Prof Elmarie Venter (Director of the Nelson Mandela University Family Business Unit) participated in the latest edition of the Transcontinental Trusts: International Forum 2021 Conference.

The virtual conference was held from 1 to 4 June 2021 in Bermuda and conducted online. The purpose of the Transcontinental Trusts Conference was to connect the entire breadth of the offshore industry and create purposeful engagement within the whole private client intermediary network.

Prof Venter partnered with Catherine de Maid (Partner at Burges Salmon) as speakers on the topic of “Jurisdiction developments: Africa and South Africa”. During their session, a variety of topics were covered that focused on the dynamics of a hybrid South African and United Kingdom (UK) residency and emigration procedure. Some of these discussions included:

  • The situation in Africa and South Africa and implications of moving to another country, such as the UK.
  • Ancestorial passports and work/investor Visas for entry into the UK.
  • UK residency and domicile position/position under DTA if remaining as an ordinary resident in SA.
  • The attractiveness of “remittance basis” and pre-immigration planning.
  • The popularity of trust structures (Domestic SA trusts hold local assets while offshore trusts hold funds taken out with FIA over the years).
  • A review of those trust structures in order to understand how they will be taxed once the settlor and/or beneficiaries are UK residents.
  • The legalities surrounding Wills and how the new UK Will fits in with SA Wills.

More information about the conference can be found on the following website: https://informaconnect.com/transcontinental-trusts-international-forum/

Contact information
Prof Elmarie Venter
Professor in Business Management
Tel: 041 504 2204