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Checklist of things to consider when emigrating

By October 5, 2022FinGlobal

Checklist of things to consider when emigrating

October 5, 2022

Checklist-of-things-to-consider-when-emigrating

Do you have itchy feet? Are you ready to travel the globe or settle in another country for a while or the rest of your life? While South Africa may be where your heart and family are, sometimes the call of distant shores and opportunities await. And during these times, you start to think about emigrating from South Africa. But, do you know what to do when emigrating from South Africa and in what order? There are many things to consider when emigrating, and we’re here to simplify the process for you. So, without much further ado, let’s delve into the checklist of things you need to do before you can pack your bags and get out of the country!

What to do when emigrating from South Africa

Are you wondering what to do when emigrating from South Africa? Wonder no more! Here’s the ultimate emigration checklist.

Make arrangements with your debit orders

When you move abroad, things are going to change. And one of the biggest changes you’ll experience will be in terms of your finances. You’ll still have your regular expenses to think of, but your banking details will undoubtedly change when you close down your South African bank accounts. Think of the likes of Netflix, Spotify, and perhaps even online software accounts that support your trade. All of these debits come from your bank account monthly and are important things to consider when emigrating. So before emigrating from South Africa, take the time to scrutinise your bank statements. Make a list of all of your debit orders and start making arrangements to change/move them.

Close accounts and get confirmation thereof

There are sure to be some local accounts you will no longer need now that you’re emigrating from South Africa. Think of clothing accounts such as Mr Price, Truworths, Foschini, and similar. Then there are accounts such as Yuppie Chef, @Home, municipal services, internet services, and more. Make a list of all the accounts you will no longer need and meticulously close them. Ask for confirmation from each place to ensure that the accounts are closed.

Confirm access to your financial accounts

If you plan to keep financial accounts open such as investments, credit cards etc., you will need to ensure that you will have suitable access to them while you are abroad. Remember that when signing into mobile apps or making payments, you may be asked for an OTP (one-time pin) or similar. These codes are usually sent to your mobile phone or email address. Will you access the same number and emails while you’re abroad? Double-check these details and ensure you have access to all of your financial accounts while out of the country.

Organise your important documents

You should keep several documents in a safe place at all times. Most people store these documents in a safe or protected filing cabinet. But, of course, when moving abroad, you will need to relocate these documents too, and then there’s a risk of these documents going missing or getting damaged.

Here’s a quick look at the documents you should gather and organise:

  • Birth certificate
  • Passport
  • South African green bar-coded identity document or Smart identity card
  • Driver’s licence
  • Marriage certificate
  • Proof of citizenship
  • Proof of residence
  • Proof of employment (for your new job abroad)
  • Medical records: dental and vaccination records
  • Insurance policies
  • Investment records
  • Copy of your living will and testament

It’s always a good idea to arrange official copies of your documents and keep digital versions of them too.

Familiarise yourself with the new country’s rules

The country you are emigrating from South Africa to is bound to have its own set of rules and regulations. Make sure that you’re familiar with these to avoid disappointment and delays on arrival. You should look into information regarding:

  • Permits
  • Visas
  • Requirements for relocating pets
  • Taxes on shipped items
  • Vaccination and health requirements
  • Insurance

Consult with a financial emigration expert

When emigrating from South Africa, your finances (and tax) will no longer be SA bound. How do you handle your tax? Do you need to contact SARS and tell them you’re leaving the country? How do you emigrate your finances? This is where the advice and guidance of a professional financial emigration expert come in handy. Take the time to discuss your upcoming emigration and gather information and advice that will make your relocation easier and, of course, handle it perfectly within the law.

Expert advice for SA expats at FinGlobal

At FinGlobal, you can expect a service that is nothing short of exceptional. We provide advice and guidance in simple-to-understand terms. We can simplify financial emigration from South Africa regardless of how complex your case may seem. We tailor-make financial emigration packages that meet the specific needs of our customers, including FOREX, tax emigration, retirement annuities, pensions, and much more. If you’re in the market for advice and guidance regarding your emigration, FinGlobal is the team for you. With over a decade of experience in the industry, our team will provide you with the best advice suitable to your situation. For a friendly discussion regarding your financial requirements, you can contact our team today at +27 28 312 2764 or email us at info@finglobal.com, and we will get back to you as soon as possible.

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