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Author Topic: Official Immigration and Retirement Funds?  (Read 1203 times)

Offline frodo/maya

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Official Immigration and Retirement Funds?
« on: May 25, 2011, 04:49:29 am »
Hi everybody

We are in the process of starting our process with Cashcows (Retirement Funds etc.) can somebody pls tell me the consequences are of officially immigrating to NZ from SA in terms of your rights in SA? I know that you don't give up you SA citizenship but what if one needs to go back for some odd reason (not that we are considering it at all)

Thanks!

 :)

Offline Ostrich

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Re: Official Immigration and Retirement Funds?
« Reply #1 on: May 25, 2011, 08:30:27 am »
Disclaimer: not a professional here, so take this with a grain of salt, since we could be incorrect.  But, from what we understood after talking with an "authorized Forex dealer" at ABSA, once you legally financially immigrate (get the tax clearance and close up with SARS and SARB, etc), you are considered a non-resident for tax purposes. You also can't work in SA for 5 years, from what I read? Not sure how that works, but it surprised us. You also can't use your SA bank cards and credit cards once the process is complete, I believe.

The only reason we're pursuing legal financial immigration is to extract a retirement annuity while the rand is strong, assuming we get PR. 
SMC, from SA - EOI Submitted: 13 Dec 2010, EOI Selected: 15 Dec 2010, EOI Decision Successful: 04 Jan 2011, ITA Received: 06 Jan 2011, ITA Submitted: 08 March 2011, CO Allocated: 22 March 2011, Telephone Interview: 4 May 2011, Medicals clear: 23 May 2011, Residence Approved: 7 June 2011, NZ 19 July!

SA Going to NZ Advice Forum

Re: Official Immigration and Retirement Funds?
« Reply #1 on: May 25, 2011, 08:30:27 am »

Offline frodo/maya

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Re: Official Immigration and Retirement Funds?
« Reply #2 on: May 25, 2011, 09:43:22 am »
Thanks! thought so just wanted to make sure.  ;)

I just don't feel for the whole money transfer headache from SA to NZ again!! Seriously!!



 

Offline thombatt

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Re: Official Immigration and Retirement Funds?
« Reply #3 on: May 25, 2011, 10:18:40 am »
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« Last Edit: September 04, 2013, 07:42:18 pm by thombatt »