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…
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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…
Cross-border inheritances can feel complicated. That’s why we’re stripping away all the legal jargon and discussing testamentary trusts in straightforward terms – to make it easy for everyone without a…
Last month on our blog, we covered inter vivos trusts and what they’re used for, while taking a look at the exchange control implications for offshore beneficiaries. This time around,…
If you are the beneficiary of a South African inter vivos trust living abroad, there are some important things you need to be aware of in order to stay on…
The South African Reserve Bank’s Financial Surveillance Department (FinSurv) issued four new circulars in May this year amending the Currency and Exchanges Manual for Authorised Dealers (AD Manual). This important…