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Fin24 user Bruce Herholdt writes:
An article appeared in the Fin24 online service this morning
re offshore investing.
Yes, offshore investing is obviously a good idea, however,
for completeness, one needs to understand the costs associated with
repatriating the money where the investor dies before bringing the money back
to RSA.
Typically the executor of the deceased estate has to appoint
an attorney in the country where the deceased’s investment is domiciled; this
can be both a very protracted exercise, and very expensive.
The costs of repatriating money invested offshore by the investor whilst still alive is a considerably cheaper option as attorney’s are generally not required to be involved in such instances.
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