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Registrar
Organization name
Abbreviation
Country
South Sudan
Phone
About
South Sudan
Capital
Official languages
Population
Currency
ISO 4217
Juba
English, Arabic, Dinka, Nuer, Bari, Zande, Shilluk, and more.
12,040,000 (2020 estimate)
South Sudanese Pound
SSP
FAQ
FAQ for Company Formation in South Sudan
Q: What is the legal system of South Sudan?
South Sudan has a common law legal system based on English law.
Q: What are the types of companies that can be formed in South Sudan?
The types of companies that can be formed in South Sudan include private companies, public companies, and partnerships.
Q: What are the requirements for forming a private company in South Sudan?
The requirements for forming a private company in South Sudan include having at least two directors, at least one shareholder, a registered office, and a memorandum and articles of association.
Q: What is the minimum share capital required to form a private company in South Sudan?
There is no minimum share capital requirement to form a private company in South Sudan.
Q: What are the requirements for forming a public company in South Sudan?
The requirements for forming a public company in South Sudan include having at least three directors, at least seven shareholders, a registered office, and a memorandum and articles of association.
Q: What is the minimum share capital required to form a public company in South Sudan?
The minimum share capital required to form a public company in South Sudan is SSP 5,000,000.
Q: What are the requirements for forming a partnership in South Sudan?
The requirements for forming a partnership in South Sudan include having at least two partners, a registered office, and a partnership agreement.
Q: What are the steps involved in forming a company in South Sudan?
The steps involved in forming a company in South Sudan include reserving a company name, preparing the necessary documents, registering the company with the Registrar of Companies, and obtaining the necessary licenses and permits.
Q: What are the taxes that companies in South Sudan are required to pay?
Companies in South Sudan are required to pay corporate income tax, which is currently set at a rate of 20%.
Q: What is the process for registering a company for tax purposes in South Sudan?
The process for registering a company for tax purposes in South Sudan involves obtaining a tax identification number (TIN) from the South Sudan Revenue Authority (SSRA).
Q: What are the employment regulations in South Sudan?
Employment regulations in South Sudan are governed by the Labor Act, which sets out the rights and obligations of employers and employees in the country.
Economy
South Sudan's economy has been struggling in recent years due to civil war and political instability. According to the World Bank, the country's GDP per capita was estimated to be $1,092 in 2019, a decrease of 4.3% from 2018. The unemployment rate in South Sudan is estimated to be around 60%, with youth unemployment estimated to be even higher. Inflation has been a major issue, with the inflation rate reaching a peak of over 100% in 2018. The country's public debt is estimated to be around $3.5 billion, with external debt estimated to be around $2.2 billion. The country's main sources of income are oil, agriculture, and remittances from abroad. Oil accounts for around 90% of the country's exports, while agriculture accounts for around 10%. Remittances from abroad are estimated to be around $1.2 billion. Despite these challenges, the government is working to improve the economy and attract foreign investment.
Taxation
South Sudan is a country located in East-Central Africa. Here is a brief overview of the taxation system in South Sudan:
Corporate Taxation in South Sudan:
- Corporate tax rate is 15%
- Capital gains are taxed as normal income at the corporate tax rate
Personal Taxation in South Sudan:
- Personal income tax rates range from 0% to 25%, depending on income level
Tax Payment and Calendar:
- The tax year in South Sudan runs from January 1 to December 31.
- Tax returns must be filed by March 31 of the year following the tax year.
- Corporate income tax payments are due quarterly, on the 15th day of the month following the end of each quarter.
- Individual income tax payments are made on a monthly basis through employer withholdings, but self-employed individuals may need to make additional payments on an estimated basis.
Taxpayers in South Sudan are required to keep detailed records of their income and expenses, and may be subject to audits by the tax authorities. Failure to comply with tax laws can result in penalties and fines.
South Sudan is a relatively new country and its tax system is still evolving. As such, it is recommended to consult with a tax professional for personalized advice on tax matters in South Sudan. Additionally, tax incentives and exemptions may be available for businesses operating in certain sectors, such as agriculture or manufacturing, so it is important to research the specific requirements and regulations for each industry.
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