Tax Consulting South Africa looks at three main areas of concern for wealthy South Africans looking to emigrate to the US.
There are three areas of concern that high net-worth individuals looking to emigrate to the United States must consider to ensure that their wealth is secure.showing that over 100,000 South Africans lived in the US in 2020 – trailing only the United Kingdom and Australia in the number of South African ex-pats.
The investor and their family are given conditional permanent residence and can be given a green card after two years. Ganey added that the once viable E-2 visa is no longer an option for South Africans due to changes in the law.One also has to carefully plan how they will process the relocation of their family, wealth and business to the US.“Many people have their hearts set on the US without considering it’s a country of 50 independently governed states, each with its own unique economy and culture,” Halcrow said.
Finally, those looking to immigrate should sequence the journey carefully as the transition can happen over phases in the long term – synchronising each step is crucial.
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