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Foreign investors are welcome. Below are the legalities for non - South African residents.
- There are no restrictions for non-South African citizens resident abroad, to purchase property in South Africa.
- Property or property shares purchased by a non-resident must have the share certificates or title deeds endorsed "non-resident".
- There are also no restrictions contained in the exchange control regulations against non-residents introducing capital into South Africa for the purpose of purchasing property.
- A non-resident account is opened in the client's name at a local bank and funds may be deposited by way of telegraphic or bank transfer.
- Should a non-resident decide to disinvest and sell the property at a later stage, the proceeds of the sale can be freely transferred out of the country from the local bank, by simply exhibiting their deed of transfer for the property and the subsequent deed of sale for the resale. A company incorporated outside of South Africa may have the same power as a South African company to own immovable property in South Africa in terms of Section 324 of the Companies Act, by filing a certified copy of its Memorandum of Incorporation with the Registrar of Companies within 21 days of establishing a place of business in South Africa.
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