How To Define Representative Office Of A Foreign Bank In South Africa In Enterprise Structure
Last updated on MARCH 15, 2018
Applies to:Oracle Fusion Global Human Resources Cloud Service - Version 126.96.36.199.0 and later
Oracle Fusion Global Human Resources - Version 188.8.131.52.0 and later
Information in this document applies to any platform.
How to define representative office of a foreign bank in South Africa in enterprise structure
Client has 2 legal entities in Mauritius and 1 representative office in South Africa.
According the legislation of South Africa a representative office of a foreign bank, registered in terms of the Banks Act is able to promote and assist the business of the relevant foreign bank and doesn't have to register as a company.
How should we set up organizational structure in this case? Client does not have legal entity in SA but has employees in this representative office who should be managed under SA legislation rules.
We proposed to create Legal Reporting Unit linked to the main Legal Entity in Mauritius, but it is unavailable to define Legal Reporting Unit on Work relationship or Assignment level, so when we hire employee from SA in LE in Mauritius this employee starts to be under Mauritius Legislative Data Group and Jurisdiction.
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