If you were born in South Africa but have since left, trying to move money into your international bank account from South Africa can be quite a challenge, but we’re here to help.
If you want to use your annual discretionary allowance (R1m per calendar year) we can help you benefit from great rates and low fees.
Remember, as a South African, you only need a registered tax number to make use of your annual R1m allowance.
If you’re looking to invest overseas in the NASDAQ or Dow Jones, a new business or that dream holiday home, come to us and we’ll help you through the necessary paperwork, obtain your tax clearance and make sure we time things just right.
While transfers over R11m aren’t a standard allowance, it is possible if you have everything in order, and with the help of our team it can be submitted and approved within a couple of months.
Moving money into or out of a Trust has become quite a tricky business – but with us you can navigate all the challenges and paperwork linked to Trusts and their recipients.
If you’re a foreign resident living in South Africa different rules apply. Whether you’re repatriating funds that you brought to South Africa or have earned money working for a South African company, our team of experts know exactly what the SARB want in order to facilitate the transfer.Find out more Create your free account
The length of time from enquiry to transfer depends on your requirements, and each and every requirement is unique.
The most difficult part of the process of obtaining authorisation to move funds out of South Africa is obtaining your SARS tax clearance certificate. This can take 3-4 weeks and is an expensive process if you use an accountant or tax advisor.
We can get SARS tax clearance for our customers within 5-7 working days and will cover the cost subject to the client using Currencies Direct for their foreign exchange conversion and transfer.
The remainder of the process can be completed in a day or so once we receive your SARS tax clearance certificate.
We operate in strict accordance with exchange control and anti-money laundering regulations.
All our foreign exchange transactions are processed through an Authorised Dealer Bank in South Africa in strict accordance with South African Reserve Bank (SARB) Exchange Control Rules and Regulations.
Our client funds are held in a separate personalised interest bearing account with a SARB approved Authorised Dealer Bank.
We have an ‘Excellent’ Trustscore on Trustpilot and thousands of 5* reviews.