Let our experience save you the trouble

How can we help

Having an independent, experienced legal practitioner available as a consultant when dealing with difficult and complex transactions will benefit not only you but also your clients. Questions often arise when deals are negotiated and we offer immediate advice and support in order to assist you in negotiating your deal effectively.  The same availability and dedication ensures that your organisation’s Compliance issues receive the necessary attention which in turn reassures your employees, agents and clients. With our dedicated applied training sessions, your business will have an advantage in the industry.

APPLIED LEGAL TRAINING FOR PROPERTY PRACTITIONERS

Training is an important element in any business and more so in the property industry. With laws continuously changing, keeping up to date with changes is not negotiable. Difficult but necessary concepts are simplified and we give practical examples of all scenarios in order to ensure that the property practitioner fully understands the content for application purposes.

LEGAL COMPLIANCE

Legal compliance is becoming more of a focus internationally and South Africa’s Compliance Laws are following suit. Many businesses fall short of these compliance regulations and often discover the shortcomings upon Regulatory Inspections being done. The South African Financial Intelligence Centre is focussing on organisations within the property industry to combat terrorism funding and money laundering activities and expects legal practitioners to act as the FIC’s “agents” to identify suspicious and unusual transactions in terms of the FIC’s Risk Based Approach. Our compliance team has worked closely with FIC and is able to review and renew your organisation’s FIC policies and applied assessments. The Protection of Personal Information Act 2013 becomes fully effective in July 2021 and the Property Practitioners Act 2019 becomes fully effective in April 2021 and the property industry must prepare for these Acts timeously in order to avoid non-compliance

APPLIED LEGAL TRAINING FOR LAW STUDENTS AND CANDIDATE ATTORNEYS

The gap between legal theory and practice is vast and whereas law students and candidate attorneys are well schooled in the South African legal principles, little or no emphasis is placed on the business schooling of legal practitioners. Young attorneys often find themselves vulnerable when expected to draft a Business Plan or a Marketing Plan and many young attorneys are unable to draft agreements and legal documents and letters effectively.

Our applied training courses for young attorneys aim to empower the attorney with business writing skills, business planning skills and for them to better understand business principles within a legal practice better

FOREIGN INVESTORS

We consult with foreign investors on all aspects of their investment here in South Africa and can be seen as a “one-stop shop” for foreigners who wish to buy or sell property or take finance with a banking institution. In addition, we are able to advise foreign investors in respect of the consequences of locally issued VISAs and the rules related to these VISAs as well as tax liabilities when investing in South Africa. Understanding the rules and regulations related to the Reserve Bank, The Department of Home Affairs and the South African Revenue Services is essential when a foreigner decides to make an investment here

COVID 19 WORKPLACE COMPLIANCE

Covid 19 has undoubtedly changed the way in which organisations operate. Although much strides have been made by business owners to arrange that staff and employees, where possible, operate remotely or from their homes, inevitably the workforce will eventually start moving back into the office spaces. Many organisations prepared their Covid 19 Workplace protocols during the course of May and June 2020 and others have not yet prepared proper complaint protocols. We offer a full range of Compliance Services to all types of organisation including: drafting and preparing the legislatively required Workplace Policy, supply a full set of practical guidelines in order to deal swiftly with incidences, supply the necessary indemnity guidance, draft and prepare the Risk Assessment forms and procedures as well as train the workforce (remotely or safely at the office space) regarding the workplace rules. In addition, we act as remote Covid 19 Compliance Officers for many organisations – a function which often requires experience and availability and which our clients support as an outsourced function due to it being more effective in managing the reduction of risk. Employees feel safer and therefore more confident in an environment where it is apparent that the employers take the Covid 19 risk seriously so continuously updating and reviewing process, reactions and procedures is not negotiable for continuous production.

Upcoming Training

INSTALMENT SALES AGREEMENTS

DATE: 12 February 2021
TIME: 10H00 (90 minute session)
COST: R110 per person
PLATFORM: Zoom

Email training@melaniecoetzee.co.za to register

WHY ATTEND THIS SESSION?

Instalment Sales Agreements are often considered when the parties wish to conclude a deal but may face a few hurdles in reaching agreement. This type of delayed transfer is often confused with a “rent-to-buy” structure and if the finer conditions surrounding security of performance are properly negotiated, the delayed deal can become really messy.

An Instalment Sales Agreement is also an option if an owner is financially distressed or if a buyer, who may be self employed, struggles to obtain a bond approval but is able to pay cash into the deal over a period of time. 

Understanding the Instalment Sale conditions properly empowers agents and sellers and we are pleased to host this session and look forward to hosting you.

Let us teach you with a training solution to suit your needs.

Our training solutions aim to empower all attendees with knowledge regarding the subject matter, where it is a property practitioner or a young attorney. Copies of the presentation will be shared with each attendee and where applicable, a video recording. Each attendee will receive an attendance certificate which will carry 1 non verifiable CPD point.

Juggling everything can be Hard, but compliance doesn’t have to be.

Our aim is to empower our business clients with the necessary detail regarding the Regulatory compliance requirements applicable to the specific industry. Property practitioners are subject to many such compliance laws including the FIC Act amendments, the POPI Act and developing a Privacy Policy in line with regulations as well as the Property Practitioners Act and Regulations which will change the face of the property industry, including standard agreements and in particular how property practitioners deal with property inspections and pre-existing defects at the property.

We taylor make Compliance Packages depending on the need of the organisation but having a dedicated, experienced compliance consultant on your side will ensure that the process of review and implementation will be smooth and professional

We’ve Developed Fun & Realistic Training Solutions

Most of our training will be presented via ZOOM or MSTeams which means that you can attend in the comfort of your home or office without the risks associated with Covid 19. Our individual training sessions will be between 60 – 90 minutes in length and registration for the sessions is compulsory in order for the attendance certificates to be issued properly and for us to keep in touch with you following the sessions.

Our sessions are presented in a fun, interactive manner with examples of the content always included for maximum content understanding. Our training content has been developed over years of practice and dealing with issues directly and topics are thoroughly researched for you benefit.

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Frequently Asked Questions

Is it sufficient to keep using the 2019 suggested FICAA RMCP with the Risk Assessment which obliges me as a property practitioner to identify and verify my property seller or buyer only when it is a government official?

No. The Risk Based Approach regulated by the FIC in the FICAA obliges property practitioners to identify the property seller if there is a mandate and at the time of taking the mandate, the property buyer if the buyer will be paying monies into the property practitioner’s trust account as well as verify the details of the party and the funds. In addition, property practitioners must test the transaction and the parties against a Risk Assessment for UNUSUAL and SUSPICIOUS transactions as well as screen the parties against the EU TFS Lists.

Are South Africans, who live abroad with a work permit, and pay taxes on the income earned in the country abroad automatically seen as tax non residents of South Africa and therefore exempt from paying income tax here with SARS on the income earned abroad?

No. South African EXPATS’ SA tax number is not automatically deactivated when they leave SA to take up employment abroad. SARS must be notified of such fact in order for the EXPAT to avoid the possibility of having to pay double tax on the income.

Is a foreign married couple able to open a JOINT account in South Africa, similarly to the type of joint account they are able to operate abroad?

No. The South African reserve bank does not allow any of the retail or private banks to open JOINT accounts in the names of more than one person. It is however possible for someone to have a secondary card issued on an account or for an additional person to be added but JOINT banking accounts are not possible in South Africa.

Is it acceptable to ask for an obtain copies of the conveyancing firm’s FICA documents for the parties without having onboarded the parties properly yourself as the property practitioner?

No. Property practitioners are defined as Accountable Institutions in their own right in terms of FICAA. This means that an independent obligation vests with the property practitioner to ensure that the parties are identified and verified and the funds are checked to ensure that the transaction does not constitute a suspicious or unusual transaction. In the event that the property practitioner was unable to obtain copies of documents or information from a party, then it is in order to request a sharing of information or documents by the conveyancing firm.

Is it possible for a foreign investor to repatriate all the funds introduced into SA without restriction?

Yes, however there are rules attached to such repatriation. Foreigners are able to repatriation the full proceeds (original investment amount plus profits) one day when the asset is realised but only if: * the foreigner is not a permanent resident for a period exceeding 5 years, * full paper proof of the original fund introduction in the name of the investor exists (MT103 forms), * copies of the transactional documents related to the asset purchase exist.

If these conditions are not met, the funds will be blocked from being transferred

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