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Cape Town or Bust!

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mmwpe

From: United States

1/5/2015 16:31 EST

Recently retired American who's lived, worked & gone to school in SA previously. I plan on an extended trip to CT mid Jan mid Apr 2015 to make sure that SA is my destiny, specifically Cape Town. I know Cape Town well - I've ridden the Argus a few times and am planning on doing it again this year.

Could use some advice on the following:
1. Real Estate Agent who knows the coastal area from Mouille Point to Hout Bay. Experience in international transactions would be a plus. An attorney might be a value adder. I haven't decided on a flat, condo or house yet but I'm going to want a braai area for sure;
2. Insurance Agent(s) versed in health, auto & property insurance;
3. General Practitioner Physician;
4. Accountant that can keep me out of trouble in both SA &, possibly the US. My concern is that there's an interface between SA / US requirements. I'm not sure what the details are yet;
5. Bank that can comply w/ FATCA, good exchange rate, credit card, etc.

I don't want a sales pitch from anybody. I'd rather make a connection w/ 1 or a couple of like-minded folks who've got their list and lessons-learned file. A chat over a few cold ones is my idea. Thanks!

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DaveSAfrica

1/6/2015 11:21 EST

My wife and I are Americans who retired to Somerset West (40 minutes from the CBD) over 10 years ago and have always rented accommodations. We are extremely happy here. We had no previous connection with people in South Africa, but we have been well integrated in the community. (The U3A is a very strong organization for retired people here; there are 1600 active members in just this part of the city. Annual membership is R50.)

You didn't mention needing a retirement visa. If you haven't done so already, I would recommend that you talk with an immigration consultant early in your visit. You must be very careful in your choice; I can recommend a company if we get together.

To respond to your questions:

1) I have limited knowledge of real estate people in the area you are considering, but I did sell a flat (not my own) through a very competent agent in Green Point. I would suggest that you consider Somerset West and surrounding area as a possible location which has several advantages (and, of course, disadvantages) over the area you are looking at.

2) I believe you need to approach separate brokers to get info on health insurance and "short term insurance", the other stuff you need. One thing to be aware of is that as foreigners, we pay substantially more than South Africans for the same health coverage -- none-the-less it's a bargain! One needs to be careful in selecting a company for health coverage - it's difficult to change from one organization to another.

3) Selecting a physician is highly dependent on where you ultimately live.

4) I have not had the need for an accountant and have had no problem with SARS or the IRS. H&R Block still does my taxes.

5) Banks are very conservative (good during the 2008 turmoil) but bureaucratic and expensive. I have been with a quite new, upstart bank, Capitec, for 10 years. They have limited foreign services, but are cheap, have a good Internet site, and support real time transactions.

My wife and I will be overseas from 13 January until 6 February. If you want to get together after that, just get in touch. (In the meantime, I will be connecting with the Internet regularly.)

Best regards,

Dave

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