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Intergate Immigration Service has an expert team of immigration consultants and certified Home Affairs practitioners. The team has the latest knowledge on immigration legislation and has well established researched information on expected relocation procedures and changes.

Foreign Exchange

Exchanging money can be a daunting experience. Our well-informed experts can save you avoidable charges. Incompass Financial Solutions will guide you through the exchange process. The experts will advise you on the best solutions, whether it is a lump sum of money or a staggered monthly transaction.

Property

SA Homebuyers has been established with the aim of providing a sophisticated property buyers service. Acting as an independent property consultant, the service provides an unashamed bias towards protecting the buyers interest and assists in securing you the right property, in the right area and at the best price.

Tax

Seeking tax advice is never high up on anyone's shopping list, however the perception that tax advice is a necessary evil is not always correct. Yes it is true that tax advice helps you to comply with legislation and ensures compliance but it can also offer the opportunity to structure your affairs in the most tax advantageous fashion.

Insurance

Whether it is house and home, car insurance, medical aid or commercial cover, Incompass Insurance offers a free and independent assessment on your specific insurance needs. Furthermore, Incompass Insurance is one of the biggest guest house insurance brokers in South Africa.

Banking

Opening up an appropriate bank account in South Africa often proves more difficult than you may think. We are able to provide our clients with advice on local banking, cash accounts for lump sums and Swiss banking.
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Access Bonds / Mortgages - South Africa

Obtaining an access bond / mortgage for immigrants to South Africa, or foreigners wishing to purchase a holiday home, brings to the fore a number of unique issues that a South African Resident or citizen does not need to address.

In some cases, even when a property is being purchased for cash, registering an access bond/ mortgage may still be appropriate.

  • The impact of the consumer credit act on foreigners has been severe. Non residents now find that obtaining a simple car loan can be difficult.
  • For homeowners looking to raise funds against their property for improvements or realizing some of their capital find bond applications a myriad of issues and red tape.
  • Cash flow is extremely hard to budget when moving to a new country. Unexpected expenditure or opportunities can cause the need for instant cash.

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Access bonds can be viewed as a type of credit line. The below example shows an instance whereby it can be advantageous to register a bond at purchase even when the property was bought for cash.

Mr. Jones purchased his home in Cape Town in May 2006 for R3 million cash. At this stage the property was designed as a holiday home whereby Mr. Jones and his family could spend 3 months a year in South Africa.

Although purchasing for cash, Mr. Jones registered an access bond for R1.5 million, over 20 years.

On registration Mr. Jones immediately repaid R1.3 million of the bond – leaving with an access facility of R1.3 million.

Whilst not using the property, Mr. Jones rented it out and he was able to offset the interest charges on the outstanding R200,000 against income tax.

In July 2007, Mr. Jones decided to further invest into South African property, but did not wish to transfer further funds into South Africa to fund the purchase. He found a flat in Cape Town whereby the seller needed a quick sale. Mr. Jones was able to instantly access the remaining R1. 3 million allowing for a keenly negotiated sale price.

The above is only one example of where having a registered access bond can be useful, other situations can be:
  • The needs to raise funds for car purchase or school fees
  • Taking advantage of exchange rate fluctuations
  • Investment into a business
  • Access to cheaper capital is required
  • Employment situation likely to change

In summary access bonds can be viewed as a credit facility, whereby the bond holder is able to draw down on any unused amount of the bond facility and repay it whenever cash flow allows.

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For more information on our services please feel free to contact us via

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