Moving to Cape Town

Old Nov 21st 2012, 3:52 pm
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Default Moving to Cape Town

Hey guys,

I am considering accepting a job offer in cape town and I was wondering if I could get some questions answered.

1. Do banks give out car loans to expats? If there loan to income ratio?
2. General question on the cities crime rate, are there a lot of robberies? Is it safe to have a drink and walk back home at night?
3. It seems like everyone pays the same income tax. Can someone give me an idea of how much it is?
4. Is there anyone out there that works for an ad agency? I want a little guidance on compensation?

Cheers
S
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Old Nov 23rd 2012, 9:57 am
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Default Re: Moving to Cape Town

Originally Posted by Syed NYC
Hey guys,

I am considering accepting a job offer in cape town and I was wondering if I could get some questions answered.

1. Do banks give out car loans to expats? If there loan to income ratio?
2. General question on the cities crime rate, are there a lot of robberies? Is it safe to have a drink and walk back home at night?
3. It seems like everyone pays the same income tax. Can someone give me an idea of how much it is?
4. Is there anyone out there that works for an ad agency? I want a little guidance on compensation?

Cheers
S
Hi - welcome to the forum.

1. Yes - you can get car finance as an expat. You may need to get your employer to stand surety, and you can normally only finance for the same duration as your work permit. There isn't a hard and fast rule on amount you can borrow with a car loan, but rather calculated on affordability once outgoings are taken into account. Go to www.wesbank.co.za for a pretty good calculator. Current interest rate is 8.5%, but as an expat expect to pay around 10%
2. Cape Town, like all cities, has good and bad areas. You will need a car, but can't drink and drive - and there is no safe public transport. People smarter than me can give advise on the best areas. I have been to CT dozens of times but usually for a day or two at a time.
3. Income tax is payable after the first R120k pa, and is payable at around 40% - don't forget you will have medical aid, provident fund (pension) and the like too. Realistically, expect to walk away with 55% of your gross salary.
4. Pass.

Good luck,

Ed
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Old Nov 25th 2012, 8:28 am
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Default Re: Moving to Cape Town

Hi there.

I am a Capetonian. On this site because we are considering a move to France.

If you need any advice on the City itself and where to live I can help you.

Good luck with your decision. Cape Town is a great city to live in.
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Old Dec 1st 2012, 12:23 am
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Default Re: Moving to Cape Town

Just back from a several week stay in Cape Town and along the Cape Route and found it a great place to be.
Always took a taxi when out late in CT but never felt a problem during the day.
Of course lived in a good area and security was evident in most places.
Love CT a great city and place to be. Very international. Loads of tourists from UK and Germany and friendly folk.
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