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Infographic: Why South Africans should financially emigrate

by Andrew Rissik | Aug 25, 2015
  • We offer South Africans who have financially emigrated and are living in the UK the opportunity to withdraw their South African retirement annuities (RAs) before maturity, irrespective of whether or not, you are over the minimum retirement age of 55. Once withdrawn, net after-tax proceeds can be transferred to the UK and re-invested there.
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    Protect yourself from Rand volatility

    Many South African expats are still unaware that, since 2008, they have been able to withdraw their RAs. As a result they have lost the opportunity to protect these assets against Rand depreciation.

    Although we cannot turn the clock back, our aim is to increase awareness that this opportunity still exists and, in light of the continuing depreciation of the Rand is still compelling.

    Withdraw your RA as soon as you can

    Below is a graphic comparing the difference between two people financial emigration helped to withdraw their RAs. The graphic illustrates the benefits of withdrawing your RAs as soon as you can.

    Meet Louise and Larry:
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    Despite the fact that South African investments performed better in percentage terms than their UK counterparts over the same period, Louise who emigrated in 2010 ends up in a significantly better position than Larry.

    A holistic financial plan

    Our wealth team has been helping expat South Africans get the most out of their currency transfers and retirement savings for over two decades now. We also have a dedicated forex team with a strong track record in offering the best possible rates when you’re ready to transfer your Rands to Sterling.

    With our experience and expertise we can ensure that you can efficiently and cost effectively withdraw and transfer your SA retirement annuity. 

    Our established team of wealth managers are able to assist in the best onward investment of these funds. Building a sound financial plan with a trusted adviser will give you greater financial freedom, and allow you to maximise your future quality of life.

    If you’re already living abroad, or thinking of emigrating – call us on +27 (0) 21 657 2133 for a chat or send us an email and we’ll get back to you.

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

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    South Africa

    Cape Town

    Regent Square
    Doncaster Road
    Kenilworth 7708 +27 (0) 21 657 2120

    Durban

    201 The Annex
    Ridgeside Office Park
    Umhlanga +27 (0) 31 536 8843

    United Kingdom

    London

    Castlewood House
    77/91 New Oxford Street
    WC1A 1DG +44 (0) 20 7759 7514

    Croydon

    5-7 Selsdon Road
    South Croydon
    CR2 6PU +44 (0) 20 7759 7581

    Australia

    Melbourne

    9 Yarra Street
    South Yarra
    VIC 3141 +613 (0) 8651 4500

    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services License issued by ASIC to deal in foreign exchange (1st Contact Group - AFS License number 335 126).

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