Annetjie Coetsee is a practising Attorney, Notary Public and Conveyancer, operating from both the Cape Town and Helderberg branches of STBB. Her responsibilities include: Director of STBB, branch head of Somerset West office, Executive member and head of the Development Law Unit. The specialized Development Law Unit has nine specialists addressing development requirements in the fields of planning law, environmental law, construction law, renewable energy law and, very importantly, local government law. She is a practicing Conveyancer (dealing with a conglomerate of property related matters such as sectional titles, developments, bonds, transfers and municipal work for local councils). Although she specialises in conveyancing she is a family law attorney, with a special interest in the constitutional law aspects regarding children’s rights. She is part of the marketing department and takes care of the brand development on a national level. Annetjie is further responsible for compliance and reporting initiatives. She is involved with substantial research activities relating to the property market and property investment and communicates interesting and relevant facts to her clients and the media, conducts Legal Updates for banks and estate agents. Her knowledge and insurmountable experience in the property market and connections with key roleplayers in the property industry makes her an invaluable ally to any property investor.

From the desk of Annetjie | BUYING PROPERTY IN SOUTH AFRICA AS A NON-RESIDENT

IMPORTANT DOCUMENTATION TO BE KEPT BY THE BUYER

When a non-resident uses funds transferred directly from a foreign source to purchase a property, the agent/conveyancer must give specific instructions to the buyer to keep the below documents in paper form for as long as the property is owned. Without these documents, it will be challenging to repatriate the funds out of South Africa.

ESSENTIAL DOCUMENTATION

  1. MT103 ‘Deal Receipt’ – this is prima facie proof that the foreign funds were introduced into South Africa from abroad when the funds are paid into the STBB trust account.
  2. Copy of the Final Statement of Account
  3. Proof of Interest paid to the buyer
  4. Offer to Purchase

To avoid any potential issues in the repatriation of the funds, it is imperative that you contact us for any further queries.