Emigration allowance

As of 01 March 2018, FX Capital has merged with Sable International. Don’t worry, if you’re an FX Capital client, your FX Capital team, contacts and unparalleled service will remain intact as everyone you’ve dealt with at FX Capital are still part of the Sable International team, just operating under a new name.

We are industry experts with over 20 years of experience. We assist companies and private clients with all their foreign exchange related transfers and cross-border payments. Our foreign exchange solutions are tailored to your unique requirements

We have offices in six cities across three continents, including in Johannesburg, Cape Town and Durban. We help our clients make international money transfers to global destinations, simply and quickly.

Our forex service is 100% fully regulated and above board. We are registered and accredited with all of the relevant bodies in all of the jurisdictions that we operate in.

If you are looking to transfer funds over R100,000 out of South Africa get in touch with one of our experienced brokers who will be happy to assist you through this process.

Wikipedia defines emigration as follows: “Emigration is the act of leaving one’s country or region with the intent to settle permanently in another. It is the same as immigration but from the perspective of the country of origin.”

Since South Africa has exchange control legislation governed by the South African Reserve Bank, when South Africans emigrate (to go and live in another country) they have the option of financially emigrating as well and effectively placing their emigration on record with the South African Reserve Bank. Once you have formally (financially) emigrated then the South African Reserve Bank will change your residency status from resident to non-resident and your bank will open a blocked Rand account where all your South African assets will be housed for transfer overseas.

This change in your residency status has no effect on your right to South African citizenship or South African passport, it is simply an exchange control matter.

There are reasons to emigrate and reasons not to, and there are cost implications to emigrating – one doesn’t always need to emigrate considering the allowances already available to private individuals.

Some of the reasons to emigrate may include:

Contact us for a free consultation on whether to emigrate or not to emigrate and compare our costs for processing your emigration.

Contact FX Capital

Durban:  031 5368844
Cape Town:  021 6572153

E-mail: info@forexcapital.co.za