R10 million Foreign Investment 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.

In terms of South African Reserve Bank Exchange Control, South African residents are entitled to 2 allowances:

South Africans living abroad who have not formally emigrated in terms of exchange control are entitled to make use of the R10 million foreign investment allowance and the R1 million discretionary allowance. For example, you left South Africa to go work in Australia for 2 years on a contract and ending up staying and 10 years later you are still living in Australia. You never formally emigrated in terms of exchange control; you are considered a South African Resident temporarily abroad and entitled to the Sable International”>R10 million foreign investment allowance and R1 million single discretionary allowance. In order to send funds overseas for example, from the proceeds of a property sold or an inheritance you have received you will be required to make use of your R10 million foreign investment allowance, R1 million single discretionary allowance or formally emigrate.

FX Capital can assist you with getting your tax affairs up to date, even applying to have your tax number re-activated and then obtain tax clearance in order to send funds overseas.

Sable International”>We can also assist with your emigration.

Read to emigrate or not to emigrate for an explanation on the difference between emigration and South African resident in terms of South African exchange control.

Contact FX Capital

Durban:  031 5368844
Cape Town:  021 6572153

E-mail: info@forexcapital.co.za