I've already completed tax emigration - can you help me?
If you have documentation showing 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 help you get your inheritance paid out and transferred overseas.
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.
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 actually quite simple.
We can help you open a bank account in South Africa and the account details can be provided to the executor for payment. If your funds are under R1m, we can transfer the full amount with no need for an Approved International Transfer (AIT) from SARS. If the amount received is more than R1m, we can apply for an AIT from SARS for the balance, showing proof of the funds available and their source.
I don't have a barcode 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 needing 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 additionally taxed on your South African inheritance once it's been paid to you. The responsibility for taxes lies with the executor of the deceased estate in South Africa and all tax will be paid before it is distributed to any beneficiary.
At Rand Rescue, we've perfected the art of helping you claim your South African inheritance.
