Preserve and grow your wealth offshore
With risk on the increase around the world, diversification is critical to preserving wealth for future generations. This is particularly true in South Africa, where currency volatility, ratings downgrades and political uncertainty can unsettle the nerves of even the most hardy investor.

All South African citizens, if they are able to do so, should consider investing a portion of their wealth offshore. The annual allowance offered by the government gives you the option to diversify risk and take advantage of the following benefits:

  • Offshore investment reduces risk of rand exposure for that portion of your wealth.

  • You can preserve your wealth through off-shore structures that are in hard currency.

  • In South Africa, the national exchange control allows each individual R10 million for investing offshore. However, there are no restrictions where a person with assets offshore needs to bring funds back into South Africa.

It pays to plan ahead
The reality is that political risk and falling commodity prices have an impact on currency and this is not unique to South Africa. When currencies depreciate, it is therefore prudent to have other options, like offshore investment.

An optimal level of offshore diversification can protect your portfolio and, when combined with long-term goal setting, will ensure that your financial and legacy objectives can all be achieved. However, the building blocks need to be put in place early to ensure that your money or assets are housed safely offshore in a trusted jurisdiction.

Talk to us about your offshore portfolio
As a Wealth and Investment client you have access to a comprehensive range of offshore solutions, designed to meet your needs on both a personal and business level.

These include transactional banking services, capital protected products, offshore funds, asset management and investment and fiduciary services.

To find out more about how our offshore solutions can help you to manage, grow and protect your generational wealth, please contact your Relationship Manager.
 
 
Kuhle Kunene
Head: Wealth Advisory, Wealth and Investment
 
 
 
     
 

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