A conveyancing attorney manages the legal transfer and registration process. Specialist advice may also be required regarding tax, exchange control or ownership through a company, trust or other entity.
CAN A FOREIGN PURCHASER APPLY FOR A BOND?
Qualifying foreign purchasers may apply for finance from a South African lender.
The amount available depends on the lender’s criteria, the applicant’s affordability, residency status, deposit, supporting documents and the property being purchased. A larger deposit may be required than for a locally based applicant.
KEEP A CLEAR RECORD OF FUNDS
Foreign purchasers should retain clear evidence of funds introduced into South Africa.
Proper banking and exchange-control records may be important when rental income or eventual sale proceeds are transferred out of the country.
DOES BUYING PROPERTY PROVIDE RESIDENCY?
No. Purchasing property does not automatically provide the owner with South African residency, citizenship or unrestricted entry into the country. Immigration requirements remain separate from property ownership.
Risi-Pro provides international purchasers with property investment advisory, licensed bond origination, accounting, tax coordination and agreed local support.
Hands-on managing agent services for bodies corporate, homeowners associations and new developments.
Licensed assistance with South African home loan and mortgage applications.
Local support for South Africans abroad and international investors with property interests in South Africa.
Practical support for owners reviewing performance, finance, growth and longer-term property plans.
Property-led accounting, public officer services and specialist tax coordination through our professional partner.