Eric Jordaan
5 minute read
19 Oct 2020
9:09 am

Financial emigration laws

Eric Jordaan

This is the final step in formally moving to another country.

SA passport. Picture: GroundUp

If you’re thinking of leaving South Africa to live and work abroad, avoid making a rash decision with regard to formal financial emigration. While relocating to another country may affect your tax residency, it does not necessarily mean that you need to go through a formal emigration process. Separate from physical emigration, financial emigration is a complex, lengthy and expensive exercise, and should not be undertaken lightly. Before contemplating the process, it’s a good idea to unpack your reasons for wanting to do so and whether such an exercise would be appropriate for your personal circumstances. In 2008, the South...