FX Capital can assist South Africans that are emigrating to Australia, or South Africans currently living in Australia with transferring money to Australia.
The South African Reserve Bank has set exchange control limits which differ depending on whether you’re emigrating or temporarily living abroad.
When you’re sending money to Australia, the following allowances are available:
- Discretionary allowance of R1 million per adult and R200,000 per child under 18 years of age, per annum – the discretionary allowance can be used for travel, foreign investment, gifts, loans, study and alimony
- Foreign Investment Allowance of R4 million per adult per annu
- Emigration Allowance
FX Capital can advise on available allowances and assist with SARS tax clearance applications and South African Reserve Bank applications.
FX Capital
FX Capital is a registered financial services company that is established since 2004 and specialises in foreign exchange, foreign payments and currency risk management. Our clients include companies and private individuals and we are able to offer expert advice and service in addition to excellent savings on exchange rates and bank fees due to the large volumes we do with our partner banks.
Services to Companies include:
- Currency risk management
- Hedging strategies
- Treasury management
- Foreign Investment Allowances – families qualify for R4 million per adult per annum
- Discretionary allowance – R1m per adult and R200k per child allowed per annum – used for foreign investment, travel, gifts, study
- Emigration allowances
- Foreign loan repayments
- Forward cover and hedging facilities for the discerning client
- SARS tax clearance applications
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