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;
- South African source inheritance;
- Any proceeds of assets (must be declared in your emigration application);
- All passive income (this includes rental income, salary, dividends, director’s fees, and income from discretionary or vesting trusts); and
- 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.