Rich White South Africans emigrate in hordes because they have lost faith in the country's economy. And they are taking billions of Rands with them... reports Pieter-Louis Myburgh 5 October 2014 in Rapport.co.za. The country's 'archaic' foreign exchange control system which is supposed to stop the outflow of large amounts of cash, is a big reason. Rapport spoke to three financial practitioners who are helping people arrange their financial affairs when they emigrate of want to invest their money abroad.
All three confirmed that an increasing number of 'wealthy and highly-educated South Africans are taking their skills and money overseas." The rush started after South African internet billionaire and space-traveller Mark Shuttleworth (left) won a historic victory against the South African Reserve Bank - which was ordered to refund Shuttleworth's R250million which he was forced to pay them against his protests in 2001 to try and preserve his fortune of R4billion to a foreign country. Shuttleworth announced that he would invest this money in a Trust fund to assist other South Africans fight the South African government about such constitutional matters in the law courts. "Billions upon billions of Rands are currently flooding from South Africa together with emigrating wealthy South Africans, ' said Michael Honiball of the legal firm Webber Wentzel's tax division. The exact amount of cash tsunami-ing out of South Africa is unknown and the Reserve Bank refused to tell, quoting article 33 of the SA Reserve Bank Act, wrote its spokesman Hlengani Mathebula in his email reaction to Rapport. .
http://www.rapport.co.za article 5 October 2014 By Pieter-Louis Myburgh
Ryk Suid-Afrikaners emigreer in hul hordes omdat hulle vertroue in die land se ekonomie verloor het.
Voorts is Suid-Afrika se “argaïese” valutabeheerstelsel, wat veronderstel is om te verhinder dat te veel geld die land verlaat, ’n groot rede vir dié valuta-uittog.
Rapport het met drie finansiële praktisyns gepraat wat mense met hul geldsake help wanneer hulle emigreer of geld in die buiteland wil belê.
Al drie sê al hoe meer welvarende en hoogs opgeleide Suid-Afrikaners neem hul geld en vaardighede na die buiteland.
Dit kom nadat die Suid-Afrikaanse internet-miljardêr en ruimtereisiger Mark Shuttleworth die afgelope week ’n geskiedkundige sege teen die Suid-Afrikaanse Reserwebank in die appèlhof behaal het.
Die bank is beveel om die R250 miljoen wat Shuttleworth in 2001 onder protes moes betaal om sy fortuin van meer as R4 miljard na die buiteland te skuif, aan hom terug te betaal.
Shuttleworth het aangekondig hy gaan die geld in ’n trust belê om ander Suid-Afrikaners by te staan wat die regering oor grondwetlike kwessies in die howe wil pak.
“Miljarde der miljarde rande verlaat tans die land saam met welvarende Suid-Afrikaners wat emigreer,” sê Michael Honiball van die regsfirma Webber Wentzel se belastingafdeling.
Die presiese bedrae wat die land verlaat, is onbekend en die Reserwebank wou nie dié besonderhede aan Rapport beskikbaar stel nie.
“Kragtens art. 33 van die Suid-Afrikaanse Reserwebank-wet kan die Reserwebank nie hierdie inligting deel nie,” het Hlengani Mathebula, die bank se woordvoerder, in sy reaksie per e-pos geskryf.
Honiball sê dit is baie kommerwekkend om te sien in watter getalle welvarende Suid-Afrikaners die land verlaat.
http://www.rapport.co.za article 5 October 2014 By Pieter-Louis Myburgh
“Dit is mense wat werk hier skep, ons het hulle nodig. Maar die wurggreep van (ekonomiese) regulasies waarmee ons hier moet worstel, dwing hulle om oorsee te gaan sake doen,” sê Honiball.
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