Ok, there’s quite a bit to think about if you are a foreign buyer. You should be asking at least these questions:

  1. Is there any truth to the rumour that non-resident ownership of land will be limited?
  2. Who should own?  Me in my personal capacity?    A local company or close corporation or trust?   My foreign company or trust?
  3. Should I bring in foreign currency and risk a decline in the value of the Rand or should I borrow locally at relatively high interest rates?
  4. How much can I borrow locally and how much must I bring into South Africa?
  5. What is unusual about the process of buying property in South Africa?
  6. What can I do now to make it easier for me to repatriate my funds when I sell the property?

There are good answers to all these questions but they should be considered taking into account your personal circumstances and can’t be answered without a conversation.

It is a good idea to seek the help of a local property attorney who specialises in non-resident property purchases.  Contact us to make an appointment to suggest a suitable attorney to help you, if you wish.