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Transferring money out of South Africa

South Africa’s foreign exchange regulations are complex. Transferring money in and out of the country requires expert knowledge and understanding of the legislation requirements, which we can provide you with.

The best way to get your funds out of South Africa

Many private individuals and businesses in South Africa are led to believe that they must look to their banks and financial institutions for large-scale money transfers and foreign exchange. However, these options often fall short in terms of advice, competitive pricing and attractive rates. 

Our forex division is a business that offers international money transfers at great rates and whose core focus is on providing exceptional customer service. With us you won't need a bank for your international money transfers ever again.

Why transfer with us

We are an established business and, as your forex partner, can get you competitive rates when transferring money in or out of South Africa. Our team is able to offer more attractive rates than South African retail banks for both commercial enterprises and individuals. 

With over a decade of experience, we tailor our foreign exchange service to your unique requirements. 

 

Sable International's financial emigration service and forex team offers:

  • Experience

    Specialist knowledge of all exchange regulations.

  • Cost-effectiveness

    Reduced foreign exchange costs passed on to you.

  • Personalised service

    Customer service and a commitment to excellence.

  • Fast transfers

    Quick settlement and transfer to destination accounts.

 

How much can you transfer?

Whether or not you will need a tax clearance certificate from the South African Reserve Bank (SARB) will depend on how much money you intend to transfer in a calendar year, as well as whether you are living in South Africa.

You can transfer a total of R11 million a year

  • R1 million discretionary allowance (no tax clearance required from SARS
  • R10 million foreign investment allowance (tax clearance required from SARS

Tax-payers over the age of 18 who are South African residents are eligible for this allowance. It is mandatory to have a tax clearance certificate that is valid for 12 months to take advantage of this allowance. As of 1 April 2015, the emigration allowance increased from R4 million to R10 million per person per calendar year and R20 million per family unit.

We can help you make use of the allowance, free of charge. Once the tax clearance is received, the process is quick and easy.

If you want to exceed the amounts above, you will need to apply to the SARB for a special dispensation. These applications are rarely straightforward, but our forex team can guide you through the process.

 

For help on getting your funds out of South Africa, click on the button below.

Get started

 

South Africa

Cape Town

Regent Square
Doncaster Road
Kenilworth 7708 +27 (0) 21 657 2120

Durban

201 The Annex
Ridgeside Office Park
Umhlanga +27 (0) 31 536 8843

United Kingdom

London

Castlewood House
77/91 New Oxford Street
WC1A 1DG +44 (0) 20 7759 7514

Croydon

5-7 Selsdon Road
South Croydon
CR2 6PU +44 (0) 20 7759 7581

Australia

Melbourne

9 Yarra Street
South Yarra
VIC 3141 +613 (0) 8651 4500

Sable International is a trading name of 1st Contact Money Limited (company number 7070528) registered in England and Wales. Sable International is authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Board in South Africa (FSP no. 41900) and holds an Australian Financial Services License issued by ASIC to deal in foreign exchange (AFS License number 335 126).

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