Tag: emigration

From 1 September 2024 South Africans with retirement funds have the option to participate in South Africa’s two component retirement system. Qualifying consumers with tax directives will be able to access approximately R100 billion in retirement savings.

As the South African Revenue Service (SARS) intensifies its focus on the tax compliance of high net-worth individuals (HNWI), a self-governing island nation located in the Irish Sea has steadily emerged as an appealing emigration destination for prospective South African expatriates.

The realisation came when I least expected it. We had been out of South Africa for five years when we met my parents, siblings and their families for a family holiday. Our children by then had gained New York accents and were stylishly attired in their overpriced fashion items, whilst the nieces and nephews marauded through the hotel in their 'Naartjie' outfits that were more akin to pajamas than to fashion.

Some South African tax residents working abroad, often referred to as 'expats', are grumbling about changes to the Income Tax Act, 1962 (the Act) which comes into effect on 1 March 2020.

South Africans are surging towards the popular United States EB-5 Immigrant Investment Visa program ahead of possible price increases that will likely place the EB-5 program out of reach for many other than for the uber-rich.  NES Financial, the leading EB-5 financial brokerage in the U.S., has estimated a 600% increase in EB-5 petition filings from South Africans this fiscal year from three years ago.