A South African with a valid green ID book or smart card has a single discretionary allowance of R1 million per person over the age of 18 years. The allowance runs from 1 January to 31 December and no tax clearance is required to avail of this allowance. Please note travel forex, land arrangements and any other foreign transactions forms part of your single discretionary allowance.
A taxpayer in good standing and over the age of 18 years, can invest up to R10 million in his/her name outside the Common Monetary Area (CMA-Lesotho, Swaziland, and Namibia), per calendar year. A Tax Clearance Certificate for foreign investments must be obtained.
Kudex assist individuals in the procedures obtaining tax clearance certificates free of charge, validating your status as a tax-payer for offshore investment purposes.
Services Available pertaining to the above allowances:
- Offshore Investments
- Golden Visas
- Crypto Currency Trades
- Transfers Of Property Proceeds
- Incoming Funds From Abroad
- Transfers To Offshore Bank Accounts
- Non Residence In South Africa
- SARS Tax Clearances
- Financial Emigration
- Kudex facilitate the process of incoming / receivable currency from abroad. We can assist with the exchange control regulation around these payments
- Import Payments
- Export Payment Receipts and fund clearing
- South African Reserve Bank Applications
- Letter of Credit (LC)
- Bank Guarantees
- Exchange Control Services