go visit SA again ... go to a rich area in capetown hobnob with the people in the know ... I am sure some folks with millions of rands have found out a "legal" way to remove some of their assets ... overseas ...
I just come back from spending 4 months there and remember while i was there this guy had ZAR-1M seized off him at Capetown DOMESTIC airport cos he couldn't come up with a decent reason as to why he was walking around with that much cash...be careful...its a fuked up place.I'd try travelling the legal road 1st... Even getting the few K i'd earned there exchanged required a letter to prove i'd earned it on a foreign flagged vessel(i.e earned outside of S.A) Basic rule is you can't walk out with more than what you walked in with without some sort of accompanying paperwork. Foreign transfers i believe need to be registered first, Transfering it into a trading account would have to be worth a good look at. I guess South Africans have been trying to get money out of there for years so alot of avenues will no doubt be blocked. You'll want to be careful who you deal with too I know a guy there that had a gun pointed in his face for ZAR-40,000 (USD5k)after walking out of a bank....only person that knew the transaction was going to take place was him and a bank clerk! Transfer it somewhere electronically would be your best answer to both managing to keep it and stay alive at the same time... Best of luck with it...
what did you invest in whilst there? Are there any US or EU backed assets to invest in as a SA citizen? What do you mean by transfer it; are SA bank accounts capable of transfers of milllions of rand to US bank accounts? Are these accounts via internet? PLease elaborate.
South Africans have even been known to buy expensive yachts in S.A., sail across the Atlantic to Rio and beyond, then sell them, but I hear they're on to that one too now. The ones that do come into money outside the country have learned not to take it back in and make use of off-shore accounts, i.e Channel Islands, etc., I'm afraid that illustrates what a problem your Granny has. I have heard that Bright, and possibly even Echo, have traders in S.A., so the trading a/c aspect could be looked at, but one can only assume that door has been shut as well. The only way would be for her to take the max allowed for trips out of the country, (vacation money),which I think has been substantially increased in the last few years, and slowly siphon it out that way. At least she could get some out that way. Best of luck.
At sea most of the time so stayed cash,never looked at any investment options there,I'd imagine as long as you can get approval on moving the $ one way or the other you can TT any amount whereever via the banks... Like most are saying you need a pro's advice
Are there any US or EU backed assets to invest in as a SA citizen? And I just realized that the rate is 6.59rand/1US. That is a huge improvement was't it 12rand/1US just a few months ago?
I like the idea of muling out gold bullion...but diamonds are far easier to conceal. Of course you'll take a massive hit on the bid/ask spread if you try this, unfortunately.