International Financial Planning for South African Residents

The laws and rules concerning South African tax residency and the definition of “ordinarily resident” status have changed significantly in recent years. These changes, as well as certain provisions imposed by the SARS and other tax authorities, have meant many existing financial arrangements are now outdated
and thus no longer effective for many South African residents and expatriates. Any offshore financial structures should be carefully reviewed in order to avoid unnecessary costs.

Our extensive experience and knowledge of the latest developments in international financial planning puts us in a strong position to help clients assess their existing arrangements in light of the new legislation and, where necessary, identify more practical and cost-effective solutions.

Our long time partnerships with some of the largest and most reputable corporate offshore trustees provide our clients with access to premium services at competitive rates. With our overseas trustee partners we have developed retirement planning solutions specifically designed for South African residents who wish to use their R10 million annual offshore investment allowance, or to consolidate their existing offshore investments into a more tax-efficient and cost-effective structure.

Benefits of Offshore Retirement Trusts for South African Residents

Using offshore trusts as part of retirement planning carries a number of tax benefits for South African residents:

  • No tax on income arising within the retirement trust.
  • No tax on capital gains arising within the retirement trust.
  • No estate duty upon death of the member.
  • No estate duty or costly and lengthy probate upon death of the member
  • Avoiding the (often costly and lengthy) probate procedures. Assets are immediately passed on to heirs upon death of the member via a letter of wishes.

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