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Found 2 results

  1. AntoinetteG

    Proof of Funds

    Hi Everyone I have been making steady progress with the whole application process...until...the dreaded proof of funds came up. (Side note: I haven’t yet created my EE profile as I need to sort out PoF first)... I was planning on using my RA’s and Pension Fund (Sanlam and Discovery) as PoF, as this is well over the required amount and selling my property won’t make up the amount. After a consultation with Deanne (Canada Abroad) I was told that although I can use my RA and Pension Fund (no problem there), the money would need to be in my account when I leave RSA, and not after landing (which makes sense). My understanding of Financial Emigration however is that it can only happen once I am in Canada? Has anyone had any success in getting money out of RA’s and a Pension Fund BEFORE leaving RSA and used the money as PoF? I am totally stuck, and my broker is unable to help me...I have now been told to find out for myself from Sanlam and Discovery as they keep on telling my broker I need to do financial emigration first...and the broker can’t help me further, mainly because the message just gets relayed. Any ideas? Help? I would really appreciate it! Thanks in advance!
  2. Liz88

    It’s about the Money Hunny!

    Shhhhhhh.... so tell me, how does one sneakily start siphoning all your money out of SA undetected *insert James Bond music* I’ve seen comments about how “financial emigration” isn’t the way to go due to assets being frozen So what then? Do you cash your pension and start sending money to a RBC bank account which you opened from here? Sale of houses and cars? Where does that money end up and how? How much involvement is needed from a SARS point of view if any? Some say they leave their SA bank accounts open and just vanish by giving a close relative power of attorney to close everything once settled in 🇨🇦 How does one declare if you’re coming into Canada with $10,000 or more? What did you do? What was your experience...