Transfer limits
Exchange control legislation governs the amount you may transfer out of South Africa.
The limits are applied on an annual basis meaning that you are free to transfer funds each and every year.
Single Discretionary Allowance (SDA)
| Amount: | R1,000,000.00 every calendar year. |
| Who can use it? | Anyone over the age of 18 who holds a green bar-coded ID book or smart card. You can be living in South Africa or overseas. |
| What can it be used for? | Any legal purpose, including offshore investment. |
| What are the tax requirements? | You must have an active tax record but do not require a tax clearance certificate. |
| How do I do it? | Call us |
Foreign Investment Allowance (FIA)
| Amount: | R10,000,000.00 every calendar year. |
| Who can use it? | Anyone over the age of 18 who holds a green bar-coded ID book or smart card. You can be living in South Africa or overseas. |
| What can it be used for? | Investing outside South Africa. |
| What are the tax requirements? | You must have an active tax record and will require a tax clearance certificate specific to foreign investment. |
| How do I do it? | Call us |
Want to move a larger amount?
It’s possible to transfer more than R11M, (being your SDA and FIA combined), out of South Africa in a calendar year by submitting an application to the Financial Surveillance Department of the South African Reserve Bank, along with verification of your tax compliance status with SARS. It’s a complex process but something we can take care of on your behalf. |
| Note: If you’re married it is perfectly acceptable to transfer funds between spouses when applying exchange control allowances. This means that a married couple can transfer R22M out of South Africa in a calendar year, using their combined allowance, before requiring applications to the South African Reserve Bank. |
| How do I do it? Call us |
