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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.

Information about purchase costs when buying a property in South Africa

The costs involved when buying a property in South Africa

When purchasing property in South Africa, many prospective buyers do not realise the costs involved over and above the cost of the property and the actual figures often surprise and sometimes shock.

There are two main costs involved when purchasing a property. The cost involved in transferring the property into your name and the costs to raise finance for the purchase of the property. See below some examples of the costs you can incur when purchasing property.

It is always best to find out exactly what the costs would be before you decide on your budget as these may influence the price that you are able to pay, The figures below are good estimate of what you are likely to pay. Remember that these purchase costs are due before the transfer actually occurs and needs to be taken into account when planning cash-flows.

The costs for purchasing a property in your private capacity

Purchase Price

R 1 million

R 3 million

R 5 million

Transfer / Attorney Fee R 11, 400 R 20, 520 R 29, 640
Transfer Duty (Government Tax) R 25, 000 R 185, 000 R 345, 000
Total Purchasing Costs R 36, 400 R 205, 520 R 374, 640
Total amount required for property purchase R 1, 036, 400 R 3, 205, 520 R 5, 374, 640
Bond Costs for a 50% Bond (only relevant if applying for bond finance on the property) R 6, 560 R 11, 690 R 15, 110
Total amount required for property purchase including bond costs R 1, 042, 960 R 3, 217, 210 R 5, 389, 750

The costs for purchasing a property in a Company or Trust

Purchase Price

R 1 million

R 3 million

R 5 million

Transfer / Attorney Fee R 11, 400 R 20, 520 R 29, 640
Transfer Duty (Government Tax) R 80, 000 R 240, 000 R 400, 000
Total Purchasing Costs R 91, 400 R 260, 520 R 429, 640
Total amount required for property purchase R 1, 091, 400 R 3, 260, 520 R 5, 429, 640
Bond Costs for a 50% Bond (only relevant if applying for bond finance on the property) R 6, 560 R 11, 690 R 15, 110
Total amount required for property purchase including bond costs R 1, 097, 960 R 3, 272, 210 R 5, 444, 750

For a free consultation please simply email us at property@intergate-immigration.com.

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