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Loopholes have been closed with some tax havens by amendments to the DTA's lately. For instance, Swiss banks now have to disclose their customer accounts to IRS enquiries worldwide.
Portugal is the latest Tax Haven to emerge. They are desperate to attract new money into the country and has declined fiscal help from other EU countries with a new system. ie.
Non EU country members can now become Portuguese citizens by buying property or starting a business employing local citizens.
This is the Golden Visa method that I cannot afford as I think it involves an investment of R5m.
The other perk with this is that you pay a flat rate of 20% tax. Plus you get to freely move around the EU Shengen countries without a visa.

Their other system to attract money is to allow immigrants in with their foreign pensions and investment money and you get 10 years tax free. For this one spouse must be an EU member.

Metair went ex today by 70c.

Thanks XXXX. Got confused with divies and CGT. I have non property stocks and I presume Delusional also.

I Quote;

Is a non-resident subject to CGT on the sale of shares?

In general, this is not the case. There is, however, an exception to this rule for property-owning companies. The selling of shares in a property company owned by a non-resident will be subject to CGT if that non-resident–
directly or indirectly owns together with any connected person 20% or more of the equity shares in that company; and
80% or more of the market value of those equity shares at the time of disposal is attributable directly or indirectly to immovable property in South Africa.

Delusion and I will have assets in SA in the form of shares on the JSE. As my wife and I have formally emigrated, we cease to be residents and will pay no tax on divies and our interest earned will also not be taxed.
Delusion on the other hand, has not formally emigrated and will have to pay the witholding tax on all his divies and normal tax on his interest if over the limit here as normal.
Lump sum pay outs of RA's, insurance etc from SA can't be moved overseas without the SARB permission. This can only be done via a non resident blocked bank account.
Delusion does not have to complete the tax clearance form IT21(a) as he has not been back in SA for 5 years.
He will have to download the SARB form MP336(b) and post it to his bank in SA together with certified copies of his ID/passport , proof of residence and his foreign residence permit. The bank will do the rest at a cost of R1 200.00.
From then onwards, he can remit funds freely up to R1m pa via his blocked account.

You get classed as a non SA resident but keep your passport and citizenship. Even if you stay long enough in your new country and become a citizen, you keep your SA citizenship.
Two of my daughters are citizens of SA, Finland and UK.

So SARS will still consider you as a SA tax payer temporarily living abroad. So you must use an agent with POA to Officially Emigrate you.
I would recommend exchange4free.co.za to do it for you. With my research, I have found them to be the cheapest and the best to use for FX rates should you wish to sell SA shares and send it to you. The full fee is just under R10 000.00 but is well worth it as they have tax consultants and banking guys that will open a Blocked SA bank account for you.

A Blocked SA bank account is merely an account that is monitored by your bank according to SARB exchange rules. You can use it only in SA transactions freely but if you want to send money abroad, you have to email your bank agent. They will do so for you but the above agent can also do it.

I would recommend you to officially emigrate as it is tax effective. No divi tax and no tax on interest.

   

They have shutters on the windows that make the compartment pitch black and the movement of the train lulls one to sleep.

I would love to do the Cape to Durban route.