Selling SA Property as a Non-Resident? Here’s How to Move Your Money Abroad

If you’re a non-resident who has sold property in South Africa, you might assume the proceeds can be quickly transferred overseas. However, South Africa has strict exchange control regulations to prevent financial crime and ensure legal compliance.

This means the Rand proceeds from your sale will be held in your non-resident bank account until the required documentation is submitted and approved by the bank — and in some cases, the South African Reserve Bank (SARB).

To prepare for this process, here’s a breakdown of the information you’ll need to provide to the bank and the process that this would follow.

What Documents Are Required?

To release the proceeds from your non-resident account, the following documents must typically be provided to the bank:

• Title Deed confirming the property was registered in your name. If the Title Deed is unavailable (e.g., due to a recent sale), the Offer to Purchase may be accepted.
• MT103 Swift Confirmation, which serves as proof that the original purchase funds were introduced into South Africa from a foreign source.
• A Certificate of Fair Value, verifying that the sale was conducted at arm’s length and reflects a reasonable market value.
• The Final Statement of Account from the transferring attorney, confirming that all amounts due — such as agent commissions, municipal rates, and bond settlements — have been reconciled and paid.
• A Signed Sale Agreement outlining the details of the sale, including the purchase price, buyer and seller details, and key terms.

What Happens If Documents Are Missing?

If any of the standard documents cannot be obtained; for example, if the original MT103 Swift confirmation is lost, a special application to the South African Reserve Bank (SARB) will be required to approve the repatriation of funds. This application must include a signed and dated motivational letter explaining the background and context of the transaction.

SARB typically takes around 4 to 6 weeks to process such applications, and approval is not guaranteed. Each case is considered on its own merits.

Other Considerations

During the bank’s review process, additional documentation may be requested. It’s important to work closely with your attorney and currency specialist to ensure all information is correctly prepared and submitted.

Ready to Repatriate Your Funds?

Selling property as a non-resident involves more than just the sale itself — getting your funds out of the country requires careful planning and documentation. Delays often happen when paperwork is incomplete or unavailable. To avoid frustration and unnecessary waiting, it’s best to work with a foreign exchange specialist who understands the requirements and can help guide you through the process from start to finish.

At Currency Partners, we specialise in helping non-residents navigate the complexities of moving funds out of South Africa after selling property. From ensuring your documentation is in order to guiding you through the SARB application process if needed, our experienced team is here to make the repatriation process smooth and stress-free.

Contact us today to ensure your proceeds are transferred efficiently and in full compliance with exchange control regulations. To speak to an expert in our Property team, email enquiries@currencypartners.co.za or call us on +27 21 203 0081.