South Africa’s decision to tax expats and overseas workers on their foreign income is totally unjust, highly discriminatory and achingly regressive, says deVere Group founder and chief executive Nigel Green.
South Africans living and working in no and low tax jurisdictions will no longer be exempt from paying tax on their overseas earnings from March 2019 under proposals from the country’s Revenue Services (Sars).
Life insurer Old Mutual International (OMI) has launched an offshore bond for advisers in the Middle East and Africa as part of a revamp of its global offshore bond range.
A second Isle of Man director of South Africa-headquartered Louis Group, which saw 700 investors lose at least £60m ($78m, €67.4m), has been disqualified as a director.
UK insurer Prudential is set to “redefine” the Nigerian life insurance industry after acquiring a majority stake in Zenith Life and forming exclusive bancassurance partnerships with Zenith Bank in Nigeria and Ghana.
Five Asian and three European cities were among the 10 most expensive places for expats to live, with the dubious honour of being the most expensive bestowed on the capital of Angola.
With South African clients focused on overseas investment opportunities, local wealth manager Private Client Holdings (PCH) uses investment science rather than psychometric testing to advise clients.
With game-changing regulation on the horizon, Kieron McRae, development and brand director at South African advice firm Carrick Wealth, talks about how the industry and can only thrive by becoming more professional and investing in training the next generation of advisers.
In April, a committee set up to review South Africa’s tax system unveiled plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality and a dwindling tax base. Here we look at the reasons it’s unlikely to work.
When South Africa’s Retail Distribution Review (RDR) is fully introduced, product suppliers to IFAs will be held much more accountable for customer outcomes, according to Caroline da Silva of the country’s main regulator, the Financial Services Board.
South Africa-headquartered asset manager Investec has announced it will expand into offering life insurance to its clients.
South Africa’s financial services group Sanlam and leading insurer Santam have increased their stake in Morocco’s SAHAM Finances for $329m (£254m, €298m).
