Foreign principal means registered importer, registered exporter or owner of goods not located in the Republic of South Africa.
Agent means a person located in the Republic of South Africa who represents in the Republic an importer, exporter or owner of goods not located in the Republic.
Registration of foreign principals in South Africa as foreign importers and/or foreign exporters
Foreign principals not incorporated in South Africa or not having an established place of business in South Africa (i.e. companies not located in South Africa) wishing to register as foreign importer or foreign exporter can register as foreign principal with the South African Revenue Service (SARS). Simultaneously, they must nominate a ‘registered agent’ located in South Africa. In other words, foreign importers and exporters must be represented by a South African ‘registered agent’. ABC kings is a registered agent representing foreign importers and foreign exporters in South Africa. Please contact us for further details.
What is the difference between a South African importer and exporter and a Foreign Importer and Exporter?
A South African importer and/or exporter may submit their own customs clearances or use the services of a customs broker. A foreign importer/exporter must appoint an ‘agent’. The agent can submit customs clearances on behalf of the foreign principal in complying with all obligations imposed by the Customs acts.
Benefits of registering as foreign exporter and foreign importer in South Africa and using ABC kings (as registered agent) to represent your company
- As a foreign company you don’t get bogged down with legislative requirements in South Africa. You “outsource” the function to ABC kings.
- ABC kings (as registered agent) can take care of your consignment stock. You can move your stock-holding closer to your market without transferring ownership.
- You take care of marketing, direct selling, customer relationship management or supplier relationship management from your country. You use ABC kings to act as your ears, eyes, voice, hands and feet in South Africa.
- You invoice your customers directly from your country and receive payment directly into your account.
- Cross trade shipments become easier to manage.
- You can manage the risk of non-payments or transfer of ownership of goods more effectively.
- We can act as your virtual office.