Bulletin | September 9, 2022

Separating Fact from Fiction – Considerations Regarding Binding Class Ruling 080

One of the biggest challenges of modern times is sensationalism, when facts aremisrepresented to create attention-grabbing headlines or to promote self-interest. When such a situation occurs, it is vitally important to look beyond the headlines and tryto separate fact from fiction in order to see through the misconceptions that may havebeen created. Failing to set the record straight leaves people
Read More

Bulletin | March 25, 2022

International Pension Schemes

When Can Your Client Take Benefit and What Are Their Options? An important part of planning for your client’s retirement is knowing when they can start to receive funds from their Plan to have the lifestyle they want during their golden years. You can construct highly personalised retirement arrangements; however, this is all dependent on the nature of your client’s
Read More

Bulletin | February 24, 2022

Non-Habitual Residency in Portugal

Fad or the Future? Portugal, a country with a wonderful climate and warm-hearted people, has become the hottest destination1 for immigration in Europe since introducing its Non-Habitual Residency Regime (NHR). NHR is a strategic part of Portugal’s socio-economic policy developed to address the significant demographic and structural challenges of an ageing and declining population. The purpose of NHR is to
Read More

Bulletin | January 27, 2022

What is the Difference between SOW and SOF?

Discover what these widely used acronyms mean for you There has been a steady increase in criminal activity in respect of cybercrime and money laundering which has resulted in financial institutions being required to put in place more stringent measures to assist in combating crime. This means that we must pay specific attention to understand and know clients better in
Read More

Bulletin | October 14, 2021

Preserving Inter-Generational Wealth Through Succession Planning

An overview of International Pension Plans (IPP’s) One of the most important aspects of financial planning is ensuring the passing on of wealth to a spouse, family and future generations on one’s demise. However, this is one area of financial planning that can become very complex when the deceased person’s assets or accounts are in different countries, and this is
Read More

Bulletin | September 7, 2021

Reporting Requirements for Modelo 720: OPES and COPIA

It is important to understand the obligations as a Spanish resident to report under Modelo 720. This Q&A considers such obligations in respect of Foreign Pensions offered by Overseas Trust and Pension (OTAP) including OPES (Spain) and COPIA. What is the Modelo 720? It is a report that is submitted online by a person who becomes resident in Spain within
Read More

Bulletin | April 15, 2021

Lifting of the Prohibition on Loops – Opportunity or Not?

On the 4th of January 2021, not only were South African residents already planning the normal “New Year New Me” resolutions, but the South African Reserve Bank (SARB) wasted no time by following up on their statements in the 2020 Medium Term Budget speech, pertaining to the abolition on the prohibition of ‘Loop Structures’. SARB Exchange Control Circular No. 1/2021
Read More

Bulletin | December 5, 2020

South African Nationals Living and Working Abroad

This aid provides general information which may be useful to financial advisers who advise South African nationals, given the Tax changes which come into force in March 2020. It considers a number of related topics including residency, tax and several options available in respect of these. The content of the bulletin is referenced to specific sources which have authoritative standing
Read More

Bulletin | December 5, 2020

Considerations Regarding International Employee Benefits & South Africans Working Aboard Post 2020

Overview Significant criticism has been levelled at the South African Revenue Services (SARS) and National Treasury given the repeal of the income tax exemption on earnings from foreign employment, which commences on 1 March 2020. The main thrust of this criticism has come from South Africans who are ordinarily resident for tax purposes and are i) permanent employees residing in
Read More