AUTHOR: LANCE LAWSON
Implications for South African investors, business owners, and emigrants
WITH SOUTH Africans being able to invest up to 45% of their retirement savings, and up to R11 million in total per calendar year offshore, many are taking the opportunity to move their investments into foreign jurisdictions—a sound move that helps to mitigate local risks and accrue the benefits of a diversified portfolio. And, in addition to moving their wealth, many South Africans have physically moved overseas or own offshore businesses.
However, while investing offshore may have its benefits, investors need to bear in mind that foreign tax regulations are multifaceted and require careful consideration. Navigating offshore tax can be complex, and requires a thorough understanding of South African laws as well as the regulations of the investment jurisdictions.
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