Currency Partners

South Africa’s property market offers attractive investment opportunities for non-residents, combining relatively affordable prices with the potential for significant returns.

The process of purchasing property in South Africa, while straightforward, involves several key steps, especially for international buyers. For non-residents, one crucial aspect of this process is the currency exchange, which can significantly influence the overall cost due to fluctuating exchange rates.

Continue reading to learn more: https://shorturl.at/YtTYE

Property Investment in South Africa: A Guide on Hedging for Non-Resident Buyers | Currency Partners Foreign loans can be a valuable source of finance for South African entities and property investors. However, it's essential to navigate the intricacies of exchange control regulations and understand the risks and benefits involved.

In the dynamic landscape of foreign exchange, South African residents often find themselves seeking effective solutions for sending money abroad.

In this article, we explore some of the more common ways that South African residents can send money abroad, one being the utilisation of Individual Annual Allowances, and the new approval process for international transfers (AITs) and another being Tax Emigration where we will highlight some of the key differences from its predecessor, Financial Emigration.

South African Residents Sending Money Abroad | Currency Partners In the dynamic landscape of foreign exchange, South African residents often find themselves seeking effective solutions for sending money abroad.

The Reserve Bank’s prudent approach to monetary policy has brought down our headline consumer inflation, which is on its way to moving below SARB’s target mid-point of 4.5%.

This means the increase in the pricing of the goods and services we consume is slowing.

Any property investor should be looking at the current situation and only seeing opportunity.

Why the recent interest rate announcement is good news for South Africa property investors South African residential property is currently great value, especially with declining debt costs and a positive economic outlook.

Residence by investment programs are becoming more sought after by South Africans looking to either emigrate or secure residency by investing in a property abroad.

To maximise the purchasing power of your foreign currency, we recommend that individual’s partner with a reputable specialist foreign exchange provider that can offer you the most competitive exchange rates to make your money go further.

With target rate alerts and automatic market orders, your provider can help ensure that you never miss out on a favourable market price and with dedicated dealing, they can help manage your currency risk by securing exchange rates in advance.

Learn more: https://tinyurl.com/smywd33k or
Speak to one of our experts: https://tinyurl.com/k5a84pfm

Investing in property abroad? What your Foreign Exchange provider should be offering you. | Currency Partners As South Africa’s largest specialist foreign exchange provider, Currency Partners will add value to you and your clients.

One of the pressing issues in the wealth management industry arises from the considerable number of South African estate beneficiaries residing abroad.

Consequently, in instances of a deceased estate, funds are often transferred to beneficiaries located overseas. Navigating the intricate landscape of exchange control regulations during the coordination of these transfers adds an additional layer of complexity.

Our regional property team manager, Tania Mancini, sheds light on the intricacies involved in estate late transfers, particularly when offshore beneficiaries are involved.

Boutiques Connect I Currency Partners I Inheritances and Estates One of the pressing issues in the wealth management industry arises from the considerable number of South African estate beneficiaries residing abroad. Consequently, in instances of a deceased estate, funds are often transferred to beneficiaries located overseas. Navigating the intricate landscape o...

The market was whipsawed last week by South African politics and, well, more South African politics. The Rand traded between a low of R17.95 and a high of R18.52, eventually closing at R18.18 to the Dollar, reflecting a 3.15% weekly range and briefly returning to the mid-R18s.

MyCURRENCY News | Week 27 2024 | Currency Partners Currency news update from our Dealing Desk

Thinking about buying property in South Africa as a non-resident?

If you're considering investing in South African real estate, here's what you need to know about financial assistance and associated costs.

Non-residents purchasing property in South Africa: Financial assistance and costs | Currency Partners As South Africa’s largest specialist foreign exchange provider, Currency Partners will add value to you and your clients.

Millennials are poised to be the wealthiest generation in history, but are they ready to handle the large inflow of money?

A vast $90 trillion wealth transfer over the next 20 years will likely make millennials “the richest generation in history," according to estimates from global real estate consultancy Knight Frank.

💸

Millennials are ‘very ill-prepared’ to be the richest generation in history, wealth manager says Millennials are purportedly poised to be the wealthiest generation in history, but are they ready to handle the vast inflow of money?

Global markets: An interesting insight into the top countries, ranked by money received from abroad, in current U.S. dollars, based on 2000-2023 data.

Specifically, these transfer totals shown represent personal remittances, or money sent between residents and non-residents, including personal transfers and compensation for work done abroad. It does not include, and is separate from, foreign investment.

Ranked: Countries Receiving the Most Remittances From Abroad The top 10 countries by money received from abroad have seen a major shift through the years. Only three have stayed put.

If you’re transferring money internationally, you’ll want to ensure you’re making the most of your money. Whether you’re sending money abroad for family and friends, or investing offshore, you may wish to manage your exposure to currency risk and protect your funds from unwanted exchange rate movements.

While there are many foreign exchange solutions available to help you minimise risk and maximise savings, forward contracts may be the solution most worth your time.

What is a Forward Exchange Contract and how do you enter one?

Let’s explore: https://shorturl.at/NzeKq

Within the South African context, property can be owned individually, jointly in undivided shares or by an entity such as a company, close corporation or trust or a similar entity registered outside South Africa.

However, there are certain procedures and requirements which must be complied with and this article provides some insight into the Offer to Purchase for foreigners purchasing property in South Africa.

Non-residents purchasing property in South Africa: The Offer to Purchase | Currency Partners There are certain procedures and requirements which must be complied with when foreigners purchase property in South Africa.

Foreigners are increasingly seeing the value of purchasing property in South Africa as either a second home, a holiday home, or an investment property.

There are certain procedures and requirements which must be complied with and this article provides some insight into Exchange Control and Tax for foreigners purchasing property in South Africa.

Non-residents Purchasing Property in South Africa: Exchange Control and Tax | Currency Partners As South Africa’s largest specialist foreign exchange provider, Currency Partners will add value to you and your clients.

Foreign Loans in Real Estate

Investing in property can be a lucrative venture for both residents and non-residents alike, but navigating the exchange control regulations regarding cross border funds coming into South Africa can be daunting.

When an individual or institution makes the decision to purchase a property in South Africa with loan funds from overseas, the flow of funds into South Africa will be regarded as a Foreign Loan.

Read more: https://shorturl.at/MQ6Rs

Foreign Loans in Real Estate: Navigating the Regulations of Incoming Funds | Currency Partners Foreign loans can be a valuable source of finance for South African entities and property investors. However, it's essential to navigate the intricacies of exchange control regulations and understand the risks and benefits involved.

A Map of Global Happiness by Country in 2024 😀

Assessing national happiness levels offers insight into collective well-being.

While many inspiring teachings exist about attaining individual happiness, it’s worthwhile to consider how happy entire countries are on a collective scale.

The 2024 World Happiness Report delves into this, drawing from Gallup data to quantify and compare happiness worldwide.

A Map of Global Happiness By Country in 2024 While many teachings exist on individual happiness, it's worthwhile to consider how happy entire countries are on a collective scale.

Investing in property is a significant financial decision that comes with its share of complexities, particularly when it involves crossing international borders.

However, understanding the intricacies of South African Exchange Control Regulations, when bringing money into South Africa is crucial for a smooth and successful investment journey.

Non-residents investing in South African property from abroad | Currency Partners Currency Partners assists international clients in transferring funds from abroad for property purchases or when sellers are remitting funds from the proceeds of a sale to an offshore account.

As individuals increasingly explore opportunities beyond their home countries, selling property abroad has become a common occurrence.

For non-residents selling properties in South Africa with the intention of moving funds abroad, understanding the implications of capital gains tax (CGT) is paramount.

Learn more: https://shorturl.at/72Sty

Navigating Capital Gains Tax When Selling Property in South Africa as a Non-Resident | Currency Partners Your annual allowances explained

There are 180 currencies across the globe that circulate in 197 countries. While notes and coins are the traditional forms of currency used, there have been some weird iterations of this trade of exchange.

We all know about the first iterations of currencies being seashells, salt, cocoa beans and jewellery, but there are some more interesting tales about currency that tells us what was happening in the world at that time.

Every currency has a story | Currency Partners As South Africa’s largest specialist foreign exchange provider, Currency Partners will add value to you and your clients.

In simple terms, a foreign loan is when a person or entity borrows money from an individual or an institution located in another country, using a currency different from their own.

For example, a property investment where the property is purchased as an entity, but the funds are transferred into South Africa by an individual to fund the purchase.

Learn more: https://shorturl.at/tBDKM

When it comes to claiming a foreign inheritance bequeathed to you abroad from a South African estate, irrespective of whether you are living in South Africa or not, there are some important facts you should be aware of. Currency Partners can assist with these applications along with any related exchange control matters.

https://currencypartners.co.za/private-clients/inheritance-of-an-offshore-asset/

Are you considering emigrating, purchasing overseas property, or planning to embark on an exciting adventure abroad?
At Currency Partners, we're here to support you every step of the way, ensuring your hard-earned money goes further while providing you with unmatched pricing and exceptional service.

Currency Partners is looking forward to an exciting day at Private Property's Real Estate Industry Summit, where we are joined by industry thought leaders for insightful talks on topics from real estate trends to market challenges and everything in between.
Tania Mancini, Leigh Holing and Angela Paget

Building tomorrow, together!

We are a Client Account Executive for the Property sector in Cape Town, Western Cape.
Contact [email protected] to find out more and apply or share this post with your network.

We are a Business Consultant for the Property sector in Cape Town, Western Cape.
Contact [email protected] to find out more and apply or share this post with your network.

South African legal experts are faced with the challenge of having globally based clients, whether they are South Africans living abroad or foreigners living in South Africa. Our expert Partnership Team applies their in-depth knowledge and specialist experience to help you navigate the complexities of Foreign Exchange requirements with our unique currency solutions.

https://currencypartners.co.za/market-news/attorneys-partnerships/

Understanding the ins and outs of inheritances for South African beneficiaries residing abroad can be a challenging endeavour, given the numerous regulations and procedures involved.

Whether you are a bona-fide non-resident, a resident temporarily abroad, or a resident permanently abroad who has concluded Tax Emigration or Financial Emigration, Currency Partners is here to help simplify the complexities and ensure a seamless transfer of assets.

Find out more here:
https://currencypartners.co.za/partner-news/inheritances/

Are you considering emigrating, purchasing overseas property, or planning to embark on an exciting adventure abroad? At Currency Partners, we're here to support you every step of the way, ensuring your hard-earned money goes further while providing you with unmatched pricing and exceptional service.

As a real estate agent, you strive to stay ahead of the market, grow your business and bring the best value to your clients.

At Currency Partners, we're dedicated to helping you achieve this by building lasting partnerships based on mutual trust, premium service and shared values.

Currency Partners, together with our tax and emigration specialists, offers its clients assistance with Tax Emigration in conjunction with our foreign exchange services. So, whether you’re thinking of emigrating, buying overseas property, or simply moving abroad for a few years, we’ll help your money go further by giving you access to the best pricing and service in the market.

Whether you’re thinking of buying your dream home in South Africa or abroad, or simply need to make a foreign currency transfer, we’ll give you access to the best pricing and service available in the market so you can make significant savings and enjoy the experience.

We are proud to participate in the DVH KZN 2023 Annual Roadshow in KwaZulu-Natal, surrounded by industry experts and engaging in dynamic knowledge-sharing and networking opportunities.