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Consulting & Services

Non Resident Property Consultancy

Non Resident Property Consulting & Services

Anybody that has ever purchased property before knows that the excitement of finding the perfect home can be quickly lost under a pile of paperwork. 

Add to that the complexities for Non Resident buyers and suddenly your new investment feels more like a liability than a place where your money can grow.

The SA Reserve Bank has certain rules and regulations for the introduction and repatriation of funds with regards to property sales and purchases. 

These intricacies can in some cases mean that Non Residents may struggle to get their funds out of the country should they sell their property in the future.

We can take of all the legwork to ensure correct procedures are followed, preventing any issues or delays, should you decide to sell your asset in the future.

Our extensive knowledge and experience in this field ensures that it is a simple and hassle-free experience.

Consulting & Services

Explanation of SA Reserve Bank Rules and Regulations

What requirements there are for the introduction and/or repatriation of funds for South Africa, pitfalls to look out for and where best to transfer your funds to.

Introduction and Repatriation of Funds

Tailored advice and assistance for the introduction and/or repatriation of funds, specific to your individual needs

South African Emigration

Advice and assistance on financial and tax migration issues when emigrating.

Non Resident Bank Accounts

Assistance with opening of Non Resident Bank Account. This can be arranged without you being in the country through our partnerships with some of the banks.

Commissioner of Oaths

Certification of legal documents that may be required for property or other transactions.

Last Will & Testaments

Drawing of Last Will and Testaments for clients with assets in South Africa. This ensures that wrapping up of an Estate is made easier.

Foreign Exchange

Our FX partners offer our clients bespoke currency solutions to best suit their needs while providing savings on exchange rates.

Property & Rental Advice

Advice on property related matters such as renting out your property as a Non Resident and more.

Tax Matters

Non Res SA works in conjunction with a tax specialist for all tax issues for our clients, both Non Resident and South African.

Financial Investment

Working in association with an excellent investment advisor for those who wish to explore investment options in South Africa.

South African Deeds Registry & Property Transfer Process

South Africa boasts one of the best deeds registries in the world.
After finding a property that you like and want to buy, you will be required to sign an Offer to Purchase/Agreement of Sale. This document states information such as the seller and purchaser details, the sale amount, any suspensive conditions, and any further information needed. Please note that unlike many other countries throughout the world, once signed, this document becomes a valid and legally binding contract from which neither party can withdraw without incurring various legal consequences.

The signed Offer to Purchase/Agreement of Sale is then sent to a Conveyancing (Property Law Process) attorney who will attend to the registration of the property. The nominated Conveyancer (Attorney) acts on behalf of the seller. Purchasers are not required to have an attorney but can appoint one to supervise the transaction on their behalf if they wish to do so.

The Conveyancer will apply for a Rates Clearance and Valuation Certificate and will follow up on the fulfillment of any suspensive conditions, such as confirmation of the purchase price or confirmation of a mortgage bond approval if applicable.

All the costs pertaining to the transfer are for the account of the purchaser, as well as Transfer Duty (a tax payable to the Receiver of Revenue). Transfer documents are drawn up by the Conveyancer for signature by both seller and purchaser. Once these are signed, all costs are paid and everything is in place, the documents are lodged in the Deeds Office. The examination process in the Deeds Office takes 10 – 14 days to come “up for registration”. Once “up for registration” the Conveyancer has five working days to finalise all outstanding issues and can then register the transfer. The entire process from signature of the Offer to Purchase/Agreement of Sale to the actual transfer date can take up to three months.

After registration of transfer, the new Title Deed (Ownership Deed) takes approximately two to three months to come out of the Deeds Office and is sent to the Conveyancer who then forwards it to either the Bond Attorney (if a Mortgage Bond has been taken over the property) or to the Purchaser.

Frequently Asked Questions

Yes, a Non Resident can take out the full proceeds of the sale of property provided the client can prove the original introduction of the funds from abroad when the property was purchased. Clients who are unable to provide this proof, Non Res SA can make a Special Application to the SA Reserve Bank for permission to repatriate the funds. Please also note that there will be Withholding Tax that applies when selling your property.
You do not need a visa to purchase property in South Africa if buying without entering the country. However when visiting South Africa you will require a visa. Depending on your country of origin, this may be needed to be applied for in advance of arrival, but most visitors are able to obtain a visa on arrival. Please check entry requirements prior to arriving in the country.
Non Residents can apply for a Mortgage Bond of up to 50% of the purchase price/funds introduced into the country from a foreign source. You will be required to supply proof of income together with further supporting documents. Our network of Mortgage Originators will be able to advise you further on options for Mortgage Bonds for Non Residents.
Yes, Non Residents and South Africans can purchase a property together. It must be noted though as regardless of the percentage split for funding the purchase, the Non Resident can only take out 50% of the sale proceeds when the property is sold. This is a rule of the SA Reserve Bank.
Yes, and all proceeds from rental are able to be repatriated. You will need a Non Resident Bank Account for rental payments and the Lease Agreement will need to be lodged with the bank as proof of where the funds originate from.
No, a bank account is not required however it can be useful for payment of property rates and utility bills etc. If you’re wanting to rent out your property, a Non Resident Bank Account will be needed to receive rental payments.
No, Non Res SA assists clients in various aspects relating to the introduction and repatriation of funds for SA Reserve Bank exchange control. We do however work in association with Foreign Exchange companies to offer our clients competitive rates of exchange.
If you did not finalise your Financial Emigration (and have proof thereof) you will still be regarded as a SA resident in terms of the SA Reserve Bank. In recent years rulings have been updated and changed and now you would need to apply for a Tax Migration.