Comments from Bill Rawson, national president of the Institute of Estate Agents



Lack of clear information about the Immigration Act and Regulations which are due to come into operation on March 12 is evidently causing confusion in the property market, says Mr Bill Rawson, national president of the Institute of Estate Agents. According to two recent articles in a Western Cape newspaper, "foreigners are in panic", at least three have cancelled million-rand property purchases, and a Cape Town law firm has applied to have the Immigration Regulations declared unlawful on the grounds that they were finalised without public participation. Rawson urges the Department of Home Affairs to issue official information, in layman's language, to enable people to know where they stand. "This is a very unhappy state of affairs," says Rawson. "and in fact, if people really are making million-rand investment decisions based solely on newspaper articles, it is downright dangerous. I read an article which gave the impression that foreign citizens will need to be multi-millionaires in order to obtain permanent residence in this country from March onwards. However, the Act provides for several other means of obtaining permanent residence, and Minister Buthelezi, responding to other media reports on the subject, has stated that 'there are no minimal financial requirements in respect of most grounds for long-term and permanent residence permits.' "The Institute of Estate Agents and its member firms are receiving enquiries about this, and quite frankly this confusion could not have come at a worse time, right in the middle of the summer season when our country is hosting so many foreign visitors and potential investors. "We look at the excellent example set by the SA Revenue Services when capital gains tax was introduced eighteen months ago. They issued user-friendly information booklets, both in print and online, so that we all knew where we stood from the outset. I believe it is high time that this becomes standard practice in all government departments." Rawson recommends that foreign citizens who want to settle in South Africa and buy property should consult the Department of Home Affairs or else specialist immigration consultants. "Much as we would like to help, interpreting the legal technicalities of the Immigration Act is far beyond the estate agency industry's call of duty or field of expertise. But please, do not make any property-buying or selling decisions without checking facts thoroughly."