If you’re planning on moving abroad at some point in the future, start planning now

Many South Africans emigrate using low-grade information and without understanding their options.
Choosing the right country to emigrate to can get confusing when dealing with agents focused on a specific destination, such as Portugal, Canada or Australia. Image: Jason Alden/Bloomberg

The number of South Africans considering emigrating exploded after the July 2021 riots in KwaZulu-Natal and Gauteng, says Tom Barlow, director of Explore & Wealth at Sable International.

Making the life-changing decision to emigrate after an event such as this can often lead to knee-jerk reactions, based on low-grade information.

Barlow’s advice is to take a more measured approach based on all available information before deciding where and when to emigrate. “Even if you’re planning on emigrating five or 10 years from now, start planning now.

“You have several years to externalise all or some of your funds using the R1-million-a year Special Discretionary Allowance and the R10 million-a-year Foreign Investment Allowance – provided you have tax clearance from SA Revenue Service (Sars). In other words, it is better to plan these things well in advance.”

Choosing the right country to emigrate to can get confusing when dealing with agents focused on a specific destination, such as Portugal, Canada or Australia.

Sable International set out to solve this information deficit by launching Explore Report, which is a comprehensive analysis intended to help clients chart a route to global citizenship through immigration, citizenship, studying abroad or business migration.

“There are currently 75 emigration programmes that we are able to offer, and that’s extremely confusing for a client. The Explore Report is designed to solve that by getting the client to fill in a detailed questionnaire, fully compliant with data protection laws, out of which we produce a report that provides the client with a thorough understanding of the different options available, and we are able to match their goals and current cost of living to a particular destination. It’s a fantastic tool for understanding what options are available for the South African wanting to emigrate, and we have consultants who can then guide you through the best options.”

The physical act of emigration is just one step in the process, adds Barlow. Far more important to Sable is building a life-long relationship to assist clients in their journeys to build international wealth.

Huge spike in numbers of South Africans wanting to emigrate

Says Barlow: “We’ve just completed a national roadshow and the interest in emigration is unlike anything we’ve seen in the past. There is always a demand among South Africans to have a second passport, but not always because they want to leave SA. Many want to retain their ties to SA, but want a Plan B in case things get worse, and also to internationalise their wealth and give their kids an opportunity to study and work abroad.”

Wealthy South Africans are increasingly wanting to internationalise themselves

There are four basic paths to international mobility: through ancestry, skills, wealth and, more tragically, as a refugee.

Sable International’s citizenship division helps trace your family tree to determine if you have a claim to UK or EU citizenship. Based on clients’ age, education level and profession, Sable can advise what visas or passports can be applied for, as well as the costs of each and the likely time frames.

“We will determine whether you might qualify for any residency- or citizenship-by-investment programmes and which countries might be the best fit for you and your family,” adds Barlow. “Your intention may not be to leave the country now, but this knowledge of a possible Plan B or second citizenship could help shape your plans for your family’s future.”

A key motivation for emigration: better education for the children

Many people consider emigration because they want better opportunities for their children – this is often a motivation for the parents to emigrate.

The Explore Report is able to tell you how much it would cost for your child to study in various countries, such as the UK versus Australia or the US.

Sable has up-to-date databases looking at courses and universities across the world and can do a comparison of fees.

Taking it one step further, it can then see if your child could qualify for a work visa post-study, how much they could earn in the job they would qualify for, and even compare the potential salary they would earn in relation to the cost of living in that country.

Lifestyle comparison

It is also useful to compare the cost of living in South Africa against that of another country. Sable International can take a line-by-line breakdown of your expenses and compare them with the cost in other countries. “This will give you a good idea of what you need to earn in order to maintain the lifestyle you’re accustomed to,” says Barlow.

Growing your wealth in international terms

Another key motivation for emigration is the need to protect one’s wealth in international terms.

“You may not be ready to make the move overseas but it could be a good idea to know how much you would need to set aside in the event that you do need to make a sudden move. This way, you won’t be left without a safety net,” says Barlow.

“We focus our attention on stable, first-world economies, so that you can feel safe knowing that any plan implemented will enhance your family’s long-term security.”

Plan for the future, but do it now

The Explore Report, followed by a detailed consultation, ensures the client has a full understanding of the emigration options, with a road map that is flexible, long-term and logical. The Explore Report details that roadmap, its costs and how long it will take to achieve your goal.

About Sable International

Sable International’s Explore Report offers a full-scale assessment of your current circumstances and goals. Choose between the full-scale report, a lighter version that only covers your residency and citizen options, or you can even choose to explore just one aspect of the report that you want more information on.

You can contact Sable International at explore@sableinternational.com or phone at +27 (0) 21 657 1507.

Brought to you by Sable International.

Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.



Comments on this article are closed.



Instrument Details  

You do not have any portfolios, please create one here.
You do not have an alert portfolio, please create one here.

Follow us:

Search Articles:
Click a Company: