Must read information for South Africans wanting to transfer funds abroad. The following South African Reserve Bank allowances apply:
Your allowance is a maximum R1-million per calendar year
No SARS tax clearance is required
Foreign exchange for travel and other foreign transactions form part of this R1m allowance
Your allowance is R10-million per calendar year
A compliant SARS tax clearance for foreign investment is required before funds may be converted from ZAR to the nominated foreign currency
A compliant SARS tax clearance for purposes of foreign investments is required to make use of the Foreign Investment Allowance. Kuda FX offers a service of applying for the tax clearance on behalf of our clients. Once approved, the tax clearance is valid for 12 months
We specialize in converting your client’s South African Rand offshore allowance into Dollar, Sterling, Euro and other currencies for transfer to their nominated offshore investment product. Your clients will enjoy preferential rates. We help your client with the SARS tax clearance application (if required) and then we move your client’s foreign currency abroad. With our paperless & secure online registration form, we have simplified the process of opening the Investec / Bidvest CCM account for your client in their own name. Our team will go the extra mile to offer you and your client a highly rated service whilst ensuring that compliance and legislative requirements are met.
Kuda FX assists non-resident clients with the exchange control and SARB approvals required for the repatriation or remittance of funds from South Africa. We facilitate funds coming into South Africa, ensuring that legislative requirements are met, and proper record keeping is done for future repatriation of the funds.
South African’s working abroad can transfer funds back to South Africa at very competitive exchange rates and receive our personal touch.
Attention: Investment Houses, Fund Managers, Wealth Managers and Independent Financial Advisors
Kuda specializes in converting your client’s South African Rand offshore allowance into Dollar, Sterling, Euro and other currencies for transfer to their offshore investment product.
Why our service and expertise is unrivalled:
We assist non-resident clients with the exchange control and SARB approvals required for the movement of funds from South Africa. We facilitate funds coming into South Africa, ensuring that all legal requirements are met. We retain a professional recording of the process in the event of future repatriation of the funds.
South Africans living and working abroad can transfer funds back into South Africa at highly competitive exchange rates, while benefiting from our renowned and trusted personal touch.