Have you invested money overseas? What happens to that money when you die? When it comes to foreign investment, it can be confusing as to what and what’s not allowed.
The Gareth Cliff Show team talks to Paul Nicholson to learn more about #OffShoreMoney.
The Gareth Cliff Show – 8 June 2016
This week, various investment options are discussed by Gareth Cliff and the team. How much is an individual allowed to take out of the country for the year? They also look at the exchange rate control mechanism offered by the Reserve Bank. How does the inflation rate affect the return on investment? Get tips to help you make better decisions for your money. St. James Global is an authorised financial services provider.
The Gareth Cliff Show – 4 May 2016
To get more clued up on #OffshoreMoney, Gareth Cliff chats to Paul Nicholson from St. James Global about the difference between offshore retirement trusts and discretionary trusts. The light also gets shed on these investments, along with how to save yourself from the duties and taxes associated with inheritance, withdrawals and other costs that could be incurred. St. James Global is an authorised financial services provider.
The Gareth Cliff Show – 30 March 2016
With constant changes being made to international investment laws, are you sure that you and your future heirs are safe from the changes that might occur? In this edition of #OffShoreMoney, Gareth Cliff is joined by Rex Cowley of Overseas Trust and Pension to break down the complex world of offshore investing. This is part of St. James Global‘s mission to educate and change offshore investors in order to protect offshore wealth and pension funds for South African residents. Ensure you know what you need to know, after all, it is your life’s work at stake. St. James Global is an Authorised Financial Services Provider.
The Gareth Cliff Show – 2 March 2016
When it comes to foreign investment, it can be confusing as to what and what’s not allowed. In fact, being a beneficiary of an offshore trust was highlighted in the 2016 budget – what happens to your overseas money when you die? There has been significant changes with regards to overseas funds and how SARS treats you if you’re a South African tax payer. Well, Paul Nicholson from St. James Global gives you the answers as well as an introduction to investing money offshore. St. James Global is an Authorised Financial Services Provider.
Paul Nicholson of St. James Global has been assisting South African tax residents for over 30 years with the structuring, management and administration of assets held offshore.
Having experienced significant changes in legislation, both in South Africa and abroad, in particular in recent months with the Automatic Exchange of information Act, the OECD Common Reporting Standards and the changes in international tax legislation, which could have a significant impact on South African Tax Residents with assets in offshore jurisdictions, St. James Global are possibly better placed than most other offshore advisors to assist with one’s financial planning needs offshore.
There are now over 90 countries globally participating in the Automatic Exchange of Information between tax authorities and regulators resulting on automatic disclosure of assets held in virtually any foreign Jurisdiction and virtually any type of structure, be it a company, trust, bank account etc.
There has been significant change in how tax authorities around the world look at discretionary trusts and in terms of how SARS treat you if you are a South African tax resident Settlor or Beneficiary of an offshore trust – this was highlighted in the 2016 budget speech in South Africa. You may be blissfully unaware that anti-avoidance rules could apply to your offshore structure and investments. Establishing a foreign pension fund in a well-regulated offshore environment like the Channel Islands could be a suitable alternative to hold and manage foreign assets.
Their focus is in preserving and protecting offshore wealth and creating succession planning structures to ensure that worldwide assets pass onto future Heirs immediately and without being subject to probate, IHT and other complications both SA and Abroad – this is very important if you have funds offshore.
St. James Global is an Authorised Financial Services Provider