Rich South Africans are leaving South Africa

[cguy]

And work entry level job in Canada or Australia, cause your education and experience to them seen as schooling under a tree. Speaking from feedback on people who moved in engineering and finance fields...

I haven’t found this to be the case at all. I’ve interviewed plenty of South Africans whose schooling did appear to come from under a tree, so that s actually a real concern.

Those I know who actually learned enough in their studies to pass proper technical interviews have done very well for themselves, and weren’t hindered by having an African degree. Most of my university honours year left and are principal engineers, professors or senior management now.

 

[Dairyfarmer]

This isn’t true. It depends on tax residency, which isn’t the same as financial emigration.

If you’re spending over 90 days per year in the country you could well be a tax resident and be obliged to pay taxes.

You left out the 5 year condition.

So you could not be in SA for a whole tax year, but, unless you were also out of SA for an average of 91 days per tax year over the previous 5 tax years, you are still considered a tax resident. Tax emigration lets you tell SARS and SARB that you are no longer a tax resident, so the pervious 5 years no longer count.

 

[cguy]

You left out the 5 year condition.

So you could not be in SA for a whole tax year, but, unless you were also out of SA for an average of 91 days per tax year over the previous 5 tax years, you are still considered a tax resident. Tax emigration lets you tell SARS and SARB that you are no longer a tax resident, so the pervious 5 years no longer count.

Agreed, although Financial emigration is not the same as tax emigration.

 

[Speedster]

Agreed, although Financial emigration is not the same as tax emigration.

Indeed, there is no such thing as tax emigration as a formal process. It is determined by the ordinarily resident and physical presence tests.

 

[Rudaro]

That's on my radar to move over the next few years.

But salaries and rent seem to be an issue ?
Lower salaries, but rent is still high ?
Whereabouts do you stay ?

I work in IT infrastructure and the salary is quite good. My wife didn't start working for the first 6 months, and my salary was able to cover all the expenses. Rent, groceries, internet access, mobile, etc. We use public transport and Bolt to get around, so there are no car expenses, so maybe keep that in mind as an additional cost. Had about €200 left over after expenses, but it was manageable and once my wife started working, things got easier.

Rent itself is not too bad. We stay in Mosta and rent starts from around €800 - €1500 depending on what you want. I decided to rent a 3 bedroom which costs €1000, however the place is nice and big.

 

[Rudaro]

What Visa did you get /use?
We could pay, but not €500k per visa levels...

I was fortunate to travel on an EU passport, as my parents are from Portugal. My wife just got the tourist visa and once we arrived, she was able to apply for residence as a spouse of an EU citizen.

 

[hj007]

I was fortunate to travel on an EU passport, as my parents are from Portugal. My wife just got the tourist visa and once we arrived, she was able to apply for residence as a spouse of an EU citizen.

nice. did you need an unabridged marriage certificate or was the abridged one enough? Been having a hell ofa time getting the unabridged one.

 

[HavocXphere]

Indeed, there is no such thing as tax emigration as a formal process. It is determined by the ordinarily resident and physical presence tests.

This is wrong. There is definitely something called financial emigration. It exists effectively in parallel to the residency tests

 

[cguy]

This is wrong. There is definitely something called financial emigration. It exists effectively in parallel to the residency tests

Financial emigration, yes, tax emigration is something else (and not really even called tax emigration as such). Usually notifying SARS that you are now a tax non-resident (because of said tests).

 

[Rudaro]

nice. did you need an unabridged marriage certificate or was the abridged one enough? Been having a hell ofa time getting the unabridged one.

Ours is an unabridged one. However, if I remember correctly, when we handed it over, their only question was - Is it in English?
Probably best to get the unabridged one if you can.

 

[|tera|]

I would leave right now if I could.
Just fk off into the great beyond and do what I please. It's about having money to fk off that's needed.

There's no patriotism left in me.
For my blood and for my heritage there is. Not for my life and by my own choice.
Fk patriotism.

 

[Dolby]

I work in IT infrastructure and the salary is quite good. My wife didn't start working for the first 6 months, and my salary was able to cover all the expenses. Rent, groceries, internet access, mobile, etc. We use public transport and Bolt to get around, so there are no car expenses, so maybe keep that in mind as an additional cost. Had about €200 left over after expenses, but it was manageable and once my wife started working, things got easier.

Rent itself is not too bad. We stay in Mosta and rent starts from around €800 - €1500 depending on what you want. I decided to rent a 3 bedroom which costs €1000, however the place is nice and big.

Awesome!

Ok, so your salary is pretty high then ... makes it easier.

I think an average salary is €1500.00 or less?
Making the rent pretty high relative ?
Where are your offices? Traffic from Mosta?

 

[Rudaro]

Awesome!

Ok, so your salary is pretty high then ... makes it easier.

I think an average salary is €1500.00 or less?
Making the rent pretty high relative ?
Where are your offices? Traffic from Mosta?

I would say €1500 sounds about right. IT based jobs are probably a bit higher though.
My offices are based in Ta' Xbiex, so the average trip via car during peak hour traffic is about 20 - 30 minutes. Via the bus system, it's around 45 - 60 minutes.

 

[Yskasmetnstoof]

Don't worry, we getting 4IR. Cyril said so....

 

[Yskasmetnstoof]

Rich Americans are leaving the US and setting up camp in Switzerland... It is when the average man on the street starts saving every penny to leave and willing to be a poor and nothing_person on the other side when you need to worry (which BTW is happening already just not as much yet)

Funny a guy I know is from Switzerland. He is now living in SA.

 

[Yskasmetnstoof]

No need to worry, replacements will come easily , will probably be better any way.

I know 2 public school teachers personally, that teach in average (middle class areas) schools. I'm assured that the combination of the attitudes of the previously disadvantaged towards school discipline and education in general, coupled with governments management of the education system , will all combine to ensure a surplus of talented scientists and engineers etc in this country.

A great future awaits all that remains here.

Govt will just declare them clever engineers. LIke that regop trains guy as Prasa.

 

[Jet-Fighter7700]

beginning of the end for SA?

 

[etienne_marais]

beginning of the end for SA?

Will accelerate things

 

[Jet-Fighter7700]

Will accelerate things

oh yes indeed,
glad my second passport is surgically attached to me, whether or not I want it.

 

[Kornhub]

@rpm is leaving