Latest South African Emigration News & Tax Insights

South African Expats Abroad: Understanding the Tax Law

24/04/2018

South African expatriates need not only understand the new expatriate tax law but also act on it or face dire tax consequences come 1 March 2020. The Expat Tax Amendment The amendment to section 10(1)(o)(ii) of the South African Income Tax Act No. 58 of 1962 formed part of the Taxation Laws Amendment Bill of...

Handcuffs and money, with text warning South African expats about criminal records for hiding from SARS, from Financial

South African Expats – Hiding from SARS could lead to a criminal record without you even knowing

19/04/2018

The South African Revenue Service (SARS) has stepped up their mission to reduce a massive tax deficit, by initiating a campaign with the National Prosecuting Authority (NPA) to prosecute non-compliant taxpayers who have failed to submit returns. This was announced in the media release dated 16 April 2018, indicating various court cases covering multiple parts...

Silhouette of a traveler with luggage at an airport window, watching an airplane, with text about returning to South Africa

Can I Return To Live And Work In South Africa If I have Financially Emigrated?

28/03/2018

Being declared a non-resident does not mean you are giving up your South African citizenship. Unless you formally renounce your citizenship, you will always legally be South African. You are able to come back to live and work in South Africa whenever you wish. To ensure you do so legally and without any restrictions, you...

Expat Tax: No Such Thing As Small Fish

08/03/2018

South Africans Abroad Emigrating from South Africa is not as simple as packing up your bags, jumping on a plane and setting up shop somewhere else. Unfortunately, there is still the issue of tax and no matter where you go, the taxman remains interested. The South African Reserve Bank, SARS and even the globally agreed...

Quote from Malusi Gigaba: Government to align tax treatment of preservation funds upon financial emigration, Budget Speech

Tax Relief upon Financial Emigration for non-residency Status

26/02/2018

The 2018 Budget Speech announced additional tax relief upon “Financial Emigration” for non-residency status. This consistently supports the previously stated SARS view that South Africans abroad are to be encouraged to comply with formalities through the financial emigration process and to confirm their non-resident tax status, where so intended, by obtaining an "Emigration Tax Clearance"...

A large bird in flight with mountains in the background, alongside text asking about financial emigration and South African

Does financial emigration affect my South African residency status or citizenship?

20/02/2018

Emigration (also referred to as formal or financial emigration) does not affect your birth right, citizenship or the right to retain your South African passport. It is often believed that officially emigrating requires you to give up your citizenship and identity as a South African – a very emotive issue. This is incorrect. Registering an...

Tax laws for SA expats are changing: How to avoid getting stung by SARS

08/02/2018

The South African economy has been left frustrated by the number of citizens moving abroad, and failing to resolve their domestic tax issues. This was noted in the Parliamentary hearings in 2017 as one of the main reasons why the tax laws on South Africans working abroad had to change. As SA faces the prospect...

What is the difference between emigration and immigration?

02/02/2018

Immigration (physical relocation) – to another country from South Africa. Emigration (financial emigration) – from an exchange control perspective, is the financial exit from South Africa. On completion of this process your financial status in South Africa changes from resident to non-resident. If you emigrate without properly notifying the South African Reserve Bank (SARB), you...

Do I need to close my South African bank account when I financially emigrate?

29/11/2017

Expats often are under the assumption that they need to close their South African Bank account prior to financially emigrating. A South African bank account is required for one to be able to financial emigrate, as the South African Reserve Bank process has to be initiated through a South African Bank. Your South African bank...

Do I Need to Dispose of My South African Assets When I Financially Emigrate?

27/11/2017

Expats often presume they need to dispose of assets when financially emigrating. The financial emigration process has no impact on selling or otherwise disposing of any assets. This is simply not the truth, including that you do not have to cash-in on policies or retirement preservation vehicles. Those who spread miss-information hereon are often certain...

Significant Increase In Financial Emigration For South African Expatriates

10/10/2017

Recent changes to the taxation of foreign income earned by South Africans living and working abroad permanently or on long term contracts have shone the light on financial emigration. Financial emigration is a formal process with the South African Reserve Bank (SARB) to change your tax status from “resident” to “non-resident” for exchange control purposes....

South African Treasury clears up rules

15/09/2016

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LATEST NEWS

South African Expats Abroad: Understanding the Tax Law

South African Expats – Hiding from SARS could lead to a criminal record without you even knowing

Can I Return To Live And Work In South Africa If I have Financially Emigrated?

Expat Tax: No Such Thing As Small Fish

Tax Relief upon Financial Emigration for non-residency Status

Does financial emigration affect my South African residency status or citizenship?

Tax laws for SA expats are changing: How to avoid getting stung by SARS

What is the difference between emigration and immigration?

Do I need to close my South African bank account when I financially emigrate?

Do I Need to Dispose of My South African Assets When I Financially Emigrate?

Significant Increase In Financial Emigration For South African Expatriates

South African Treasury clears up rules

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