personal allowances - transferring funds


As a South African - living in the country or abroad - you are afforded annual allowances designed to transfer money offshore without having to go through the financial emigration process.

Foreign Investment Allowance (FIA) - R4million per adult, per annum - tax clearance certificate required.

Discretionary Allowance (DA) - R1million per adult, per annum - no tax clearance required. Available to all residents and non-residents in the calendar year you leave the country.

Terms and Conditions:

  • 18+ years of age
  • green barcoded South African ID document
  • an active SARS tax record<

All transfers out of South Africa are subject to exchange control. These regulations are governed by the South African Reserve Bank and a breach is deemed a criminal offence.

For more information on personal allowances, offshore funds transfer; forex and associated banking solutions let one of our advisers call you

cashkows.com is an authorised Financial Services Provider regulated by the South African Financial Services Board. FSP # 42872. Approved South African Reserve Bank foreign exchange intermediary. Internationally Accredited PPS Advisor.

 

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