driv3l

Hi,

I have been living abroad for over 10 years, and am looking at getting some money out of SA (from a late estate).

From the reading I've done, seems like the "foreign investment" option might be the best. However, this seems to require a tax clearance certificate.

From looking at the SARS tax clearance certificate, it seems that they require a tax reference number, as well as your tax affairs need to be in order (i.e. filed returns etc). You also need to provide an assets and liabilities sheet.

Since I have been abroad for so long, I don't know if I have a tax reference number, and what that might be.

Has anyone run into this issue before? How difficult is it to obtain a tax clearance certificate if you've been living abroad and haven't filed taxes in SA (or know what your tax number is)?

Is obtaining a tax clearance certificate best done via a tax accountant / attorney?

I've also looked at the option of taking the money out as a travel allowance. This seems like the least painful option, however, it seems you have to be living in SA in order to do this. If I go back to SA, how long do I need to be there in order to be able to take my money out as a travel allowance? What documentation do I need to provide for this option (aside from return travel tickets)?

Any help would be greatly appreciated. I'm totally lost at this point.

Thanks!

tekman

I have to admit from the off I'm not clear on the legalities of your problem but I found when I wanted to shift cash from UK to SA account with minimum pain I got myself a broker from ukforex.co.uk minimum amount I believe is £500 I needed to transfer a considerable amount more than that about £5000 I think and the fee for doing that was around £9.

Like I stated earlier not sure re SA law but I guess if you liquified the assets you have in SA you should be able to shift it easily this way. However please don't flame me if I'm wrong just though it might be worth investigating.

Also this link may be of some help
http://www.exchange4free.co.za/index...questInfoPack/

rozellem

Email Tanya v d Westhuizen at exchange4free, they can answer all your questions, has a range of services, very reasonable fees and have been used by many of us, many times.

Alfresco

Errol

Good question

I had an inheritance in 2004 My last visit to the country was 1974, thirty years prior to to inheriting the funds

I was shocked when the estate attorneys advised me the funds couldn't be transfered until I had obtained a non-resident clearance (or something like that)

I completed and signed a bunch of paperwork which after about six month the funds were transfered.

My experience goes back about seven years so who knows. I don't know how much work the estate attorneys and or the bankers did behind the scenes to get to the stage where I could sign the bunch of documents.

An attorney/accountant may be the way to go

Errol