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Emigrating from SA? What must be part of your Financial Emigration Plan™?

Emigrating from SA? What must be part of your Financial Emigration Plan™?

October 9, 2023


When considering the planning involved in emigration from South Africa, there is so much more to it than packing boxes, booking flights and arranging passports and visas. You will also need to consider the logistics of your finances, as you transition from one country to the next. This includes addressing how you’ll move your money and other assets abroad, what you’ll do with your retirement annuities, and how you’ll maintain tax compliance until you’re ready to undertake the process of tax emigration.

With all of these complicated considerations in mind, we at FinGlobal have made it our mission to make the financial transition for South Africans as seamless and stress-free as possible. We do this for each and every client by creating a Financial Emigration Plan™ that takes into account their specific circumstances and unique goals in moving their financial interests from one country to another.

Financial emigration: moving your money out of South Africa

Opting for the right partner to handle your cross-border financial decisions can significantly alleviate your stress, both now and in the future.

  • FinGlobal will assist you to move your money out of South Africa in a cost-effective, time-efficient, and tax-compliant manner.
  • We do this by crafting a tailored Financial Emigration Plan™ for each transaction that guarantees the best approach to achieve your desired outcome, swiftly and efficiently.

If you’re investigating your options for emigrating your finances, FinGlobal is the smart choice because we provide you with a genuinely personalised Financial Emigration Plan™ that is:

  • 100% tailored to your needs: a one-on-one assessment is conducted upfront, allowing us to identify your specific requirements and align with your ultimate objectives. We take a hands-on approach to your financial emigration moves, because we know that a one-size-fits-all strategy won’t get the job done right.
  • Charged at fixed costs, no hidden fees: We avoid the unpredictability of fluctuating, percentage-based fees tied to transaction value. Instead, we maintain a fixed rate for our cross-border financial services and our fees are communicated upfront, so you’ll always know exactly what to expect.
  • Great value for money: Taking into account the convenience and security of entrusting your cross-border financial planning to the professionals, you’ll soon realise that our bespoke expat financial solutions are worth every penny.
  • Designed for your peace of mind, every step of the way: We don’t charge any fees upfront and payment is only expected upon successful completion of the agreed transactions. We expect payment only when we fulfill our promises—what could be more reassuring than that?

What goes into a personalised Financial Emigration Plan™?

First, it’s important to understand that there is a distinction between financial emigration and tax emigration. The first is concerned with moving your finances abroad, the latter involves ending your tax obligation with the South African Revenue Service (SARS).

Step 1: Assess – We engage in a one-on-one assessment with you to gain an in-depth understanding of your specific needs and the surrounding circumstances.
Step 2: Identify – We conduct a thorough search to identify all your policies and retirement funds eligible for cashing in and transfer abroad.
Step 3: Present – We present you with a proposal outlining how to unlock your funds, achieve your objectives, and provide clear details on our costs. Once you approve our proposal, you can relax as we take on the heavy lifting of making your financial emigration happen.
Step 4: Execute – We handle all paperwork involved, making sure all your supporting documentation is correct, for each different transaction. All you need to do is sign electronically, and we’ll manage all administrative tasks and navigate bureaucratic processes on your behalf, while you track our progress online at every stage.
Step 5: Finalise – You can sit back and relax a bit more—soon enough, your funds will be cleared into your overseas account, exactly where you need them to be.

Four reasons a personalised Financial Emigration Plan™ will be the best decision you can make for your financial transition:

  1. Cost-effective service: Our transparent, fixed fee structures and highly competitive exchange rates result in better payouts for our clients—you’ll get more money out, faster.
  2. Safety and full compliance: We diligently request all the necessary supporting documentation to ensure smooth processes, aligning with our commitments as an ethical licensed Financial Services Provider.
  3. No hassle, no stress: We liaise with SARS on your behalf as registered Tax Practitioners, ensuring a seamless experience.
  4. Speed and convenience: Equipped with the right connections and efficient processes, we can fast-track every step of every transaction. We offer peace of mind without requiring you to follow up – you can simply track our progress via our online client portal.

FinGlobal provides a full suite of specialised exchange control solutions, tax advisory and financial services that will allow you to:

  1. Gain approval for international transfers and transfer your money abroad
  2. Maintain your tax compliance with SARS as a resident abroad
  3. Obtain tax clearances without hassle
  4. Transfer proceeds from South African inheritances
  5. Cease tax residency and terminate tax obligation with SARS
  6. Access the full cash value of retirement annuity policies
  7. Claim SARS refunds on lump sums from retirement payouts (UK/US only)
  8. Manage assets and banking in South Africa

Ready to find out how we can assist in streamlining your financial transition? Leave your details below and we’ll be in touch to answer all of your financial and tax emigration questions.

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