A foreign trust must firstly be registered with the Master of the High Court, and letters of authorisation issued to the trustees, before land can be registered into the name of such trust (See RCR24 of 2009).
In the same vein before a land can be registered into the name of a foreign trust, the necessary registration and letters of authorization must be issued (See section 8 of the Trust Property Control Act 57 of 1988 read with RCR17 of 2016).
What is the position with foreign companies?
Section 23 of the Companies Act 71 0f 2008 provides that an external company (a foreign company carrying on business which includes non-profit activities within the republic of South Africa) must register with the commission within 20 business days after it begins to conduct business (or non-profit activities) in the RSA
A foreign company must be regarded as conducting business in RSA if that foreign company is:
1. is a party to one or more employment contracts within the Republic;
2. subject to subsection (section 2A), is engaging in a course of conduct, or has engaged in a course or pattern of activities within the Republic over a period of at least six months, such as would lead a person to reasonably conclude that the company intended to continually engage in business or non-profit activities within the Republic
Click here to read more
Back to Top