individual FOREIGN EXCHANGE
SOUTH AFRICAN CLIENTS
South African clients
For South Africans wanting to transfer funds abroad the following South African Reserve Bank allowances apply.
Single Discretionary Allowance ( SDA )
The allowance is R 1m per calendar year.
To avail of the single discretionary allowance, no SARS tax clearance if required.
Travel foreign exchange and other foreign transactions forms part of this allowance.
Foreign Investment Allowance ( FIA )
The allowance is R 10m per calendar year.
A compliant SARS tax clearance for purposes of foreign investment is required before funds may be convert from ZAR to the nominated foreign currency.
Special Clearance Applications
For amounts exceeding the single discretionary and foreign investment allowances, a special application can be made. There is no limit on the amounts per application or number of applications submitted.
The process includes an application to SARS for a letter of compliance. Once the letter of compliance is issued, an application is made to the SARB requesting permission to externalize the funds.
SARS Tax Clearances
To avail of the Foreign Investment Allowance, a compliant SARS tax clearance for foreign investments is required. Kuda FX offer the complimentary service of applying for the tax clearance on behalf of our clients. Once approved, the tax clearance is valid for 12 months from date of issue.
Kuda FX facilitates the emigration applications to the South African Reserve Bank.
The emigration allowance is R 10m per single person and R 20m per family unit.
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 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.
The cryptocurrency arbitrage has become an established method for people to make money by taking advantage of the price difference that exists between the local and foreign crypto currency exchanges. Kuda FX assists clients by not only providing them with the most optimal foreign exchange rates but we also ensure that our clients funds reflect abroad on the day that it is booked. This enables Kuda FX clients to secure higher arbitrage returns.
Why trade arbitrage via Kuda FX:
NON- SOUTH AFRICAN CLIENTS
CORPORATE FOREIGN EXCHANGE
6B Sunwood Office Park
Tel: +27 (12) 010 0916
MON-FRI: 08:00 – 17:00
PO Box 151,