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Off topic / Taking Money legally offshore
« on: March 17, 2018, 01:45:22 pm »
Goo day,
Hope this is the correct place to start this tread. So I am quite sure everyone has started to think about what should happen if the government goes ahead with the expropriation of land without compensation. Personal I have been saving for a while now and wanted to buy a house in the near future however that plan has now been set aside. I do not want to buy a house and sit with the debt if government is just going to take the property. Also I do not want to keep the money in the bank since I feel the whole banking system will implode.
Now my question is, would it be possible to open a foreign bank account without actually residing within a foreign country? Or what would be the best way to get my hard earned savings out of the country without fees eating up the capital should also perhaps be low risks. I do not want rand dominated funds etc, I want the money to be out off this country.
I am not looking for professional advise, I am just busy researching my options.
Your thoughts on this will be much appreciated
Hope this is the correct place to start this tread. So I am quite sure everyone has started to think about what should happen if the government goes ahead with the expropriation of land without compensation. Personal I have been saving for a while now and wanted to buy a house in the near future however that plan has now been set aside. I do not want to buy a house and sit with the debt if government is just going to take the property. Also I do not want to keep the money in the bank since I feel the whole banking system will implode.
Now my question is, would it be possible to open a foreign bank account without actually residing within a foreign country? Or what would be the best way to get my hard earned savings out of the country without fees eating up the capital should also perhaps be low risks. I do not want rand dominated funds etc, I want the money to be out off this country.
I am not looking for professional advise, I am just busy researching my options.
Your thoughts on this will be much appreciated