I've already completed tax emigration - can you help me?
If you have documentation to prove you have already completed formal financial emigration with the South African Reserve Bank (before 1 March 2021) or tax emigration with the South African Revenue Service (after 1 March 2021) we can assist you to get your inheritance paid out and transferred abroad.
If you have never been tax resident in South Africa, you'll need a South African non-resident bank account to receive and transfer your inheritance out of South Africa.
I haven't completed tax emigration yet - what now?
If you have not previously completed financial emigration or tax emigration, and still have your green barcoded ID book or smart ID card, and had a South African tax number in the past, the process is quite simple.
We can assist you with opening a bank account in South Africa and the account details can be provided to the executor for payment. If your inheritance is under R1m, you can transfer the full amount with no need for an Approval International Transfer (AIT) from SARS. If the amount received is more than R1m, we can assist you to apply for an AIT from SARS for the balance.
I don't have a barcoded ID book - what now?
With recent changes at SARS, if you meet certain criteria you may be able to open a non-resident account in order to receive your inheritance without the need to complete tax emigration.
If you don't meet all the criteria, you can still receive your inheritance by completing the formal tax emigration process through SARS.
What about inheritance tax?
Rest assured; you won't be taxed on your South African inheritance in South Africa once it's been paid to you. Any applicable South African taxes are paid by the Estate.
At Rand Rescue, we have perfected the art of helping you claim your South African inheritance.
