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South-Africa

Understanding SARB exchange control regulations

Exchange controls regulate and restrict the outflow and inflow of capital in South Africa. All forex transactions are subject to these regulations, whether you are travelling, emigrating, immigrating, investing, returning to South Africa, importing or exporting goods and services.

How we help you transfer money out of South Africa easily

We prepare and submit Reserve Bank applications on behalf of private and corporate clients for any transfers that do not fall into pre-approved allowances. This makes sending money into or out of South Africa as easy as possible.

Most people are aware of exchange control regulations, even if they lack the understanding of the finer details and implications. Due to the complexity of these regulations there is a perception that it is difficult to move money in and out of South Africa.

There is even a widely held misconception that once you have brought money into South Africa it's virtually impossible to get it out again. This, however, is not the case.

There are no limitations as to how much money can be brought into South Africa, but there are limitations on the amount of money that can be transferred out of the Republic. In addition to this, all funds transferred into or out of South Africa must be declared to the Reserve Bank.

What about non-South African citizens?

For non-South Africans, their exchange control status will determine if there are limitations on transferring money out of South Africa that was previously brought in to the country.

A client’s exchange control status is different to their tax status. It is vital for an individual to know their status from the outset so future money transfers can be easily executed.

 

Your exchange control queries answered

Contact our forex team

South Africa

Phone us: +27 (0) 21 657 2153

United Kingdom

South Africa

Regent Square
Doncaster Road
Kenilworth 7708
Cape Town
t: +27 (0) 21 657 2120

United Kingdom

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

Australia

Suite 8.06
9 Yarra Street
South Yarra
Melbourne VIC 3141
t: +613 (0) 86 514 500

Hong Kong

Level 1102
The Lee Gardens
33 Hysan Avenue
Causeway Bay, Hong Kong
t: +852 3959 8681

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