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FISA Focus Newsletter – Edition 3

Dear Members

I love this time of the year!  Not only does it offer us an opportunity to spend some time with our loved ones, but it also gives time to tick off few items from our annual to do list.

One of them this year, is to be ready for FATCA. To assist us, Anne gives some guidance in this issue of FISA FOCUS about FATCA and Kobus reminds us all of the compliance requirements to prevent us from being caught by a tidal wave called COMPLIANCE!  Whilst on this topic, Ceris gives us some tips on Will drafting and Jan shares some valuable offshore information all the way from the Netherlands.

It also gives me great pleasure to introduce our two new council members, Chris and Eben, to you.  I further encourage you to add your contributions to the new Wikipedia page, which is another exciting development for FISA.

AngeliqueHave a blessed break and travel safely,

Fiduciary regards,


We commissioned Colin Daniels once again to create an exclusive cartoon for our newsletter and hope you enjoy it! In terms of our agreement with Colin, please note this should not be used elsewhere.

tidal wave update

Kobus van Schalkwyk-1Compliance for Fiduciary Practitioners

The laws governing the conduct of fiduciary practitioners are constantly evolving and have become increasingly complex. To ensure the provision of quality fiduciary services which is also in compliance with those laws, fiduciary practitioners should develop and nurture a compliance culture in all their business activities. Click here to read an overview by Kobus van Schalkwyk, FISA member and Senior Manager – Legal at Standard Trust Limited.

Anne KleinFATCA Update

Anne Klein, FISA member and an attorney with Maitland, gives an update on on the USA’s Foreign Account Taxation Compliance Act (FATCA).  Click here for a general overview, provided with kind permission by Maitland. Things are moving fast, as South Africa is now about to sign a Model 1 intergovernmental agreement with the US. South African institutions will have to report the accounts of all non-resident clients to the South African Revenue Service. SARS will use the automatic sharing of information with the US and other governments.  Read the media release from SARS of 3 April 2014 here.

jan wille - 1Cross Border Tax Matters

Jan Hein Wille, FISA member and Managing Director, Oak Tree Corporate Service Providers (Pty) Limited, says his experience as a tax professional in Amsterdam and Port Elizabeth is that South African companies and individuals are crossing borders. In this brief article he discusses the tax issues that apply to South African taxpayers with income from The Netherlands. Continue Reading.

Tips for Will DraftingWills image

Whilst the drafter’s aim is to produce a document that is understandable by the client and by the executor, there is nothing simple about drafting a Will. Ceris Field of Field’s Attorneys gives us some useful tips. Continue Reading.

Belmont Square 2014 03 19_2FISA 2014 AGM

The 82nd AGM was held in Rondebosch, Cape Town on 19 March 2014, attended by 40 members and guests. (If 82 sounds very old, remember that FISA was known as the Assoication of Trust Companies with a long tradition). Angelique Visser was re-elected as Chairperson for the coming year, having reached the end of her two-year term as Chairperson and being eligible for an additional one year of term of office.

For an updated list of the Council members, please click here.

For an image gallery of the AGM, please click here.

Chris MurphyMeet Chris Murphy, Newly-Elected FISA Councillor for the Western Cape

A warm welcome to Chris!

Click here for our Q&A with Chris.

Eben NelMeet Dr Eben Nel, Newly-Elected FISA Councillor for the Eastern Cape

A warm welcome to Eben!

Click here for our Q&A with Eben.

wikipedia logoFISA is on Wikipedia!

FISA is now on Wikipedia! Please click here to read the entry.

calendarFor Your Diary

Please remember to use FISA’s easy-to-use online calendar to make a note of forthcoming regional meetings and CPD sessions. Click here to view the calendar.

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