GROW YOUR WEALTH IN CANADA

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If you have questions regarding your pension or retirement funds, financial emigration or building your wealth portfolio, our qualified team of Accountants and Actuaries can help you. Navigating and understanding taxation, the double tax agreements between South Africa and Canada is complex and each situation unique. Reach out to our team to help you simplify the process.

We answer the questions that can set you up to build your wealth portfolio and help you reach your financial goals in Canada.

HOW WE CAN HELP

Helping you to realize your financial goals is our passion and through the planning process, we ensure a smooth transition from every perspective including financial emigration. We have access to a team of specialists that maximize your position through the alignment of tax-efficient strategies with the correct product set.

We are licensed for financial services in both Canada and South Africa giving you the unique opportunity to have your questions answered in both jurisdictions.

CREATING YOUR CANADIAN FINANCIAL PLAN

The broad components of a financial plan in Canada are similar to that of a holistic goal-based plan in South Africa but because of the different investment return expectations, longevity assumptions and inflation rates one is not able to plan effectively without a Canadian based goal-based plan. In Canada, we are fortunate to have a number of tax-friendly products and rebates available for clients that make financial planning all the more important. Ensure you make use of this in your financial plan.

RA'S AND PENSION FUNDS STILL IN SOUTH AFRICA

There are a number of options available to clients when it comes to their retirement funds in South Africa when they move to Canada. Because some of our advisors are dually licensed in Canada and South Africa (under the Hereford Group name) we assist our clients with the correct investment and tax advice from the start.

It is important to understand what your options are before and after age 55 and what your options are with or without financial emigration.

The tax, return and currency impact on your decision could be significant. Our team of Actuarial, Accounting and Tax professionals assist our South African clients with the appropriate advice.

IMPLICATIONS OF FINANCIALLY EMIGRATING

Talk to us to understand how your South African Tax Residency, Financial Emigration, and how 1 March 2020 impacts you.

TRANSFER MY NON-RETIREMENT FUNDS TO CAD

We have a registered currency broker located in our South African office that assists our clients with the South African Reserve Bank certificates (where necessary) and
administration when it comes to exchanging currencies.

Because we are not a big bank, you will not be just a recipient of currency spot prices, instead, you will be direct contact with our currency broker to establish together the price you prefer to trade.our currency broker to establish together the price you prefer to trade.

BUILD AN INVESTMENT PORTFOLIO IN CANADA

As advisors, it is important that we focus first and for most on your goal-based plan and then implement the plan with the best investment products. We are not investment managers, but instead, we have done due diligence (aka research) on a number of different offerings
for our clients here in Canada. We offer our clients a choice of:
– Low cost “robo-type” Exchange Traded Fund (ETF) portfolios
– High touch active portfolio management
– Or then a selection of normal mutual funds, alternative investments and insurance
investment products.

Depending on your goal-based plan and your own requirements, we are confident that we can put an attractive solution on the table for you that will globalize your asset base.

ADVICE ON MY SOUTH AFRICAN AND CANADIAN INSURANCE PRODUCTS

We are duly licensed in Canada and South Africa (under the Hereford Group brand) to
advice on and implement life, disability and critical illness insurance products for our clients.

We often start consulting to our clients while they are still in South Africa. It is important for us that our clients remain covered during their transition to Canada. We often find that this is a process where we slowly “switch off” the cover in South Africa and “switch on” cover in

Canada. It is very important for our clients and potential clients do not cancel any
products before they have implemented the correct products in Canada. Again, there are some real tax beneficial products and structures we can implement that are not available in South Africa

FINANCIAL EMIGRATION – WHAT YOU NEED TO KNOW

We can help you with your financial journey inquiry!

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