The Process

Helping you with
financial emigration

The process can take anything from 4 - 6 months, but we keep the client informed every step of the way and our fees are paid at the end of the process when your funds are ready to be transferred to your nominated foreign bank account.

Allow us to assist you. Contact us for an obligation free quote for our services.

The Process

An Emigration Questionnaire and a Client Consent form is available below, 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 process.

We will then obtain the client's tax status from SARS and advise the client. A client must be tax compliant before the process can start. We use the information you supplied on your Emigration Questionnaire to send you the completed forms and a list of the supporting documents required by the Banks and SARS.

Emigration Questionnaire
Client Consent Form

The forms are in Adobe PDF Format and if you do not have a PDF Reader then you can download and install it from https://get.adobe.com/reader/

Changes applicable
from 1 March 2021

The South African National Treasury phased out the concept of formal emigration. From 1st March 2021, taxpayers will no longer be able to access their retirement benefits upon completion of the financial emigration process through the South African Reserve Bank (SARB).

From 1st March 2021, South Africans will be required to prove that they are a non-tax resident for an uninterrupted period of three years, before they can cash in their Retirement Annuities.

This means that if you are in the process of permanently relocating overseas, it will not be possible to withdraw your Retirement funds immediately and you will need to wait at least 3 years after relocating to access SA Retirement funds.

The ZAROut Process

The Process

  • The Emigration Tax Clearance application is lodged with SARS, as well as the application for Non-Residency Tax Compliance Status.
  • SARS issue the Emigration Tax Compliance Status (TCS) Pin & Verification, and the letter confirming Non-Resident Tax Status.
  • After the bank account is open, we lodge the surrender of the policies with the assurer.
  • The assurers apply for the Tax Directive from SARS and the funds are paid into the client's South African bank account.
  • Once all funds appear in the client's bank account, the relevant documents are sent to the client.
  • The client signs an instruction for the bank to pay the ZAROut fee and the balance is transferred to the client's destination of choice.
  • The final tax submission will be done for the client and the tax account de-registered if required.