International Money Transfers
We are leaders in providing a simpler, smarter service for international money transfers and any payments that require SARB approval. We specialise in providing foreign currency conversion services to both corporate and individual clients.
Offshore Payments for Deceased Estates
Paying foreign beneficiaries from deceased estates are generally split into three categories. We can assist with all of these.
- Foreign beneficiaries
- SA residents and SA residents temporarily abroad
- Financial emigration
Tax Clearances
Obtaining a tax clearance for foreign investment can be a daunting task and often results in significant delays when remitting funds offshore. RandTangle together with our Master Tax Practitioner (with almost 20 years experience on both sides of the SARS table), will enable you to simplify this process for your clients. Clearances are usually obtained in 5-10 working days, once all the supporting documentation is received.
Exchange Control
As you may have experienced when making payments to foreign beneficiaries of trusts and deceased estates, the banks usually bury the executors and trustees in bureaucracy and paperwork. Some clients may also need to financially emigrate in order to receive a South African based inheritance or finalize their financial emigration.
To that end, we have a dedicated division of the business, that specializes in handling the admin function for executors and trustees, and also assisting clients with financial emigration. Some clients require assistance to get their “house in order” in South Africa, and where we are able, we will also assist with this process.
Financial Emigration
Financial Emigration is the formal process of changing your status to a ‘non-resident’ South African. This process applies to your status in terms of exchange control and taxation. Financial Emigration does not affect your citizenship, and you do not have to surrender your passport or right to be South African.
RandTangle specialises in assisting clients with Financial Emigration. We manage the entire process, from the collection of information, the preparation of submissions, the opening of accounts and obtaining the necessary tax clearances and directives.
One of the benefits of going through the formal process is that you are then able to move your funds, including retirement annuities, to your new home country, which will reduce the currency risk you face in your retirement planning.
