How much money can I transfer out of South Africa?
South Africa has strict foreign exchange controls that allow the South African Reserve Bank to keep track of the outflow and inflow of capital in South Africa. You can transfer a total of R11 million a year using your allowances.
Taxpayers over the age of 18 who are South African residents are eligible for the following allowances:
- R1 million single discretionary allowance (no AIT required from SARS)
- R10 million foreign investment allowance (AIT required from SARS)
Use an experienced broker to make your South African money transfers
Taking money out of South Africa can be complex; working with exchange control regulations and knowing how much money you can transfer out of South Africa requires expert knowledge and understanding.
We have years of industry experience, facilitating over 140,000 transactions for 60,000 registered clients each year, so we know how to make the process of transferring money internationally as convenient and cost-effective as possible.
We will ensure that your transfers are quick and hassle-free, no matter where you want to send them. What’s more, we will ensure that you remain compliant with South African exchange control regulations throughout any transfers you make.
If you are looking to transfer money out of South Africa and require an AIT (Approval for International Transfer), get in touch with one of our experienced brokers who will be happy to assist you through this process.
Our services include
Discretionary allowance transfers up to R1 million*
Investment allowance transfers up to R10 million**
Import and export payments for businesses
Money transfers into South Africa
Tax emigration and encashment of retirement annuities and pensions
AIT applications (tax clearances)
Inheritance and trust transfers to offshore beneficiaries
Trade finance, currency risk management and hedging strategies
* Including foreign investment, gifts, travel, alimony and student fees
** And larger amounts on special application
Get in touch
Fill in your details below and one of our consultants will be in touch as soon as they are able.
In the section "How can we help you?", please include the following information:
Do you have a South African ID?
Do you have a SARS tax number?
What Rand amount would you like to send?
Are you sending money to your own account or a third-party account?