surrender retirement annuities.
emigration.
personal allowances.
bank accounts.
tax.
inheritance.
fees.
our fees
Where cashkows.com provides services to extract and repatriate funds from retirement annuities and other insurance policies fees are payable only at the end of the process, from policy proceeds, i.e. there are no up-front fees.
For this service we also offer an early payment option which provides the opportunity to receive a 10% discount on the total fee where payment of 50% of the said total fee is made in advance. This option is available for a period of five days after appointing cashkows.com.
Fees for services other than those mentioned within this schedule will be priced on a case by case basis and advised in advance.
All fees exclude VAT which is charged at 14%.
|
SEARCH FEE |
|
Comprehensive asset search and the provision of a detailed personal report.
|
FREE |
|
EMIGRATION FEE |
|
Recording emigrant status with the South African Reserve Bank for either an individual or a family unit.
The key steps within this process include:
- reactivation of tax record with SARS (as required)
- submission of outstanding tax returns (as required)
- obtaining a Tax Clearance Certificate for Emigration Purposes
- provision of a pre-populated documentation pack
- formal application to the South African Reserve Bank
- opening of a Blocked Rand bank account or the conversion of an existing account
Our fee includes all charges levied by the Authorised Agent (min. R1 140.00) that facilitates the application and the cost of both international and local courier services.
|
Where the service is provided as an integral part of the process to extract proceeds from insurance policies. |
R8 495.00
|
Where the service is provided on a stand-alone basis. |
R9 995.00
|
|
EMIGRATION AUTHENTICATION FEE |
| If you have formally emigrated previously certain essential documentation is required to evidence such status in order to extract funds from insurance policies in South Africa. You must also have in place an active, up to date tax record and a Blocked Rand bank account. If you are unable to meet any or all of these requirements cashkows.com will be pleased to accommodate you as follows: |
Form MP336b
The copy of this document MUST bear the original stamp of the bank that facilitated your emigration.
|
R2 500.00 |
Confirmation of Emigrant Status
This can be a copy of either the official document issued by the South African Reserve Bank or a letter from the bank that facilitated the emigration process. The document must contain your emigration reference number.
| R 995.00
|
| Tax Clearance Certificate specific to Emigration
|
R 995.00
|
Letter confirming details of your "blocked" bank the account
Issued by the bank that facilitated the emigration process. (This fee will not apply if you engage our services to open a new "blocked" account).
| R 595.00
|
| South African Revenue Service; Reactivation of your tax record on a temporary basis
|
R1 000.00
|
|
Authorised Agent (bank that facilitated your emigration):
Opening of a "blocked Rand" bank account
| R2 495.00
|
| NB if you did not declare your insurance policies on the original MP336b it will be necessary to make fresh application to the Reserve Bank which will incur additional fees |
|
CASH OUT FEE | |
|
Our fees to facilitate the extraction and repatriation of funds held within insurance policies and other South African source investments is based upon the cumulative value of the assets concerned and calculated in accordance with the table below: |
|
0 – R99,999 | 4,99% (Minimum R1,499)
* |
| R100,000 - R249,999 | R5,000 + 3,49% of amount exceeding R100,000 |
| R250,000 – R499,000 | R10,985 + 2,99% of amount exceeding R250,000 |
| R500,000 – R1 000,000 | R18,460 + 2,49% of amount exceeding R500,000 |
| R1 000,000+ | Please contact us |
|
|
* Minimum fees applicable as follows: 1 policy R1,499; 2 policies R2,249; 3 policies R2,499
|
