pay-as-your-earn (PAYE); and
- value added tax (VAT).
SOURCES :
Cronje & Cronje
Business Partners
