Foreign investment
and tax clearance
Our secure online registration is free, quick and easy and places you under no obligation. Registration only takes about 3 minutes.
Thinking of investing abroad?
We’ll help you maximise the foreign currency you’ll have available to invest by giving you access to the best pricing and service available in the market from our select panel of banking partners.
Transfers to externalise funds from South Africa are also subject to Exchange Control regulations and the annual allowances granted by the South African Reserve Bank (SARB) for this purpose. As such, each South African resident taxpayer may avail themselves of their Single Discretionary Allowance (of up to R1 million) and/or of their individual Foreign Capital Allowance (of up to R10 million) each calendar year (ending 31 December) for the purposes of direct offshore investment in foreign currency denominated assets.
Single Discretionary Allowance (SDA)
SA resident individuals are granted an annual Single Discretionary Allowance (SDA) of R1 million per calendar year by the SARB, to externalise funds for any legal purpose. The SDA does not require foreign tax clearance from SARS. Children under the age of 18 are granted an annual allowance of R200 000 each.
Individual Foreign Capital Allowance (FCA)
In addition to the SDA, SA resident individuals can also avail themselves of a Foreign Capital Allowance (FCA) of up to R10 million per calendar year. Unlike the SDA, the FCA requires foreign tax clearance from SARS which is valid for 12 months. Let our specialist expert team handle the application (at no additional charge) for you.
Special Approval Applications
If you want to externalise an amount greater than your annual allowances in the same calendar year, you can apply to the SARB for approval to do so. The special approval remains valid for 1 year and an extension may be applied for if required.
Currency Partners also handles the tricky process of obtaining your Foreign Tax Clearance Certificate from SARS (at no additional charge) required for transfers under the annual individual Foreign Capital Allowance of up to R10 million per calendar year (ending 31 December).
After obtaining your foreign tax clearance, we can then purchase the foreign currency you require at highly competitive preferential exchange rates from our banking partners, so you can save money on the retail rates from your bank.
How It Works
Register
Complete our short online registration and send us your supporting documents.
Fund Your Account
Fund your client account with ZAR by EFT and we will contact you to discuss your requirements.
Buy Currency
Receive a quote and agree the price to purchase your currency.
Speak to an expert
Register online
Alternatively, contact us by email on enquiries@currencypartners.co.za or call
+27 21 203 0081 and a member of our Private Client team will assist you.
