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The transition from the old emigration regime to the current regime - ceasing of tax residency, came with some relief. However, there were some silent changes that went unnoticed. The most notable change has been the requirement of a SARS Tax Compliance Status (TCS PIN) for every capital transfer a Non-Resident/Non-Tax Resident makes to offshore. The Financial Surveillance Department (FinSurv) released an Exchange Control Circular (No. 8/2021) last year which shed more light on this change:

#BehindtheBrandManager: Meet Briony Brookes for Cape Town TourismBriony Brookes is head of PR and communications at Cape Town Tourism. Spending the best part of her career in radio as head of Brand for KFM and Cape Talk, she then spent some time in the investment industry with Sanlam and Old Mutual before joining the exciting world of tourism just over two years ago. By Robin Fredericks #BehindtheBrandManager: Kate Owen, Uber SA marketing manager for Rides and EatsKate Owen is Uber SA marketing manager for Rides and Eats, based in Johannesburg. Having been at Uber for over four years, Kate ha...

RIP Dr Sindi van ZylTributes are pouring in for Dr Sindi van Zyl. The much-loved healthcare activist, DJ and social media influencer lost her battle to Covid-19 on 10 April. 365 Digital signs exclusive partnership agreement with TikTok in South Africa365 Digital is thrilled to announce its appointment as exclusive partner to TikTok in South Africa. The exclusive partnership specifies 365 Digital as TikTok's exclusive media representatives, who will be responsible for all advertising sales and account management in South Africa. Issued by 365 Digital

SA lifts long term prohibition on Loop Structures By Supplied Share The South African Reserve Bank (SARB) issued Exchange Control Circular No. 1/2021 to lift the restriction on the so-called ‘loop structure’ in order to encourage inward investments into South Africa. The reform was effective as 1 January 2021 and applies to private individuals and companies, including private equity funds, that are tax resident in South Africa. A loop structure is broadly any arrangement under which a South African resident invests in an offshore vehicle which, in turn, invests in South African assets. Pr...

2 months ago 6 min read Share with your network! The long-anticipated relaxation of the South African Exchange Control Rules relating to “loop” structures and investment was released on the 4 th of January 2021 by the South African Reserve Bank under Exchange Control Circular No. 1/2021. The “loop” structure and investments restriction were lifted to promote inward investments into South Africa, subject to the normal criteria applying to inward investments and reporting to the Fin...