emigration servicesFrequently Asked Questions
If I emigrate from South Africa, do I have to relinquish my South African citizenship?
No. Emigrating from South Africa formalises your exit from South Africa for exchange control purposes. It does not mean that you have to relinquish your South African citizenship. You can retain your South African passport.
I have been living abroad for a number of years, how do I formalise my emigration?
In terms of exchange control policy, private individuals (natural persons) who reside permanently in a country outside the Common Monetary Area are required to formalise their emigration by completing a Form MP336(b).
Your emigration should be formalised through a local commercial bank of your choice in South Africa as follows:
- Complete a Form MP336(b) – Emigration: Application for foreign capital allowance.
- Apply for a Tax Clearance Certificate
- If you have resided permanently outside South Africa for a period longer than five years and you do not possess any assets other than an inheritance or insurance policies, it would not be necessary to obtain a Tax Clearance Certificate – Emigration.
- Submit the Form MP336 (b) and the Tax Clearance Certificate – Emigration, if applicable, to the bankers attending to your emigration. You will also have to submit any other documentation as required on the Form MP336 (b), which includes a copy of the permanent residence permit, if you have been granted permanent residence abroad.
Can I transfer the proceeds from the insurance policy directly to my overseas bank account?
Yes. The proceeds from insurance policies may be transferred directly to the emigrant abroad where the emigrant has no bank account in South Africa, provided the person’s emigration has been formalised and that the foreign capital allowance limit will not be exceeded.
South African Retirement Annuities?
Retirement annuities in South Africa can transfer the full capital value of your South African RA`s offshore before age 55