FINANCIAL EMIGRATION & RELOCATION FROM SOUTH AFRICA TO ABROAD

Financial Emigration

is the formal process to note oneself as a non-resident for tax and exchange control purposes in South Africa. The process ensures that one has met all requirements under the Income Tax Act No.58 of 1962 to ensure that one is a non-resident in accordance with South Africa’s tax residency tests and also ensures compliance with all exchange control regulations for non-residency.

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EXPATRIATES’ FIRST SARS PAYMENT DUE AUGUST 2020 KNOW & PLAN YOUR TAX LIABILITY
Only someone with their head in the sand would not be cognisant that SARS must collect now more than ever due to the current flailing economy and a massive budget deficit. Expatriates are a key target in this plan and have generally been non-compliant. Let us compute and plan your future taxes, ensure you are safe and compliant, even help sue your delinquent tax professionals, if you have been misled on your compliance status.

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NOW IS THE TIME TO FINANCIALLY EMIGRATE STRINGENT PROCESS IN 2021
As per the 2020 budget speech, government wants to encourage all South Africans working abroad to maintain their ties to the country, this will result in the strengthening of the tax treatment with SARS and amendments to the SARB process. This will commence in March 2021 and will result in a more stringent verification process that will trigger a risk management test to include certification of tax status. We urge all South African’s working abroad to formalise non residency. Financial emigration remains the main process in formally ceasing tax residency through SARS and SARB. Now is the time to comply with formalities.

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COVID-19 NOTICE: NO IMPACT ON SERVICE DELIVERY
Kindly note that our services are mainly performed remotely and as such we do not foresee any immediate disruption to our ability to deliver on your service requirements. As always, we have a dedicated team on standby to effectively expedite any assistance you may require.

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THE FIRST OF ITS KIND IN SOUTH AFRICA
PRACTICAL GUIDE ON SOUTH AFRICAN WORK PERMITS IN LATEST LEXISNEXIS EXPATRIATE TAX PUBLICATION

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“Therefore, if one financially emigrates (taking into consideration the tax residency tests) that would then indicate that the taxpayer ceased to be a tax resident.”

SARS, Foreign Employment Income Team, 18 October 2019

ABOUT US

OUR BACKGROUND

Financial Emigration offers a bespoke service to individuals wishing to terminate their tax residency status with the South African Revenue Service (“SARS”) as well as their status as exchange control resident with the South African Reserve Bank (“SARB”). We have many years of experience across a number of different fields allowing us to offer expert advice across the board, while maintaining high levels of service excellence. This uniquely enables us to facilitate your complete financial emigration as well as the recovery of any financial assets such as retirement savings and tax income.

Undergoing the Financial Emigration process, proves one’s intention to permanently reside outside of South Africa which coincides with South African tax residency tests – thus the formalisation of both exchange control and tax residency statuses being noted as “non-resident”. Financial Emigration and formal emigration, while similar in process, are not exactly the same. Formal emigration does not include the important steps of ensuring that tax residency is indeed ceased.

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EXPAT TAX LAW CHANGE 1 MARCH 2020

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OUR TEAM

Claudia Aires Apicella

Head of Financial Emigration

Jonty Leon

Legal Manager

Lovemore Ndlovu

Financial Emigration Application Specialist

Melanie Browne

Client Account Executive

Nicolas Botha

Senior Financial Emigration Specialist

Roger Aires

Financial Emigration Specialist

Thabang Maekana

Financial Emigration & Apostilling Specialist

Mandine Jeffery

Admin Assistant

Reabetswe Moloi

Admitted Attorney

Alex Mahundla

Financial Emigration Process Assistant

Kurhula Chauke

Kurhula Chauke - Expatriate Tax Consultant Tax Consultant

FREQUENTLY ASKED QUESTIONS

TESTIMONIALS

There was recently rumours heard living abroad that SARS was intending to tax expats living in foreign countries and I needed to act quick to ensure that my tax status back in SA was 100% sound. I then reached out to the team at Financial Emigration to assist on the matter. The team was extremely friendly and responsive and explained things very diligently. Everything was addressed and handled with absolute professionalism. I highly recommend their services for all expats living overseas. Fantastic service, wonderful team!

Philip Mostert

I came to the team with a few issues regarding my ability to Financially Emigrate, including if I could do so with a bond. One email later between the team and the bank and all is settled… Yes you can Financially Emigrate, even with an existing bond! Thank you so much to the team at Financial Emigration! Well Done!

De Vaal van der Merwe

I have been outside of SA for 20 years and I thought this was going to be a drawn out and difficult process (financial emigration). The biggest hurdle to getting started was not having any footprint whatsoever in SA, no bank account or address. The Financial Emigration team reacted quickly with a plan B, and with a POA signed over, they were able to set up my online profile on my behalf and the rest was quick and pain free. The team were very professional and efficient and answered all my questions, providing guidance where necessary. Great service!

Dion Maritz

Your kind communication and explanations throughout the Financial Emigration process were of great help to me. Melanie and Nicolas were always kindly available for explanations and advice, and I always received prompt, kind and encouraging emails. I acknowledge and am grateful for every one’s contribution. I can and will wholeheartedly recommend your services.

Petro van Deventer

Great service! A+++ I would recommend their services to anyone looking to financially emigrate.

Lourens Labuschagne

Thank you very much for the help, the hard work and making this process a little easier. Appreciate everything you have done for me.

Selwyn Moolman

Thanks so much to you and your team for all the assistance with this process. You made it virtually pain-free.

Jacqui Hadingham

If you will allow me to start by thanking you and the larger Financial Emigration team for your valuable and very professional assistance throughout the whole financial emigration process. You also very patiently answered all by (never-ending list of) questions and requests for clarification during this period; this is greatly appreciated.

Michiel & Karien Coetzee

Thank you so much for your great service, I noticed on more than one occasion you replied to emails of mine when it was around 8 or 9 PM in South Africa. You offer a fantastic service and are very professional during the entire process.

Claud Akers

Thank you to the Financial Emigration team for a spectacular job and for being extremely efficient. Your response rate is remarkable. Keep up the good work.

Vanessa Lamb Financial Emigration

We recently completed our financial emigration and we were very satisfied with the service we received.

Odette Coetsee

I’d give Financial Emigration 5 stars!

Wayne Gellately

Absolutely brilliant!

Eileen Pretorius

Spoke to the Financial Emigration team at length about the financial emigration process and they were incredibly helpful, knowledgeable and professional, more over sensitive to the nature of the entire family having to emigrate, something I wasn’t aware of initially.

Doug Leith

Reasonable costs and great expertise.

Leander Werner de Wit

Brilliant service and support. I would recommend Financial Emigration for sure.

Mandy Parker

Amazing service and support.

Carlo Britz

Very professional and great service.

Charmain Maggs

Highly recommended, very professsional, good communication and they are so helpful.

Kerry Gerlag

Great communication and progress updates.

Alet van Beek

Excellent service.

Jp Venter

Thanks very much to the entire team for hand-holding me through the financial emigration process. The professionalism and skill of the team has been impressive and I will certainly recommend FE/TCSA to others going forward.

Ahmed - Saudi Arabia