Buy residential direct from the developer

There are various issues involved in the purchasing of
property in South Africa.

Restrictions:

Non-residents are subject to the same laws and regulations as South Africans. This ensures the efficiency of S.A's registration system.

Mostly property is registered in the name of the purchaser as an individual. If the individual got married outside South Africa, both parties have to sign all the documents. An individual may also purchase property with a friend/wife or family member. Should the non-resident wish to purchase property in the name of a legal entity, this entity must be registered in S.A. and meet the requirements of registration of the chosen entity, such as Companies Act. For example, the non-resident may decide to own the property through share ownership in a company, membership in a close corporation (unique to South Africa) or as a beneficiary in a Trust. If the non resident does acquire property in an entity then that money brought in represents a loan to the local entity which would require exchange control approval.

As a purchaser, you need to have finalized the documents for the entity you wish to purchase the property in before the offer of purchase is signed.

A non-resident can purchase property over the internet without entering the country; but if the purchaser intend residing in the country for any length of time, he/she will need to either have a valid permit to temporarily remain in the country, or be in possession of a permanent residency permit.

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