The Process

An Emigration Questionnaire and a Client Consent form is available on our website, where the client authorises us to obtain updated policy values. A Schedule with fund values will be sent to the client, quoting our fee to handle the complete emigration process.

We will then obtain the client’s tax status from SARS and advise the client. Before we can start the emigration process, a client’s tax account must be up-to-date, e.g. no returns outstanding or taxes outstanding. We use the information you supplied on your Emigration Questionnaire to send you the completed forms and a list of the required supporting documents which the Banks and SARS require.

These documents include the MP336 (b) Emigration Application, the IT21(a) Emigration Tax Clearance Certificate Application that SARS require, and bank account opening forms (if required). When we receive the completed forms and supporting documentation from the client, the process can start.

We have a copy of the Form MP336 (b) certified by the bank for SARS.
We lodge the certified copy of the Form MP336b, and supporting documentation with SARS.
SARS issue the Emigration Tax Clearance Certificate.
We lodge the original Tax Clearance Certificate with the bank, together with supporting documents.
The bank applies to the South African Reserve Bank (SARB) for an Exchange Control Approval Number (ECA), and opens a blocked account in the client’s name. If the client has an existing bank account, the bank account is changed to a blocked account upon receipt of the documents.
After the blocked account is open and Exchange Control Approval is received, we submit the client’s surrender document to the assurers.
The assurer applies for a Tax Directive from SARS and the funds are paid into the client’s blocked bank account.
Once all funds appear in the client’s blocked account, the relevant documents confirming emigration and Exchange Control approval are sent to the client.
The client signs an instruction for the bank to pay our fee and transfer the balance to the client’s destination of choice.
The final tax submission will be done for the client and the tax account deactivated if required.

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The complete process, from the time documentation is received by us, takes approximately 4 to 6 months.