General Category > Shares

Investing Offshore

(1/1)

Tyron92:
Hi All,

I was wondering has Patrick released the blog on investing offshore, I am looking to invest money offshore and would like to know the most optimal way?

I have an FNB global account, so was wondering if I should just transfer money from that to the easy equities USD account?

Thanks for any help

Patrick:
Not yet, I haven't cracked the offshore bank account problem in a simple way yet.

If you have that solved I would take a look at both degiro.ie or interactivebokers.com. I use interactive brokers as I think they're the cheapest once you reach $100k.

Orca:
After having too much trouble with FNB in money transfers (last transfer took over 2 weeks and countless emails and complaints) I have been advised by a well known FX and Cross Border Tax consultant to rather use https://currencyassist.co.za/#investing-offshore

They can open a foreign bank account for you via Mercantile, a subsidiary of Capitec at no cost and will move any amount of money back and forth at the best rates possible and in the shortest time. Same day rates so you can take advantage of FX movements.

[email protected]:
I no longer require an offshore investment account - however I previously opened an account with Internaxx (google them) and transferred money across to them at various stages from SA Bank's - it allows direct exposure to multiple international markets at a reasonable price (but certainly not the cheapest).  I can highly recommend them.

Note however, the account was opened in a different era, where local product providers did not over reasonable offshore packages.   today - I would take a serious look at the local offerings and in particular the Easy Equities option.  So yes, I'd say go ahead.

ps.  although the acquisition of Mercantile by Capitec has been announced, sale has not yet been completed.  So Mercantile is NOT a subsidiary of Capitec.

Wegkaner:

--- Quote from: Orca on February 16, 2019, 03:59:58 pm ---After having too much trouble with FNB in money transfers (last transfer took over 2 weeks and countless emails and complaints) I have been advised by a well known FX and Cross Border Tax consultant to rather use https://currencyassist.co.za/#investing-offshore

They can open a foreign bank account for you via Mercantile, a subsidiary of Capitec at no cost and will move any amount of money back and forth at the best rates possible and in the shortest time. Same day rates so you can take advantage of FX movements.

--- End quote ---

Thank you, I will gladly assist from Currency Assist side. Being ex FNB I suggest the FNB Channel Island account more efficient as its truly outside SA. The Global account is local account in foreign denomination

Also note that Mercantile has been fully taken over and recapitalised by Capitec


Sent from my iPad using Tapatalk

Navigation

[0] Message Index