Foreign Investment Tax Clearance And Currency Transfers

In association with Currency Partners financial institutions, we offer foreign tax clearance and currency transfers services.

As a South African, you may take R1 million per year abroad without needing a tax clearance, but for any amount over this, you need to apply for a tax clearance from SARS. We specialise in applying for Foreign Investment Tax Clearances for your need to send funds abroad.

Single Discretionary Allowance

The allowance is up to R1 million per calendar year (ending 31 December), for which no foreign tax clearance from SARS is required. This annual single Discretionary Allowance can be used for any legal purpose abroad and should include any travel spend from South Africa in foreign currency, such as your credit card expenditure, whilst travelling abroad.

Individual Foreign Capital Allowance

The allowance is up to R10 million per calendar year (ending 31 December) and a Foreign Tax Clearance Certificate (FTCC) issued by SARS, is required for transfers under this annual allowance. These certificates can be applied for with SARS and once issued, the certificate is valid for 12 months. Let our specialist expert team handle the application.

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