Good news for South Africans looking to move money offshore!
SARS have removed the official requirement for private individuals to provide '3 Years of Annual Financial Statements' in order to obtain a TAX CLEARANCE FOR FOREIGN INVESTMENT to send up to R10 Million out of South Africa.
This is a major breakthrough for clients investing offshore, buying overseas property and emigrating, as the process and requirements to obtain these tax clearances has been both onerous and prohibitive.
The requirements are now:
- FIA001 Form
- SA ID
- Statement of Assets and Liabilities (3 Years)
- Proof of Funds
- Power of Attorney
Less requirements can only be good news.
To your success~