On death, South African residents are liable for estate duty based on their worldwide assets.

However, both the UK and the US also levy an estate duty on certain situs assets, i.e. certain assets that are physically situated within their jurisdiction. Collectively, they are known as situs taxes.

By using the Clarity platform, your contracting party is Investec Bank Limited, with a South African jurisdiction. Situs taxes are not applicable to assets on the Clarity platform. South African tax rules will apply to assets on the Clarity platform.

Please note that while we possess a good understanding of US and UK situs tax, it is strongly recommended that you seek tax advice from your tax practitioner.