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What is regarded as a Closed Corporation business in South Africa?

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Immigration, Visa

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  1. Immigration South Africa on Jun 27, 2011

    A Closed Corporation business is controlled by a few people who own all the voting stock and interest in the company.  A family corporation is one common example of a Closed Corporation, although partnerships in which two or three business partners have complete control of the company would also qualify as a Closed Corporation. Many small businesses choose to operate with this model. 

    In order to legally operate a Closed Corporation company in South Africa by a foreigner, the relevant business visa will need to be obtained before this company can be established. The decision to make a company a Closed Corporation is dependant on the applicant.

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