Are you planning to embark on a new chapter abroad? Are you a South African already living and/or working outside of South Africa? At Apostil.co.za, we understand that the process of moving to a new country involves more than just packing your bags. That’s why we are excited to introduce our enhanced service – bespoke financial services and assistance for South Africans relocating overseas (through our third-party registered FSP).
What is Tax Emigration?
Tax emigration is a formal procedure to alter your tax residency status. Once this procedure is finalized, the South African Revenue Service (SARS) recognises you as a non-resident for tax purposes.
The importance of tax emigration lies in its ability to extricate individuals from the South African tax framework, while ensuring they’re following the tax regulations of their new country of residence. This process goes beyond mere physical relocation, focusing instead on the intricate financial and tax-related aspects that come into play. Through tax emigration, you can effectively manage your income, assets, and investments in accordance with the tax laws of your new residence.
Effortless financial concierge services
Why choose Apostil.co.za for your financial transition?
At Apostil.co.za, our experienced professionals have a profound understanding of the complexities of tax emigration. We offer comprehensive support to facilitate your transition, assisting you in overcoming the hurdles of international tax legislation.
Our services are designed to cater to the unique needs of business owners, investors, and individuals with varied portfolios, providing customized solutions that meet your specific objectives and situations.
- Expertise: With years of experience in document concierge services, Apostil.co.za has expanded its offerings to include comprehensive financial assistance.
- Trusted partners: We’ve partnered with reputable financial institutions to provide you with a seamless experience when dealing with matters such as tax clearance certificates, financial emigration documents, and more.
Our financial and tax services for South Africans who have emigrated or are emigrating:
- Tax clearance certificates: Ensure compliance with tax regulations as you embark on your international journey.
- Financial emigration documents: Streamline the financial emigration process with our expert guidance and support.
- Personalized financial assistance: From budgeting advice to investment planning, we’re here to address all your financial queries and concerns.
| Service | Description |
|---|---|
| Policy surrender | Surrendering of retirement annuities, pension, provident, and preservation funds, and transfer of proceeds offshore. |
| Foreign exchange | Cost-effective, efficient, and tax-compliant solutions for the transfer of money from South Africa. |
| Tax emigration | Solutions to help you exit the South African tax system when emigrating. |
| Tax clearance | Used to access foreign capital allowances or as part of the financial emigration process. |
| Tax compliance | Essential for financial emigration and compliance with cross-border tax regulations. |
| Tax refunds | Former South African tax residents may be eligible for a SARS tax refund even when working and living offshore. |
| Tax advisory | Wide range of tax advisory services for South Africans choosing to emigrate financially. |
Ready to make your move? Let us help you navigate the financial landscape!
Simply click here, and our dedicated third-party registered FSP will reach out to you for a personalised consultation. We understand that every individual’s financial situation is unique, and our goal is to provide tailored solutions that align with your specific needs.
Frequently Asked Questions
What is financial tax emigration?
Financial tax emigration refers to the formal process of changing one’s tax residency status with the South African Revenue Service (SARS). This procedure is essential for South Africans who are relocating abroad permanently or for an extended period and wish to ensure they are correctly classified for tax purposes in South Africa. It involves declaring oneself as a non-resident for tax purposes, thereby potentially changing one’s tax obligations to South Africa regarding income earned outside the country.
How can Apostil.co.za assist in my financial tax emigration process?
Apostil.co.za offers comprehensive assistance in navigating the financial tax emigration process. Our services include the initial consultation to understand your unique situation and objectives to provide tailored advice. We also assist in gathering and preparing all necessary documents required for the application. We will deal with handling the submission of your financial tax emigration application to SARS and any other relevant authorities.
We also ensure that you are compliant with all South African tax laws and assisting in obtaining tax clearance certificates.
What are the benefits of financial tax emigration?
- Clarity on Tax Status: Clear definition of your tax residency status to avoid being taxed on worldwide income by SARS.
- Tax Efficiency: Potential for tax savings on foreign income and investments.
- Compliance: Ensures compliance with South African tax laws, avoiding penalties and interest for non-compliance.
- Financial Planning: Facilitates better financial planning and management of your assets both in South Africa and abroad.
How long does the financial tax emigration process take?
The duration of the financial tax emigration process can vary significantly depending on individual circumstances, the complexity of your financial situation, and the workload at SARS. Generally, the process can take anywhere from 3 to 6 months from start to finish. This timeline includes the initial consultation, documentation gathering, submission of applications, and waiting for approval from SARS and other financial institutions involved.
To get a free call on any finance and tax emigration questions, click here.
