Why use a “non-resident” consultant?

The South African Reserve Bank has stringent exchange control regulations relating to the purchase by non-residents of property in South Africa. The “non-resident” consultant can assist the international purchaser in smoothing the financial process at the time of purchase and more importantly at the time the non-resident sells the property.

We have found that many international clients who purchased property in South Africa in the 1990’s and earlier have had problems in repatriating the funds when the property is eventually sold. This was largely due to the failure to comply fully with the South African Reserve Bank exchange control regulations at the time of purchase.

To avoid heavy financial loss it is absolutely essential that at the time of introduction and repatriation of funds the Reserve Bank’s rules are adhered to.

This is where the non-resident consultant can help. We provide up to date information as to the current Reserve Bank requirements both when bringing the funds in and when taking the funds (and any profit) out again. We assist the purchaser with the regulations surrounding mortgage loans, endorsement of title deeds, rental procedures, and non-resident bank accounts. We have associations with tax consultants skilled in the areas of capital gains tax, withholding tax and income tax aspects.
If required we also assist with competitive exchange rates when introducing the funds.

We aim to make your purchase as smooth and trouble free as possible so that you have peace of mind and can relax and enjoy your investment in sunny South Africa.

Fanus Jonck (tax@jonck.net) is a Tax Consultant and Jo Williams (jodtwilliams@mweb.co.za) is a “non-resident” consultant and works closely with estate agents and conveyancers to ensure the client’s purchase of property here in South Africa in a smooth and trouble free process.