How South African And Offshore Trusts Differ

As more South Africans establish trusts outside the country, Grant Barbour, Managing Director - Private Client, examines the key differences that advisers and individuals need to be aware of.

The relaxation of South African exchange controls means wealthy South Africans now have more freedom to place their assets anywhere in the world. For those seeking to manage their wealth, or to solidify their succession planning, many will be drawn to offshore trusts.

On the plus side, they'll find a wealth of reputable, stable and well-regulated jurisdictions to choose from - whether that's Jersey, Guernsey, Mauritius, Hong Kong, Isle of Man or elsewhere. But it's important to pause here.