When you prepare to transfer money overseas – whether you’re looking to purchase equipment, pay for a service, diversify your investments, fund tuition, pay for your international accommodation or any other reason – the four steps below are critical to avoid being unduly parted with your money.
The British Pound or Pound Sterling, home currency of the United Kingdom, is the oldest actively traded currency in the world. London is one of the largest forex hubs in the world. The pound is the third most commonly held reserve currency, the sixth largest currency by GDP and the eighth largest in purchasing power parity.
Sending money offshore is a simple process. The surprizing thing is that many people waste large sums of money on fees that they didn’t know existed. Doing research and finding a transparent currency transfer specialist could save you thousands of Rands on transferring funds abroad now and into the future. Through this blog, we will provide information to you to empower you in your decision making, to transfer your funds abroad at the best possible rate with a trusted currency transfer specialist.
What should you know about international money transfers?
The critical challenges awaiting us in the next couple of months are:
Provisional tax filing at the end of February for either tax residents working for a foreign company (albeit a nil return), or non-resident’s exit tax on unrealised capital gains tax or their provisional tax on foreign earn income above the R1,25m threshold. The 2020 tax returns for these taxpayers was due on 29 January 2021
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Your tags dictates your banking and tax status. Soon it could dictate your property ownership rights should political lobbying succeed. Foreign Passport Holders & Expat South Africans, or dual nationals having lived outside SA for many ears or having formally…
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