SwissFin – SwissSure Newsletter July 2026

Dear Readers,

We welcome you to our winter edition of our Newsletter.

We were surprised by the first winter storms of this year as early as May, earlier than usual. Our claims department is still extremely busy processing the various storm-related damages. At least the rainfall has meant that our dams in the Western Cape have filled up nicely, and more rain is expected at this time of year.

As usual, we have included information across the board regarding investments, short-term insurance, immigration and other related topics. This newsletter can also be viewed under https://www.swissfin.co.za/newsletters/swissfin-swisssure-newsletter-july-2026/.

We would like to take this opportunity to thank our customers once again for their interest in our services and your loyalty to our company! We truly appreciate it!

Enjoy the reading, with best regards,

Your SwissFin / SwissSure Team

1. INVESTMENTS

• Our bank interest rates, insurance plans, tax-free investment amounts and our foreign exchange rates

2. LOCAL AND INTERNATIONAL FINANCIAL NEWS

• Reserve Bank increases repo rate – households brace for pain

3. TAXATION

• SARS application for non-residents transferring funds abroad
• Tax season opened

4. SHORT-TERM INSURANCE NEWS

• Save Renasa’s WhatsApp emergency assist
• Old Mutual Insure: New debit order dispute rules
• Body Corporates: How to avoid and deal with liability claims
• More details on MUA’s Tyre and Rim cover
• Cross Country Call Centre Number
• AMI introduces guaranteed value cover
• Santam launches cash back reward

5. IMMIGRATION

• VFS’ new fees
• Update on the new Immigration Act

6. HEALTH INSURANCE

• Turnberry Gap Cover: New concessions including nasal cover
• Update from Global Health

7. OTHER

• Confusion with conversions of foreign driver licences
• New travel declarations into and from South Africa
• We value your comment

Our bank interest rates, insurance plans, tax-free investment amounts and our foreign exchange rates >>

We currently offer the following (nominal) interest rates on our Investec banking platform:

Our Bank Deposits ››

Notice Deposits ››

Minimum investment is R 100’000. Terms and conditions apply, and the rate is dependent on the investment amount. If interest is not withdrawn, the effective interest rate is higher.

Insurance Plans: Guaranteed income/growth plans (5-year term), approx. 80% of income tax-free: ››

Tax-free interest income – maximum investment amounts: ››

R 1,75 Mio. for taxpayers under the age of 65
R 2,7 Mio. for taxpayers between the age of 65 and 75
R 2,9 Mio. for taxpayers over the age of 75

These figures mean that you can invest these amounts on our banking platform and not pay any tax. Couples married in community of property can double these amounts!

Underlying assumptions: 7,0 % effective interest rate and no other income sources.

SwissSure Forex Rates ››

The above table shows that our rates are very competitive. Over and above, we do not charge any fees when the funds are credited or transferred to another local account.

Should you wish to receive more information on our money market fund offering, the tax-efficient income plans or our forex offerings please contact Mr. Tony R. Hug on .

Reserve Bank increases repo rate – households brace for pain ››

The South African reserve bank increased the key lending rate by 25 basis points to 7% on Thursday 28th May. Governor Lesetja Kganyago defended the decision to hike the rates before the full effect of soaring fuel prices materialises.

Consumer inflation has accelerated to 4,5% year on year, from 3,1% in April, reaching the top tolerance band of the Reserve Bank.

Another worrying point is El Niño, a weather pattern that seems to be forming currently, and which typically brings drought to parts of South Africa later this year.

Higher fuel costs have already taken toll on business confidence. The index slumped in the second quarter by eight points to 39, reflecting the deteriorating environment due to the persistent Middle East crises.

In addition, the producer price index (PPI) has doubled to 4,8%. The PPI measures the costs of locally produced commodities and costs are expected to rise over the next 6 months.

All the signs indicate that the already stretched South African consumer will have to tighten the belts even more!

SARS application for non-residents transferring funds abroad ››

We received a few enquiries after our article in the last newsletter. Herewith some clarification:

Non-resident applicants cannot apply for a tax compliance status (TCS) if they are not registered on the SARS registered database. They need to obtain a Manual Letter of Compliance if they wish to transfer funds offshore.

Supporting Documentation to be provided by non-residents not registered with SARS:

• Signed Power of attorney (if required)
• Full Names
• Date of Birth
• Previous SA tax number (if available)
• SA ID number (if available)
• Date ceased to be a SA resident
• Country of current residence
• Residential address

Documentary proof of non-residency status. This can be in the form of (but not limited to) the following:

• Copy of Passport
• Copy of tax Residency Certificate – If applicable
• Copy of Drivers Licence
• Copy of a utility bill or rental agreement
• Or any other information that will prove non-residency status
• Proof of funds to be expatriated (this will include the amount requested to be transferred)
• Refer to AIT supporting documentation
• Statement of South African Assets and Liabilities for the past three years

Note: Applications by private individuals who cease to be residents for tax purposes and who are no longer active on the SARS registered database and received an inheritance or life insurance policy (excluding lump sum benefits from pension preservation, provident preservation, retirement annuity funds and annuities from insurers) up to R10 million, will not be required to apply to SARS for a Manual Letter of Compliance – Transfer of funds. For applications above R10 million, applicants are required to obtain a Manual Letter of Compliance – Transfer of funds, from SARS.

To submit a request with the necessary supporting documents, please e-mail .

Note: This mailbox (MLCA) is solely designated for applications, where non-residents are not registered and request fund transfers offshore and should not be used otherwise.

Tax season opened ››

The South African Revenue Service (SARS) has announced the filing dates for the 2026 tax season, while also unveiling several changes aimed at making the process simpler and more efficient for taxpayers.

According to SARS, taxpayers who qualify for auto assessments will receive notifications between 1 and 12 July 2026.

The filing periods for other taxpayers are as follows:

SARS has encouraged taxpayers not to leave submissions until the last minute and to ensure that all supporting documentation is available before filing.

Save Renasa’s WhatsApp emergency assist ››

To make accessing assistance easier, the insurer has introduced a dedicated WhatsApp channel where policyholders/members can now message the call centre partners directly, to log an emergency case quickly and conveniently.

This channel allows members to report an emergency, register a case or receive prompter assistance and guidance.

We would like to ask all Renasa clients to save the following WhatsApp Number:

060 562 9097

Please take note, that this is in addition to both the call centre number that clients can dial and mobile app if applicable.

Please click here for the detailed process flow & benefit summary.

Old Mutual Insure: New debit order dispute rules ››

Please click here to read the communication regarding an important update on debit order dispute rules.

Body Corporates: How to avoid and deal with liability claims ››

Often claims occurring at body corporates happen due to a lack of maintenance or oversight. Besides the physical damage to a building, there is another great risk of liability claims against the body corporate.

Herewith some tips how to reduce the likelihood of claims:

• Regular inspections and ongoing maintenance
• Prompt repair of hazards or faulty equipment
• Clear warning signage when cleaning or repairs are underway
• Routine servicing of lifts, gates and electrical systems
• Keeping proper incident, inspection and maintenance records
• Visible and clearly written disclaimers where appropriate

When an incident occurs – whether it involves injury or damage to third party property – the actions taken in the moments and hours that follow can significantly impact the outcome of a claim. Key steps to consider include:

• Ensure the immediate safety of all persons and arrange medical assistance if required
• Take reasonable steps to prevent further injury or damage
• Report the incident to the relevant managing agent or responsible person without delay
• Obtain statements and contact details from any witnesses
• Never admit liability or accept responsibility at the scene of an incident, as this may prejudice the ability of insurers to accurately assess and respond to the claim

Communication with brokers and insurers should happen as soon as reasonably possible. Please note that you have 30 days to report a claim.

More details on MUA’s Tyre and Rim cover ››

Following the article in our last newsletter, we had several enquiries regarding the above.

Please click here to familiarise yourself with the product offering, premiums and policy conditions.

Cross Country Call Centre Number ››

Please be advised that CIMS South Africa, the company that administers the Cross Country Call Centre and provides the Roadside Assistance benefit, will be closing its operations at the end of May 2026.

We can confirm that the new service provider will be fully operational from 1 June 2026, and please note that the toll-free number – 0800 005 688 – will remain unchanged.

In the meantime, and should an emergency arise, all services remain fully operational. The Call Centre continues to be fully staffed and operational with no disruption to service.

AMI introduces guaranteed value cover ››

Many insurers have started offering valuations to domestic buildings and contents, in order to avoid under- or overinsurance.

AMI has gone one step further: Clients can have the same benefit in exchange for an additional premium, but no physical valuation of the assets is done. This is ideal for clients who do not wish strangers visiting their homes for valuation purposes.

Please click here for more information.

Santam launches cash back reward ››

The new benefit kicked off on 1 July 2026.

Clients who remain claim free for a set period of years on a qualifying Santam policy, earn a cashback payout of 10% on actual premiums paid.

Because underwriting managers like Vantage and Echelon are part of the Santam holdings, the cashback is applicable to these policies as well.

Please click here to read further details.

VFS’ new fees ››

Please be aware that VFS service fees have increased.

Effective from 8 June 2026, a revised service fee across all categories of ZAR 1,750 (inclusive of taxes) will apply. From this date, all online payments will automatically reflect the updated fee. Payments made before 8 June will not be affected by this change.

Comment: VFS made a global profit of R 3bn last year. A global investigation by Lighthouse Reports and News24 found that the profits of visa giant VFS Global have quadrupled as optional extras at visa offices have expanded.

In a 16-country visa receipt sample, South Africans spent the most, on average, on paid extras such as premium lounges, SMS updates, and courier delivery.

The investigation revealed what some global applicants and ex-employees believe are subtle forms of coercion designed to inflate the VFS bill at checkout.

Update on the new Immigration Act ››

The South African Cabinet has approved the final revised White Paper on Citizenship, Immigration and Refugee Protection (CIRP) on 26 March 2026. There is still a long legislative process to be endured, but the changes are coming.

The White Paper was Cabinet-approved on 26 March 2026. It sets the policy direction – but it is not yet law. The DHA must now draft new legislation (a new Immigration Act and supporting regulations) to give legal effect to these proposals. This process will involve further parliamentary scrutiny and public comment.

The most affected categories are retirees and financially independent applicants. We have elaborated on the changes in our last newsletter and recommended that potential applicants submit their application under the current legislation.

Other notable changes are:

Electronic Travel Authorisation (ETA)

One of the most significant operational changes is the rollout of the Electronic Travel Authorisation (ETA) system. The White Paper envisions the ETA becoming the single point of application, adjudication, and communication for all visa categories over time – eliminating paper-based and VFS-dependent processes.

Re-introduction of Regulated Immigration Practitioners

The White Paper proposes that only registered immigration practitioners, attorneys, and advocates will be permitted to represent clients in immigration matters. This is intended to address the proliferation of unregulated service providers – the so-called ‘fly-by-night’ operators – who disappear after taking fees, increasing corruption risk and client harm. The South African Council for Immigration Practitioners (SACIP) will be the regulatory body.

Introduction of Home Affairs Administrative Review Authority (HARA)

When the DHA makes an adverse decision – refusing a visa, cancelling a permit, refusing citizenship, or ordering deportation – there is currently no dedicated, independent administrative body to review that decision. Applicants must either accept it, attempt an internal DHA appeal (with the same department that made the original decision), or go straight to the High Court. This is expensive, slow, and disproportionate for what are often routine administrative errors.

HARA is a new, independent administrative review body that will sit between the DHA and the courts. It will conduct independent reviews and appeals of all administrative decisions made by the DHA and its entities. It will be the single point of external administrative challenge for anyone aggrieved by a Home Affairs decision – before they go to court.

Critically, HARA will be administratively housed within the DHA (reporting to the Minister of Home Affairs) but will be functionally independent in fulfilling its mandate. Its decisions will be binding on all DHA officers and applicants but will remain subject to judicial review in the courts.

In addition to appeals and reviews, HARA will also consider all applications for waivers and exemptions. This includes the notoriously inconsistent undesirability upliftment process.

Turnberry Gap Cover: New concessions including nasal cover ››

The insurer has introduced new concessions from 1 May 2026 to 30 September 2026:

For New Clients:

• A 3-month general waiting period applies to all benefits (except in the event of an accident, which occurred while on the Policy)
• A 10-month waiting period on pregnancy/childbirth
• A 12-month waiting period on investigations, treatment, or surgery for: muscular-skeletal (except in the event of an accident, which occurred while on the Policy), gastroscopies, colonoscopies, sigmoidoscopies, cancer and nasal/sinus conditions

Should you require any further information, please don’t hesitate to contact us.

Update from Global Health ››

The insurer is entering the next phase of this transition:

• E-mails are switching from @foyerglobalhealth.com to @globalhealth.insurance
• For all insured members with an 8-digit policy number beginning with 61, the switch will take effect on their respective policy renewal date

For all other insured members, email addresses used by Global Health will be displayed as @globalhealth.insurance starting June 1, 2026. This applies to both personal contact emails and shared mailboxes.

If you have any questions or require further information, please contact Global Health at .

Confusion with conversions of foreign driver licences ››

There are communications on social media and some websites that seem to publish discrepancies when it comes to the time limit within the foreign licences need to be converted.

We did seek clarity and the Western Cape’s Mobility Department has confirmed the following:

Regulation 110 of the National Road Traffic Regulations was amended in stages:

The change introducing the 5-year period was inserted by Government Notice R.541 of 8 July 2011. This inserted the proviso to Regulation 110(3)(b), stating that the validity of the foreign licence “shall not exceed a period of five years” from the date permanent residence was granted.

Regulation 110(5) was then further substituted by Government Notice R.890 of 22 November 2013, which confirmed that a foreign licence may be exchanged “within a period of 5 years”.

The period is still 5 years – the one-year period refers to the application for an ID book, once the PR has been issued.

Sadly, many government websites and some provincial authorities still incorrectly refer to the old 1-year period. For example, the national government website still states that conversion must occur within one year of obtaining permanent residence, which is incorrect.

New travel declarations into and from South Africa ››

From 1 July 2026, travellers entering or leaving South Africa must submit their traveller declaration online before they travel, unless they qualify for one of the limited paper-based
exceptions. The declaration forms part of the Customs process and helps travellers meet their legal obligation to declare goods, currency and other relevant items in their possession.
We suggest that you download the app “South African Traveller Management System – SATMS” on your phone. We have tested it and it seems to be an easy process. For more information please click on this link.

We value your comment ››

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