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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. Roxanna NaidooGlobal Partner and Client Engagement READ MORE Featured in However, this decision demands careful consideration and necessitates a meticulously planned

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 Roxanna NaidooGlobal Partner and Client Engagement Khutso MakgokaLegal Consultant: Expatriate Tax, Admitted Attorney Featured in Legislative and procedural changes over the years

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

Demystifying the Cease Tax Residency Process – Back to Basics South African expatriates are often faced with a challenging decision – whether or not to cease their tax residency in South Africa (SA). However, this process has evolved drastically over the last few years, causing confusion for expatriates and tax professionals alike. Many remain unaware

SARS Continues to Place South African Expats at a Crossroads In recent years, the South African Revenue Service (SARS) and National Treasury have implemented several legislative and policy changes that have paved the way to enforcing the tax obligations of South Africans living and working abroad. Lovemore NdlovuHead of SARB Engagement and Expatriate Compliance Thomas