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shayne

Buying Into A Business In Sa

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Hi Everyone

I have a few questions and was hoping someone will be able to assist me or point me in the right direction.

My brother would like me to buy into his business in SA but I don't know how the money side of things works when having a business in another country.

What are your suggestions about getting the money here and paying taxes?

Should I have him transfer money to me every month and I pay taxes this side?

Or should the money be paid into a SA account and taxes be paid in SA and then transfered.

 

Anyone have a business in SA? Any ideas?

 

Thanks

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Hi Shayne,

 

Maybe I can help you with the money side of your situation :)

Exchange4free is an online foreign exchange and international money transfere provider.

 

It started in London over 10 yaers ago and now this SA owned business expands over 50000 clients worldwide and can send money to over 100 countries.

They are licenced in many countries and I can assure you they are the most SECURE online payment system.

There are NO fees and ZERO commission!

Rate one of the cheapest in Forex & money transferes in the world.

Hope this reply finds you well

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shayne, much may depend on how you structure this investment - e.g. will you become a Director of the company - will this be 'income' etc. If you are a resident of the USA, you in any case have to declare this income to the IRS - whether or not it is physically transferred to you in the USA. Suggest you study the tax treaty between the USA and SA which may help determine some of the ways to do this without double taxation (while the tax treaty means that you won't be taxed twice on MOST types of income, some types of income are not covered by this - and you could find that you are taxed by SARS and the IRS).

 

See

http://www.irs.gov/Businesses/International-Businesses/South-Africa---Tax-Treaty-Documents

 

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shayne, much may depend on how you structure this investment - e.g. will you become a Director of the company - will this be 'income' etc. If you are a resident of the USA, you in any case have to declare this income to the IRS - whether or not it is physically transferred to you in the USA. Suggest you study the tax treaty between the USA and SA which may help determine some of the ways to do this without double taxation (while the tax treaty means that you won't be taxed twice on MOST types of income, some types of income are not covered by this - and you could find that you are taxed by SARS and the IRS).

 

See

http://www.irs.gov/Businesses/International-Businesses/South-Africa---Tax-Treaty-Documents

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