Offshore planning affects any South African resident that owns assets or investments in countries outside of South Africa. In addition to offshore investments, it covers areas such as offshore wills, offshore bank accounts, offshore trusts and tax planning for investment and career income earned abroad. Despite the strengthening of the Rand in recent years, divesifying a portion of your investment portfolio still makes excellent sense. This is a specialized area, and the services of a financial planner operating in this field is essential.
Wikipedia Definition:
"Offshore investment is the keeping of money in a jurisdiction other than one's country of residence. Offshore jurisdictions are a commonly accepted solution to reducing excessive tax burdens levied in most countries to both large and small scale investors alike. Locations favored by investors for low rates of tax are known as offshore financial centers or (sometimes) tax havens."
Offshore solutions are accessible to anyone who can meet the minimum investment amount or pay the obligatory fees required to open such an entity.
