DeVere CEO slams South African expat tax as discriminatory

DeVere CEO slams South African expat tax as discriminatory...Lock icon

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.

Published : 25, Jul 2017
International Adviser magazine goes digital

International Adviser magazine goes digital

After 12 years of printing monthly copies, International Adviser is going digital from September. This exciting development will allow us to shape our content differently as the markets around the world evolve.

S Africa to scrap tax exemption for expats, overseas workers

S Africa to scrap tax exemption for expats, overseas...

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).

Published : 24, Jul 2017
OMI unveils offshore bond for Middle East and Africa

OMI unveils offshore bond for Middle East and...

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.

Published : 24, Jul 2017
IoM’s collapsed Louis Group gets second director ban

IoM’s collapsed Louis Group gets second director...Lock icon

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.

Published : 21, Jul 2017
Prudential enters Nigeria with landmark acquisition

Prudential enters Nigeria with landmark acquisition...

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.

Published : 13, Jul 2017
Most expensive global expat cities 2017

Most expensive global expat cities 2017Lock icon

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.

Published : 21, Jun 2017
Science beats psychology in advice, says S Africa’s PCH

Science beats psychology in advice, says S Africa’s...Lock icon

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.

Published : 12, Jun 2017
Professionals are the future of South African advice

Professionals are the future of South African...

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.

Published : 9, Jun 2017
Why a wealth tax in South Africa won’t work

Why a wealth tax in South Africa won’t work

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.

Published : 8, Jun 2017
South Africa’s RDR to tighten independence rules for advisers

South Africa’s RDR to tighten independence rules...Lock icon

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.

Published : 1, Jun 2017
South Africa's Investec to expand into life insurance

South Africa's Investec to expand into life insurance...

South Africa-headquartered asset manager Investec has announced it will expand into offering life insurance to its clients.

Published : 22, May 2017
South Africa’s Sanlam increases stake in Moroccan insurer

South Africa’s Sanlam increases stake in Moroccan...

South Africa's financial services group Sanlam and leading insurer Santam have increased their stake in Morocco’s SAHAM Finances for $329m (£254m, €298m).

Published : 18, May 2017
DeVere appeals South Africa court ruling on ex-manager payoff

DeVere appeals South Africa court ruling on ex-manager...Lock icon

DeVere Investments has appealed a court ruling that it must pay ZAR3.7m (£217,380, $280,535, €256,142) in outstanding commission, notice paid and an unpaid portion of a bonus to an area manager it fired.

Published : 16, May 2017
Ex-deVere South Africa manager wins court payout

Ex-deVere South Africa manager wins court payout...Lock icon

A sacked area manager of deVere Investments South Africa who faced off against group chief executive Nigel Green in court has been awarded a ZAR3.7m (£217,380, $276,020, €252,420) payout.

Published : 15, May 2017
Old Mutual most complained about insurer in South Africa

Old Mutual most complained about insurer in South...Lock icon

Old Mutual Life Assurance Company, South Africa's largest life insurer, has topped the list of complaints filed against insurers, according to latest data from the country’s ombudsman.

Published : 11, May 2017
Mauritius the fastest growing market for wealth in Africa

Mauritius the fastest growing market for wealth...

The number of millionaires on the offshore island of Mauritius has grown by 20% in the last year, making it the fastest growing wealth market in Africa, a new survey suggests.

Published : 3, May 2017
SA unveils new wealth tax to address ‘rampant inequality’

SA unveils new wealth tax to address ‘rampant...

A committee set up to review South Africa's tax system has revealed plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.

Published : 28, Apr 2017
Five tips to consider when using an overseas pension

Five tips to consider when using an overseas pension...Lock icon

Given the recent dramatic changes to rules governing overseas pension transfers, Martin Hall, the director of Isle of Man-based pension provider Optimus, gives his tips on what to consider when using an international pension scheme.

Published : 28, Apr 2017
DeVere denies ‘unfounded claims’ it uses prohibited funds in SA

DeVere denies ‘unfounded claims’ it uses prohibited...Lock icon

International advisory firm deVere has denied claims that it has been investing its South African clients’ money in offshore funds which have not been approved by the country’s regulator, blaming the “unfounded allegations” on a disgruntled former employee.

Published : 20, Apr 2017

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