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Non-Residency and assets – what you need to know Taking the leap and ceasing your tax residency is a big step for many South Africans, who are already under the strains of their physical move abroad. This stress often leaves one in a period of limbo wondering about their assets and what happens to these […]

Navigating Financial Emigration: A Tax-Centric Approach for High-Net-Worth South Africans Abroad In the shimmering tapestry of expatriate life, High-Net-Worth South Africans find themselves crafting stories of success on foreign soils. Amidst the allure of international opportunities, an often overlooked chapter in their expatriate journey involves the intricate dance with tax implications rather than the broader

Navigating the Return: Key Considerations for Expatriates Heading Back to South Africa In the dynamic landscape of 2024, a growing number of South Africans who once left our local shores are now contemplating a return to their roots. The world has evolved significantly over the past few years, prompting many to reassess their choices. Michelle

Exit with Confidence: A Roadmap and Financial Strategy When Emigrating In the wake of the global skills shortage, South Africans are finding themselves in high demand globally, prompting many to contemplate a life abroad. READ MORE Featured in However, this decision demands careful consideration and necessitates a meticulously planned roadmap and exit strategy. As a

Exchange Control and Tax Residency in South Africa The South African Reserve Bank (SARB), in collaboration with various financial institutions, maintains a comprehensive record of the residency status of all South African banking customers. Lovemore NdlovuHead of SARB Engagement and Expatriate Compliance READ MORE Featured in This practice is integral to their financial surveillance and

Navigating Tax Residency: A Guide for South African Expats For South Africans who have ceased their tax residency, unlocking one’s retirement savings becomes a nuanced journey filled with complexity and uncertainty. READ MORE Khutso MakgokaLegal Consultant: Expatriate Tax, Admitted Attorney Featured in Legislative and procedural changes over the years have left expats puzzled about the

Further Changes to the Approval for International Transfer Process On 24 April 2023, the South African Revenue Service (SARS) released new enhancements to the Tax Compliance Status (TCS) process, with immediate effect. The changes made by SARS mainly concerned the approvals required by individuals when transferring funds out of South Africa. Now, SARS has made

Do my retirement funds come with me when I leave South Africa? For those looking to move from South Africa, a burning question often remains: what happens to their hard-earned retirement funds? How, and when, will they be able to withdraw their retirement interests in South Africa; and of course, where will these be taxed?

The 3 year lock up rule misconception – What South Africans abroad need to know Expatriates are often under the impression that they need to wait three years before they can formalise their non-residency status. This can be due to various reasons such as misunderstanding the legislative amendments, advisors wanting to monetize on the withdrawal

From departure to encashment: the two-pot retirement system The much anticipated two-pot retirement system, introduced as a “knight in shining armour” for South Africans, has received a new implementation date of March 2024. Expats are cautioned to pay attention to the effects that this will have on the encashment of their retirement savings. READ MORE