Global Business Services Incentive
The Global Business Services Incentive provides an enabling environment for potential investors coupled with a deeper domain skills advantage, significant cost savings among other global locations, and providing a world-class experience for those who set up their operations in South Africa.
Secured contract
3 year fixed contract required at application
Incentive
Three differential incentive for non complex, complex and highly complex jobs
BBBEE
At least compliance level 8
Minimum wage
Imposes a minimum wage requirement of R5000pm OR R4000pm for “inclusively hired employees
Benefit
Slight differential on the base incentive offered at each level as well as expected job creation
Bonus incentive ranges between 20%-30% for both incentive however there is a slight differential on the job creation above minimum thresholds
Concurrent benefit
Projects receiving BPS may not also benefit from BPS,
BBSDP,
Jobs Fund
The Department of Trade and Industry (the DTI) will determine whether a project is eligible taking the following into account:
- For projects performing mostly ( ≥ 50 %) non-complex jobs (Tier 1), the project must create a minimum of 50 new offshore jobs within three years from start of operation and employ at least 80 % youth as part of the approved project;
- For projects performing mostly ( ≥ 50 %) complex and highly complex jobs (Tier 2 and 3) combined, the project must create a minimum of 30 new jobs within three years from start of operation and employ at least 60 % youth as part of the approved project;
- The project must commence with operations and employment not later than six months from the date of incentive grant approval. Failure to reach this target date will lead to the cancellation or disqualification of the application, thus requiring the applicant to submit a revised application to reapply;
- In case of a joint venture arrangement, at least one of the parties must be registered in South Africa as a legal entity; and
- A pilot project that will result in an investment and creation of jobs within that six-month trial period.
Should you be interested in applying for the business grant, Dream Team Capital can assist you. Contact us today for professional assistance in streamlining your application for the Global Business Services Incentive.