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EMIGRATION 101

The Practical Implications of Becoming a
South African Tax Non-Resident

Another Insightful INN8 webinar

Planning properly for emigration and the process of becoming a South African tax non-resident is vital for advisers to understand in the context of tax, exchange control, and financial planning and advice.

For our last webinar of the year, host Jennifer Anderson returns for the second installment of her emigration series, this time with guest Cobus Kruger, co-author of The Practical Guide To Offshore Investments.

The focus will be to unpack the practical implications that South African financial advisers should consider when advising clients embarking on the emigration journey. We will also explore whether it is practically possible for South African advisers to maintain advice relationships with clients that are emigrating

Register now to join us for this fascinating discussion with an industry expert.

Date: 1 December 2023
Time: 9 AM – 10 AM
CPD: TBC

Learning outcomes include

Emigration is a widely used term today, in the past “financial emigration” was used as a term to describe the financial implications of leaving South Africa. The concept or term “financial emigration” have become absolute as result of recent regulatory changes.

The correct description is “becoming a South African Tax Non-Resident” and the focus in context is on the tax, exchange control and financial planning or advice implications as a result of such a status change. 

The focus of this webinar will be to unpack the practical implications that South African financial advisers have to deal with when advising clients embarking on the emigration journey. 

Is it a threat or an opportunity? 

The practical implications we will cover include: 

  • Impact on South African Life Insurance Policies
  • Impact on South African Retirement Pots
  • Impact on Offshore Endowments

Lastly we will touch on whether it is practically possible for South African advisers to maintain advice relationships with clients that are emigrating or clients with beneficiaries that have emigrated.

There is a potential immigration opportunity, which is spectacularly ignored, and have long been a very vibrant and active market segment in South Africa.

Learning outcomes:

  • Correct terminology and focus on what exactly is means to emigrate from a financial perspective
  • Planning and advice in advance is essential
  • Consider the use of international life insurance policies and ensure beneficiaries to South African policies have their SA tax status formalised in advance
  • Plan for the eventual externalisation of retirement assets
  • Restructure offshore endowments because the consequences could be dire

The speakers

Jennifer Anderson

Jennifer Anderson

Senior Technical Specialist
INN8

Jennifer Anderson joined the INN8 team in early 2020 as Head of Investment Platform Product & Communications after heading up Product development for the STANLIB Platform since 2017. Jennifer specialises in the retail investment industry specifically in the areas of investment platforms, product design and management, regulation, compliance and process optimisation.

Prior to joining INN8, Jennifer held a senior platform strategy and management role at Hollard Investments and was one of the founders of the Wealthport Platform. Jennifer is a Category III Key Individual and has a Bachelor of Business Science and Information systems cum laude from the University of Cape Town.

Jennifer’s passion is enabling financial freedom, she’s been saving for retirement since she was in the womb!

Cobus Kruger

Cobus Kruger

Co-author
The Practical Guide To Offshore Investments

Cobus founded various businesses focusing on international fiduciary and investment solutions for South Africans since the first relaxation of Exchange Controls in 1996.

Cobus has 27 years’ experience in financial services, primarily focused on the international investment market. Previous positions include head of Discovery Invest International, CEO of Sanlam Global Investment Solution and Head of Product & Investments at Glacier International.

Other previous roles have been largely concentrated on developing products, investment management, legal and tax structuring at Old Mutual International, New Star Asset Management, TriAlpha Investment Advisors Limited & the Stonehage Group.

Cobus has a B.Com (Law), an MBA, an Investment Management Certificate from the CFA Institute and have most recently completed an executive program focused on Artificial Intelligence from MIT and applied Data Science from Columbia University. In addition, he has been a member of STEP (Society of Trust and Estate Practitioners) since 2002. RE1 and RE5.

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