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PURCHASING PROPERTY

Are there any restrictions on foreign property ownership in South Africa?

Is property ownership secure?

How does a buyer get a bond in South Africa?

When does the contract become binding and are there any penalties for changing your mind?

How long does it take from making an offer to completion?

What is the transfer duty on a property?

What are the costs associated with buying property in South Africa as a foreigner?

What is the state of the property market in South Africa for foreign buyers?

What are the potential risks or challenges associated with buying property as a foreigner?

MONEY TRANSFER

How do I transfer funds from abroad to purchase the property?

Can I transfer my profit out of the country? If so, how do I go about it?

Can I transfer my rental profit out of the country?

How much deposit is required and at what stage is it paid?

Do I need approval from the South African Reserve Bank to buy property as a foreigner?

TAX

Are there any tax implications on the sale of property?

If the buyer plans to let the property out, how do they register in SA for tax purposes for the tax on the income?

What is capital gains tax and how is it calculated when the property is sold?

What about estate duty in the event of death of a property owner?

LEGAL

What attorneys are involved in the process?

What legal documentation is required for a property purchase by a foreigner?

Do I need to be physically present in South Africa to buy property?

How do I ensure that the property title is clear and free of any legal issues?

Are there any local rules or regulations I should be aware of when owning property in South Africa?

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