{"id":1096,"date":"2020-05-07T08:00:18","date_gmt":"2020-05-07T06:00:18","guid":{"rendered":"https:\/\/affluencegroup.co.za\/?p=1096"},"modified":"2022-08-10T10:00:48","modified_gmt":"2022-08-10T10:00:48","slug":"offshore-investing-2","status":"publish","type":"post","link":"https:\/\/spiwealth.co.za\/index.php\/2020\/05\/07\/offshore-investing-2\/","title":{"rendered":"Offshore Investing"},"content":{"rendered":"

Unfortunately, South Africans have a history of panicking when the Rand weakens sharply and then respond by taking money offshore. This is a typical investment rookie mistake as the timing of moving money offshore just when the Rand has weakened sharply could be very costly.<\/p>\n

We can however not shy away from the fact that due to a struggling South African economy, a downgrade to junk status, global adversity and the long-term effect of the weakening Rand, offshore exposure becomes inevitable.<\/p>\n

Why do you need to invest offshore?<\/p>\n

    \n
  1. International investing will give you access to regions and industries not well represented locally and assist in spreading your risk. Examples include the technology, biochemical, aerospace and medical device sectors.<\/li>\n
  2. We should expect the Rand to depreciate by roughly 4% per annum versus the US dollar over time, based on the inflation differential between the two countries.<\/li>\n
  3. The South African market is less than 1% of the global market. Allocating 100% of your investment capital to the South African economy would be suicidal.<\/li>\n
  4. A struggling South African economy is a reality, and it might take very long for an economy like ours to recover after the devastating effects of Covid-19.<\/li>\n<\/ol>\n

    You might be thinking that offshore investing is a very difficult and complex process that is only meant for the wealthy. The good news is that you can invest in an indirect<\/strong> offshore investment with as little as R500 a month. This is a very easy and simple process.<\/p>\n

    If you would like to invest directly <\/strong>offshore, this has also become a hassle-free process. South Africans are however only allowed to take R1m out of the country every calendar year without a tax clearance certificate, and up to R10m a year with tax clearance.<\/p>\n

    It is however important to remember that offshore investing remains a long-term investment strategy and should not be used for short-term speculative reasons.<\/p>\n

    As I am writing this article it has been announced that South Africa has fallen into a technical recession, which just emphasises my points already made.<\/p>\n

    For any advice on offshore investing please feel free to contact us.<\/p>\n

    Heinrich Coomans | CA(SA) | CFP \u00ae is a Director of SPI WEALTH.\u00a0For enquiries contact,\u00a0heinrich@spiw.co.za<\/a>\u00a0or 013 752 6566<\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Unfortunately, South Africans have a history of panicking when the Rand weakens sharply and then respond by taking money offshore. This is a typical investment rookie mistake as the timing of moving money offshore just when the Rand has weakened sharply could be very costly. 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