South African tax resident individuals may consider, whether for estate planning purposes or otherwise, to advance funds to offshore trusts for investment abroad.
Guernsey is a prestigious financial services centre, according to wealth management practitioners at this year's STEP conference in South Africa.
The amended BEE Codes were published in the Government Gazette of 11 October 2013.
South African residents can now invest up to R2 million abroad, and a question that is often asked is: What are the tax and exchange control consequences where the foreign investment allowance is placed in an offshore trust?
The Sovereign Group
The release of the Panama Papers has once again shone the spotlight on the offshore finance industry and many have commented and criticised.
The ongoing Finance Indaba in Johannesburg demonstrates that there remains significant interest in investment in Africa beyond the mining and natural resources sectors...