August 2014

Dear Readers,We welcome you to the winter edition of our Newsletter.The first half of 2014 has come and gone. After a disappointing GDP growth of -0.6% during the first quarter was reported, it now seems that SA is lucky to avoid a recession. The shrinking economy is mainly due to the 5-month mining strike, the contributor for two thirds of South Africa's exports. The strike fortunately came to a stop a few weeks ago.The Department of Home Affairs has been in the newspaper headlines almost every day since the inception of the new immigration regulations. You will find further updates after our recent newsflash on further developments and headaches the new regulations have caused.As usual, we have also included information across the board regarding investments, insurance, other related topics this newsletter can be viewed under https://www.swissfin.co.za/newsletters/swissfin-newsletter-august-2014/.Enjoy the reading, with best regards,Your SwissFin – Team