Sovereign assists families and entrepreneurs around the world to structure their assets in a way that will help to grow their wealth now and preserve it for future generations. We advise on all aspects of the design and implementation of structures, using trusts, foundations, companies and funds, in domestic as well as overseas jurisdictions, to hold assets and investments for secure, efficient wealth and succession planning.
South Africa’s exchange control regulations ‘control’ the flow of money both in and out of South Africa. For individuals, the ExCon regulations dictate how much and under what circumstances to South African residents can transfer money out of South Africa. Permissible reasons for transfers abroad include:
- Monetary gifts and loans
- Maintenance transfers
- Travel allowance
- Study allowance
- R 1 million foreign capital allowance
- R10 million individual capital allowance
Furthermore, South Africa has signed a numerous amount of double taxation agreements that open gateways for tax planning opportunities. For those intending to emigrate from South Africa, careful planning can also avoid their estates being brought into the tax net of their new home country.
Sovereign provides the support to maximise opportunities and achieve long-term sustainability, from full family office solutions to assistance with tax and regulatory compliance. This includes but is not limited to asset management, accountancy, foreign property ownership, retirement planning, residency, immigration and citizenship, insurance, yacht and aircraft registration and management, as well as specialist tax advice.