probate
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered, although keep in mind that obtaining a probate order may delay the winding up
The other option for externalizing funds offshore is to utilise the indirect option through Rand-denominated funds. Indirect offshore investing means that no Rands are physically transferred by the investor, and their investments remain domiciled in South Africa.
Also keep in mind that, as a permanent resident in South Africa, you are taxed on your worldwide estate, and this can have CGT and estate duty implications in the event of your death, especially where your foreign assets are
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered in that jurisdiction. It involves obtaining the necessary court authority in the foreign country
A distinct advantage of drafting a separate Will for your foreign assets is that you can ensure that the Will fully complies with the laws of the country in which your assets are situated, and that no complications arise.
