Owe SARS money? Here s the worst thing you can do news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
Need-to-know recommendations for HNWIs emigrating to the US graziadaily.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from graziadaily.co.za Daily Mail and Mail on Sunday newspapers.
There are three main areas of concern anyone intent on emigrating to the US must consider to transition their lives smoothly and relocate wealth safely.
The South African Reserve Bank (SARB) may no longer be a visible part of the process to cease residency in South Africa. However, when it comes to moving money out of the country during or after emigration, the Reserve Bank is still very much involved. This is especially true for amounts above R10-million. "Currently, we're not only seeing people leave the country for better prospects abroad but also a rise in those moving funds over R10-million offshore," says Lovemore Ndlovu, Head of SARB Engagement and Expatriate Compliance at Financial Emigration, a division of Tax Consulting South Africa.