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Quote from: conradl on December 21, 2016, 08:11:13 am

Anyone tried this: https://www.clickfx.co.za/

An article in the Moneyweb Investor Monthly on this website. They're main business is doing foreign exchange transfers for companies but have recently started doing transfers for the public. I'm curious about the fees but the houses arent forthcoming in this regard...

Not yet, I'm planning on it for next years discretionary allowance. Had quite a few email back and forths with them. Basically they do mid-market + 0.5% + R350 per transfer. I generally transfer R100k at a time, so with them the total fees will be R850 while with exchange4free it will be R1000 (they do midmarket + 1%).

This is really going to be interesting tax wise. You will have to do stacks of juggling here trying to keep your tax residency in SA. Gets very complicated in this case.

In the first place EU countries.

You’re automatically resident if either:

1.You spent 183 or more days in the country in the tax year
2.Your only home was in that country - you must have owned, rented or lived in it for at least 91 days in total - and you spent at least 30 days there in the tax year.

So you would have to relocate to a different country every 90 days to escape being tax resident.

If you happen to get this right then you have a further problem. SA will regard you as non resident after 183 days absence and all your properties will be regarded as a "deemed" sold at the valuation on the day you left and CGT will be payable.
Good news is that you have 5 years to pay it in yearly increments. With interest though.

More later. Beer time.

A will regard you as non resident after 183 days absence and all your properties will be regarded as a "deemed" sold at the valuation on the day you left and CGT will be payable.

Lucky bastids...