We understand that behind every currency transfer there is a story that matters to you, which is why you are our most valuable currency. We value you.
Currency Partners is proud that some of the biggest names in Financial Services have chosen us as their preferred specialist Foreign Exchange provider.
Did you know?
Recent regulatory changes to Financial Emigration have given rise to a new “Tax Migration” process, which includes:
- Confirmation of tax residency in terms of the South African tax residency tests by SARS
- An Emigration Tax Clearance Certificate application with SARS, requiring supporting documentation to confirm the non-resident status;
- An “exit tax” calculation on worldwide assets, in terms of section 9H of the Income Tax Act;
- SARS approval before any funds may be expatriated by an authorised dealer
- Withdrawals of Annuity and Pension policy funds once non-resident status has been held for 3 consecutive years
Value for you
Currency Partners, together with our tax and emigration specialists, offers its clients assistance with these Tax Migration requirements, in conjunction with our foreign exchange services. The service includes:
- A SARS “change in tax residency” application
- Annuity and Pension policy withdrawals
- Emigration Tax Clearance Certificate application with SARS
- Opening of non-resident bank accounts to expatriate funds
- Preferential exchange rates so you save on your currency transfers
Whether you are emigrating or simply moving abroad for the adventure of a lifetime, managing your currency requirements under SA exchange control regulations can be a tricky process. That is why our clients seek peace of mind with expert advice and assistance from Currency Partners.
Emigration allowances are currently set at R10 million per individual and R20 million per family unit. Please contact our specialist team for assistance with special approval applications to transfer assets in excess of these foreign capital allowance limits abroad and for advice regarding the formal emigration process.
Currency Partners will navigate the red tape for you, while our Personal Dealers are equipped to monitor exchange rates, manage currency fluctuations and assist you in timing your transfer so that you not only benefit personally, but financially too.
We typically save our clients between 1% and 3% on the retail exchange rates from their bank, which translates into typical potential savings of between R10,000 – R30,000 per R1 million transferred (or currency equivalent).
For more information or assistance with your individual requirements, please email firstname.lastname@example.org or call 086 002 2007 (SA) +27 87 237 4798 (from abroad) to get in touch with our friendly Client Services team.
Licensed by the FSCA as an authorised Financial Services Provider (No. 35134). Authorised by the SARB to act as a Foreign Exchange Intermediary (No.1431).