February 22 2019
Many high-net-worth South Africans with offshore assets make use of offshore companies, trusts or other entities to house their assets. They are likely now to be forced to review their offshore structures, including even the most standard ones, in light of a new rising tide in the form of the so-called EU Economic Substance Requirements, which have been translated into legislation with effect from 1 January 2019.
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(Source: MoneyWeb)