The Wegkaner or away South African's best friend – @home
Author: Hugo van Zyl CA(SA) TEP MTP(SA)
I am a qualified Chartered Accountant (South Africa) and a registered Master Tax Practitioner (South Africa) and Trust and Estate Practitioner.
I live in Cape Town yet many clients and intermediaries are based in Sandton, Durban, Bloemfontein ad Pretoria. I, therefore, commute on a regular basis.
I have been married for some 20 years, we have no children and we love to travel. We share an affinity for good company, interesting food and good value for money wines.
First publisched by: http://www.bcbadvisory.com/formal-emigration-not-advisable-for-all/
Formal or financial emigration is the process to formally change your exchange control status from resident to non-resident. It is also sometimes known as Excon Exit.
Financial emigration will not affect a South African’s right to retain their South African citizenship or dual citizenship. It is thus a purely financial process.
Following financial emigration from South Africa, a person can remain tax resident in SA, based on the time spent in the country and subject to the double taxation agreement (DTA) in which the person will be living in future.
Ex-pat Pensioners residing abroad (not having formally emigrated) can now extract their monthly pension and retirement annuity income from South Africa (SA) without the need of a tax clearance certificate, despite living abroad as so called temporary non-residents.
This Webcast is scheduled for Wednesday, February 27, 2013 at 14:00 South African time.
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