Overseas income

[Cage Rattler]

What is the most tax efficient way of receiving income from overseas projects? If you have a few clients paying reasonable amounts of dollars and pounds on a regular basis one can get them to do a simple transfer to your bank account and you treat it as normal income. Are there other alternatives, eg. making use of a company structure, etc. or something else which would be better?

 

[HavocXphere]

As long as you declare the income to SARS you're free to do whatever you want - you can keep it overseas if you like.

Personally I'd attempt to keep it in USD & GBP...its a convenient way to diversify your FX exposure a bit as its already in those. Some banks offer multi-currency accounts. I know Investec does & so does HSBC but they're a little tricky to get. Not sure about FNB etc but they should have too.

 

[koeksGHT]

As long as you declare the income to SARS you're free to do whatever you want - you can keep it overseas if you like.

Personally I'd attempt to keep it in USD & GBP...its a convenient way to diversify your FX exposure a bit as its already in those. Some banks offer multi-currency accounts. I know Investec does & so does HSBC but they're a little tricky to get. Not sure about FNB etc but they should have too.

FNB does now with their new product. You can keep it in GBP