Moving abroad, so many questions?

narnia2000

My partner has asked me to go and live with him in South Africa for 2 years whilst he winds down various business interests, at which point we will return to the UK. I currently own a house in the North...with a mortgage, however it looks like we would be returning to settle in the South of England. In the current climate I'm not sure whether to sell or rent, whether to sell my almost new furniture, rent out furnished or store stuff and rent unfurnished/sell. My second quandry is what to do about bank accounts, I have a current account which charges if I draw money out abroad, a credit card, and a savings account paying almost zero interest, all are available online. Another question is what do I do about re-direction of mail, changing address on my bank accounts. Any help, insight would be good, thanks.

zebedy

Hi,

sorry I'm not posting much in the way of answers, but you will also need to consider the visa situation.
I'm assuming you are a UK resident. The SA tourist visa is for 3 months only, so you'll need to think about how you are going to be able to live in SA for 2 years? Here is the webpage to look at for SA visas http://www.southafricahouse.com/Consulate/Foreign.htm

In terms of money and bank accounts out there. I've heard it is nigh on impossible fora non-SA resident to get a bank account. I lived there for e year (on a study permit) and before I went I got a nationwide flexaccount and credit card as these don't add a loading fee for withdrawing money abroad. I used them for the whole year with no problems - (see articles on best way to spend abroad, from this website)

In terms of your property here, if you rented it out whilst abroad for 2 years you would be a non-resident landlord so you will need to consider the tax implications. This is a very useful site http://www.direct.gov.uk/en/BritonsLivingAbroad/index.htm

I hope this helps,
Good Luck

rushed

In terms of visa, their website specidies 10 days for processing applications, by I applied for a visa last week and they issued same day. You would need to book an appointment through their premium appointment booking system though.

Jennifer_Jane

The one thing that I would not do is to transfer large sums of money to South Africa. They are very proud that they have no, or very few, money-laundering problems, and they have maintained exchange controls. It would be better to keep your money in GB Pounds. Also, the Rand is quite volatile and can drop very quickly.

I think (unsure if this is currently the case) it is quite difficult and expensive to get the appropriate work permits. So as the poster above says, consider how you will live.

The other thing I would check is that you will have 30 years of NI payments for your UK pension. I'm sure you will have, but just check and if, for some reason, you didn't, then you can send out money from South Africa for your NI contributions.

I realise that this hasn't answered your questions on whether to keep your house and rent out or not, I can't help you. All we know is that you may have difficulty selling at the moment, and that interest rates are pretty poor. Who knows what the situation would be in 2 years' time.

Have a great time in South Africa, and hope you will keep posting on the Site even from far away. I lived there for 26 years and if there is anything else I can help with, let me know.

Jen
x

narnia2000

re visas, i will be able to apply for a life partner visa as we have been in a monogamous relationship for a year, we just need to sign an affidavit. my partner is happy to support me financially, i can help with his business and/or do some voluntary work. i will look into bank accounts as suggested thanks

polkadot

I was born and raised in South Africa (I am also a British citizen), and moved here in 2007-my parents are still there. I worked for FNB (One of the big four banks in S.A) for 6 years . South Africa has intruduced the Financial intelligence centre act (also known as Fica). You could apply for something like a Homecomers account (you would fall into category 2) https://www.fnb.co.za/personal/findsolutions/homecomers/homeCheque.html
and most of the "good" banks will have something similar to accomodate non-citizen residents, who don't complete all the FICA requirements.

Do you mind if I ask where you will live in South Africa? What kind of business does your partner own and is he South African or British? alot of what you need to know about the country will depend on where you live. The reason I ask about his citizenship is because of the new visa requirements for South Africans coming to Britain that are looking to be implimented later this year.

narnia2000

hi, i will be living just outside capetown.

narnia2000

sorry keyboard issues at the moment, my partner is sa he has several businesses building, cd distribution tx for any help.

polkadot

Has he had a visa for the UK before? Work etc?

seven-day-weekend

Bank Accounts : open one in SA to put your 'living money' in and keep at least one open in the UK as it makes things easier when you return. There shouldn't be a problem with registering an existing acount to a SA address and you can access it online.

narnia2000

polkadot wrote: »

Has he had a visa for the UK before? Work etc?

no, he hasn't needed a visa for the uk, however will this July due to new regulations, this will likely be a visitors visa, although we are looking at sole representative too. It is a possibility that we will marry in the next 2 years, can't happen yet as he is going through a divorce and has to liquidise assets to pay out.