FINANCIAL EMIGRATION FUNDS

The following is a summary of the funds you may transfer offshore as part of your Financial Emigration:

Any proceeds of your retirement annuity, before age 55.

Inheritance

South African source inheritance.

Application

Any proceeds of assets (must be declared in your emigration application).

Income

All passive income (this includes rental income, salary, dividends, director’s fees, and income from discretionary or vesting trusts).

Life Policy

Any proceeds from a third party life policy.

The new Financial Emigration process post 1 March 2021 requires you to prove non-residency for an uninterrupted period of three years before you can encash your pension or retirement annuity funds.