Moving money across international borders can be a complex dance, especially when it comes to paying for services rendered. Exchange control regulations can get complicated, fast! To avoid confusion, we’ve…
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Packing your belongings for a new chapter abroad? How exciting! When you emigrate, it can feel like an extra hurdle having to navigate the world of exchange control regulations on…
Historically loop structures were not permitted in terms of the South African exchange control regulations. In terms of Exchange Control Regulation 10(1)(c), such transactions (or series of transactions) in which…
Trusts have been used in South Africa since the 1800s, and became a popular way to manage assets, given that they offered a variety of benefits including asset protection, tax…
When planning your emigration, you’ve probably already considered things like relocating your pets, moving your furniture, packing your belongings and shipping your artwork. But when it comes to your financial…
In the past, exchange control policy relating to distributions from an inter vivos trust were complex and restrictive, which meant that the processes involved in transferring money out of South…
In today’s economy, few can survive on a single income stream. As such, most South Africans have a side hustle or two, from which they may receive some sort of…
As the end of 2023 draws near, this is your reminder to make use of your annual exchange control allowances in order to move money out of South Africa. To…
The SARS tax compliance status (TCS) processes involved with making international money transfers out of South Africa have changed. Where previously you would use the TCS – Emigration to repatriate…
The Minister of Finance and the South African Reserve Bank (SARB) have been hard at work these past few years modernising exchange controls. One of the first changes made in…