Tax Clearance

South Africans have to obtain tax clearance from SARS before they can utilise their foreign investment allowance.

South Africans are entitled to an annual foreign investment allowance of R4 million.

The South African Reserve Bank relaxed exchange controls in November 2010 by increasing the once in a life-time allowance of R4 million to R4 million per annum.

South Africans wishing to utilise this allowance need to have a green bar coded identity document and require tax clearance from SARS. Note this tax clearance must be for foreign investment allowance and will always denote an amount. The tax clearance certificate will be valid for 12 months from date of issue.

FX Capital can assist with tax clearance applications and foreign payments using foreign investment allowance.

Contact us for more information on how to apply for foreign investment allowance tax clearance and make payments using your foreign investment allowance.