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Claim your SA trust and inheritance income

Most people in these situations fall into three broad categories:

1. You are not a South African citizen

If you can prove to the South African Reserve Bank (SARB) that you are not a South African citizen, you will be free to transfer all of your proceeds out of the country.

2. You have financially emigrated from South Africa

Financial emigration is a process whereby you make a declaration to the SARB and South African Revenue Service (SARS) that you are a non-resident in South Africa. If you have done this before you receive any bequests, capital or income, you will be free to transfer your proceeds through a blocked Rand account.

We specialise in financial emigration, so if you want to apply for this status, or wish to verify it, contact us and we’ll assist you.

3. You are a South African citizen temporarily abroad

If you are a South African living abroad who has not financially emigrated, then you will be considered as a resident “temporarily abroad” by SARS. To transfer income abroad from South Africa in this situation is a little more complex. You have two options:

  1. You can fill in our financial emigration assessment form  and get started on your financial emigration.
  2. You can remain financially domiciled in South Africa and make transfers of up to R10 million every year. If you are looking to invest these funds internationally, speak to our financial planning division for offshore investment advice.

 

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 7070528) registered in England and Wales. Sable International is authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (FSP no. 41900) and holds an Australian Financial Services License issued by ASIC to deal in foreign exchange (AFS License number 335 126).

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