Can You Lend Money to Someone Overseas?
Opening position A South African resident may want to lend money to a family member overseas, support a foreign business, assist a child abroad or provide funding to a non-resident. Although the intention may be straightforward, the transaction can be sensitive. A loan is not the same as a gift, investment or service payment. It […]
Can South Africans Buy Shares in a Foreign Company?
Opening position South Africans increasingly invest beyond South Africa, whether through listed shares, private companies, offshore funds, family businesses or start-up opportunities. The question is not only whether the opportunity is attractive. The question is also how the money gets there correctly. A resident individual may be able to use available offshore allowances, but the […]
What Can You Really Do With Your R2 Million Offshore Allowance?
Opening position For many South Africans, moving money offshore sounds simple until the terminology starts to appear: Single Discretionary Allowance, foreign capital allowance, tax clearance, AIT PIN, SARB reporting and balance of payments codes. The good news is that the Single Discretionary Allowance now gives qualifying South African resident individuals more room to move funds […]