In this article in the attorneys’ journal, De Rebus, Chanel Schoeman discusses the complexities and implications of the cessation of tax residency by trustees and beneficiaries of South African trusts. She lists some of the challenges such as redomiciling a trust, distributions to beneficiaries in different jurisdictions, and exchange control implications. Trustees should act with due diligence and care and consult with experts to assist them in navigating the complexities.
Chanel is an FPSA® ,TEP and Fiduciary Specialist at Sentinel International Advisory Services.