FINANCIAL EMIGRATION

The process of Financial Emigration terminates your tax residency status with the South African Revenue Service (“SARS”). The SARS component of the Financial Emigration process is duly evidenced by an “Emigration Tax Clearance Certificate”, which is part of South African Administrative Law and comes with a guarantee as per section 33 of our Constitution.

Ultimately, Financial Emigration will effectively ensure you do not have to pay “Expat Tax” on your hard-earned foreign income.

“Therefore, if one financially emigrates (taking into consideration the tax residency tests) that would then indicate that the taxpayer ceased to be a tax resident.”

SARS, Foreign Employment Income Team, 18 October 2019

We specialise in the financial emigration process for South Africans abroad who are primarily completing the process for tax planning and compliance purposes. The process of Financial Emigration (“FE”) terminates your tax residency status with the South African Revenue Service (“SARS”). It formally closes your affairs with SARS and is evidenced by a Tax Clearance Certificate – Emigration and a Section 9H deemed disposal (also known as your “exit tax”). This process allows you to:

a) discharge your onus of proof that you have ceased to be a tax resident of South Africa;

b) remove any ambiguity from a compliance perspective, and

c) proves your subjective intention to remain abroad in terms of our case law when dealing with SARS.

Contrary to misinformation, the FE process does not require the giving up of citizenship, handing in of passport, selling of property or cancelling of bonds and financial products.

Our teams comprise 140 full-time professionals including a highly specialised team of admitted tax attorneys, chartered accountants, financial emigration specialists and tax practitioners who are geared for the more complex cases where you require technical depth and with a proven track record of guaranteeing non-resident tax status with SARS through FE.

View Financial Emigration Process Update 2021

PROCESS SNAPSHOT

Financial Assessment
Once we receive your details we will conduct an assessment of your financial position.
Gather Required Documents
We will send this onto you with a comprehensive quotation of our services to assist you in completing the process of your financial emigration.
Update Taxes
We will handle everything from start to finish with no input from you besides the initial paperwork that is required at this point. We will send you the necessary forms to complete a list of the documentation required.
Apply for tax clearance
We then update your taxes and apply for your tax clearance certificate.
File with sarb
File your financial emigration application with the SARB.
Transfer funds
Once approval is received from the SARB, you may proceed to transfer your funds offshore.

START YOUR FINANCIAL EMIGRATION NOW

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How long do you intend to remain abroad?*
Is your GROSS income above the R1.25 million expatriate tax exemption cap?*
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