According to several migration consultants, the interest in emigration from South Africa has increased dramatically since President Jacob Zuma’s announcement on Wednesday, 9 December 2015, that Minister of Finance, Nhlanhla Nene, be replaced by ANC MP, David van Rooyen.
Although the President, after reconsidering his appointment, named previously reassigned Minister of Finance, Pravin Gordhan, as Van Rooyen’s rapid successor, the move has not quelled investor or citizen fears.
Rise in emigration enquiries
According to Marlene Prentice, Principal owner of Migrant Network Australia, enquiries have more than doubled in the last week, and most are of a very serious and determined nature, as opposed to those enquiries of a more general and tentative nature. One of the greatest concerns for these clients seems to be that delaying their move may result in them not being able to afford emigration in future.
Dianne Acres, Managing Director of Canadian Immigration Consulting, stated that enquiries seemed to come from different fronts – those who’d been considering emigration for a while, and those who have been incited to action by the President’s latest decisions.
Though many South Africans across the country banded together in a protest dubbed #ZumaMustFall, many countrymen feel utterly deflated and helpless in facing a foreseeable economic and political crisis.
Are you ready to emigrate?
Of course, not all South Africans wish to emigrate out of fear or desperation – for some, it simply makes sense for educational, vocational and economic reasons. And, when the chips are down, logic may point towards making a shift sooner rather than later.
But international relocation is not an easy or swift move – it will take time, effort and a whole lot of admin. You may be turned down. You may suffer financial losses. You may have to leave some of your prised possessions behind. The best way to start your journey is undoubtedly to be honest with yourself about your reasons for emigration and the toll it will take on your family. Discuss it with those who have already left, as well as emigration specialists who can help your decision.
You’ve decided, now what?
You will firstly have to contact a migration specialist for the country you wish to relocate to. As countries have different immigration laws and regulations there is no cookie-cutter solution for your relocation.
Of course, as there will be cost implications to your move, you will need to consult with a financial migration specialist. Cashkows.com can assist with:
- Opening bank accounts
- Foreign exchange
- Policy transfers
- Retirement annuity transfers and financial emigration
- Change of ownership or beneficiaries
- South African tax services
- Offshore investment
- Death claims
- International financial planning
If you’d like sound advice on the road ahead, simply leave your details and we’ll contact you!