Are there any restrictions placed on a non-resident owning property in South Africa?
No As a non-resident, you are not prohibited from owning property in South Africa. However, the purchase of South African property by a foreign individual or legal entity must take place in accordance with South African laws and legal requirements, and there are certain procedures that may differ from your country of residence. How is the process of transfer of funds carried out, and what happens in the case of a Mortgage being required? When purchasing property in South Africa, the transaction can take place without intervention from the South African Reserve Bank if you pay the full purchase price of the property in cash. If a mortgage is required, you may borrow up to a maximum of 50% of the purchase price in South Africa; the other 50% of the funds must be transferred from a recognised foreign financial institution to a South African financial institution. The total amount of cash that may be borrowed is decided by the commercial bank in South Africa providing the loan. Is my inves
