for subscribers

Establishing a 2nd residence outside SA

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

The benefits for South African firms include the chance to earn revenue in a currency stronger than the rand, such as pound sterling, euro or US dollar.
 
But this means that business owners and their key staff need to spend an increasing amount of time travelling to new and potential clients elsewhere in the world. This presents a number of challenges – among them, accommodation and ease of access to destinations outside South Africa.

If the business focuses on a particular country for its new markets, it could make good sense to acquire a property there so that accommodation needs can be easily addressed. Sometimes, owning a property may also be a route to gaining citizenship rights and an additional passport.  

“Holding a second passport is particularly useful for South African business owners,” explains Sandra Woest, senior manager of Henley & Partners South Africa, specialists in residence and citizenship planning.  

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.48
(-0.28)
ZAR/GBP
22.89
(-0.51)
ZAR/EUR
20.70
(-0.54)
ZAR/AUD
12.53
(-0.23)
ZAR/JPY
0.16
(-0.28)
Gold
1934.31
(+0.65)
Silver
25.91
(+1.07)
Platinum
938.98
(+1.07)
Brent Crude
45.32
(+2.09)
Palladium
2141.00
(+0.83)
All Share
57333.27
(-0.15)
Top 40
53037.79
(-0.17)
Financial 15
10206.50
(+0.66)
Industrial 25
75869.19
(-0.45)
Resource 10
58907.63
(-0.14)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 981 votes
It depends on how the funds are used.
74% - 6511 votes
No. We should have gotten the loan elsewhere.
15% - 1348 votes
Vote