Three different scenarios
If you have an RA that you’d like to encash and are wondering how the new exchange control rules affect you and what you should do, these are the three possible scenarios:
If you have any questions or would like to discuss your options, please fill in this form below and a consultant will be in touch as soon as possible.
Our RA encashment process:
The key benefits of our RA encashment service include:
We are registered with the FCSA (South Africa), HMRC (UK) and the FCA (Australia)
We are an established player in the financial services and immigration industries.
You will have a dedicated specialist who will take care of you throughout the process.
Experienced tax experts will ensure that we find the most tax-efficient solution possible.
Our good relationship with insurance houses will ensure a straightforward fund withdrawal.
You will have access to great currency rates when you transfer your funds abroad.
Our wealth division can help you invest your funds in the UK or anywhere else.
Receive a report on your position with regard to financial emigration and pension recovery.
Lisa left South Africa a few years ago and settled in the UK with her family. She has been very happy with the move, but she was forced to leave some financial assets in South Africa.
Lisa thought that these assets were unrecoverable and impossible to access.
Lisa's remaining assets:
A small apartment her parents live in
What Lisa didn’t know is that the South African Reserve Bank implemented a law change in March 2021 that allows South Africans who have been non-tax resident for a consecutive three-year period the ability to access their retirement savings before the age of 55.
Lisa can keep her property in South Africa and keep her bank account in South Africa open while still being able to encash her retirement savings.
We specialise in:
Annual foreign allowance transfers (both R1 million and R10 million)
Transferring South African RAs and other pensions abroad
Transferring South African inheritances offshore
Setting up South African bank accounts
Tax emigration from South Africa
Tax emigration entails informing SARS that your tax status has changed as well as indicating how you should, or should not, be taxed in South Africa. It is important to note that South African residents pay tax based on both their worldwide income and assets.
We offer assistance to those planning to emigrate abroad and those who have already left without the intention of returning.