Cost-effective offshore payments and wealth transfers
When you have financial ties to South Africa and require transfer of your funds abroad:
We provide simple, cost-effective foreign exchange services that result in more currency in your pocket.
South African inheritance & trust transfers
If you live overseas and are the beneficiary of a South African estate or trust, transferring funds out of the country can be quite complicated.
The process required depends on which of the following categories you fall into from an exchange control status:
- South African resident temporarily abroad: you have left the country but haven’t completed the financial emigration process.
- South African emigrant: you have left the country and completed the financial emigration process via the South African Reserve Bank.
- Non-resident: you have never been resident in South Africa.
For each of these scenarios we have a complete solution that takes care of all regulatory requirements and facilitates the transfer of funds at the most competitive exchange rates.
Talk to us today to determine your status, the timeframe to complete the process and to obtain a quote for our services.
Offshore payments from South Africa
At FX Rand we offer a simple, safe and cost-effective solution for making offshore payments. All you need is your green bar-coded ID book or smart card and an active tax record. We'll take care of the rest.
The first R1M you transfer out of South Africa each year does not require a tax clearance and funds can be used for any legal purpose, such as:
- settling overseas accounts
- overseas property maintenance
- funding offshore bank accounts
- high-value overseas purchases (normally too costly via credit card)
- making small to medium investments
Whenever you transfer funds out of the country, strict exchange control regulations must be complied with, but again we’ve got this covered, ensuring your complete peace of mind!
Let us explain the process for your specific purpose and quote rates.
Move South African wealth to a new home
Whether you’re already living overseas or are in the process of moving, FX Rand will be pleased to guide you when it comes to the financial footprint you have in South Africa.
It’s important to understand the options for each of your assets, pensions, investments etc. and the impact of timing and tax in terms of decision making. To help with this process and ensure your decisions are fully informed speak to one of our consultants. It’s free and without obligation!
For those assets you liquidate, we offer a complete transfer solution that addresses all tax and exchange control requirements and provides the most competitive exchange rates, ensuring maximum bottom line in your new home currency.
South African global financial citizen
You may have been born in South Africa or have certain historical and financial ties to the country, but that doesn't mean you're bound by its borders. Having the flexibility to live and travel abroad is your right and often the first step towards achieving "global financial citizenship".
- local and offshore bank accounts
- exchange control compliance and foreign exchange
- a variety of local and offshore investments, such as:
- balanced equity portfolios (managed or in your own control)
- structured deposits
- unitised funds
- multi-currency fixed term deposits
- offshore retirement solutions
- jurisdictional estate planning
- cross-border tax solutions
- ongoing tax compliance with SARS
- transfer of South African source inheritance or trust distributions
The complexities and uncertainties associated with "global financial citizenship" related to South Africa can be overwhelming. Let us journey with you in achieving your personal goals.