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Is Investing Offshore an Option?

Is Investing Offshore an Option?

Offshore investment is the act of moving money outside a person’s home country and investing. Offshore jurisdictions are a commonly accepted means of reducing the taxes levied in most countries to both large and small-scale investors alike.

There are many reasons why one would want to invest money offshore but the main reason would be to diversify investment portfolios. Money invested within one's country, onshore, will usually be invested in local companies and in the local currency of the investor. This means an investor’s wealth can be very exposed to the local economy and the country's politics.

“By investing offshore you can get exposure to more stable economies of the developed world, such as the United States, United Kingdom and Germany, and the growth economies of other emerging markets, including the industrialising giants of India, China and Brazil” -Quilter Cheviot, Investment Management.

There are plenty benefits for investing offshore such as putting money away for future expenses – ie. If you wish to educate children in foreign universities, you wish to travel extensively or just to retire overseas.

Investing can be a risky thing to endeavor. Ideally, you should seek the advice of a financial advisor who focuses on offshore investments and has a good track record in this field.

We can assist South African clients looking to Invest Offshore:

Foreign Investment Allowance funds can be invested into offshore investment portfolios, property, bank accounts or any other investments.

Private individuals may utilize the below Foreign Investment Allowance per calendar year:

  • R 10,000,000 per adult - SARS Tax Clearance Required (we assist with obtaining SARS tax clearances for FREE within 3-5 days)

Clients can follow the below process to send money abroad using your R10M Foreign Investment Allowance:

  • Apply Online - Go to APPLY ONLINE and choose R10M Foreign Investment option from dropdown menu
  • Complete Form with yourself as the Applicant and your beneficiary bank account details where you want the money to go to
  • Click Submit

Exchange4free will then email you all the required paperwork pre-completed for your signature only.

You would be required to send through all ORIGINAL signed paperwork and original certified copies of your South African ID Book and Proof of Residential Address.

Once we receive all paperwork and FICA documentation as above we will be able to fix an exchange rate and send the money overseas to your nominated beneficiary bank account.

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