personal allowances – transferring funds
All South Africans – living in the country or abroad – have the financial freedom to transfer funds offshore without having to financially emigrate by putting their annual personal allowances to use.
Foreign Investment Allowance (FIA) – R10million per adult, per annum – tax clearance certificate required. Available to all residents and non-residents, 18+ years of age. Green barcoded South African ID and subject to an active SARS tax record.
Discretionary Allowance (DA) – R1million per adult, per annum – no tax clearance required. Available to all residents; South African non-residents may use the allowance only in the calendar year when leaving the country – 18+ years of age. Green barcoded South African ID and subject to an active SARS tax record.
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.
If you need professional advice on personal allowances / transferring funds, let us call you.