Breaking News: Important Exchange Control Changes

South African resident individuals may now use their R1 Million Single Discretionary Allowance for Foreign Investment purposes without having to obtain a SARS Tax Clearance Cerificate.

In addition to the above, clients can still use their annual R4M Foreign Investment Allowance as per normal by obtaining a SARS Tax Clearance Certificate. New limits are as follows:

R 1,000,000 pa per adult - No SARS Tax Clearance Required
R 4,000,000 pa per adult - SARS Tax Clearance Required

Exchange4free offer the very best foreign exchange service to clients in South Africa with the following benefits:

  • Great exchange rates
  • No international transfer fees*
  • Zero commissions
  • Free SARS tax clearances

Exchange4free assist clients with sending money out of South Africa under the following allowances:

  • R4M Foreign Investment Allowance
  • R1M Discretionary Allowance
  • Emigration Services
  • Non-Resident Funds
  • Fund Brought into South Africa from Abroad
  • Inward Loan Approvals
  • Corporate Forex Services including trading, hedging, risk management and treasury management services

Please note that all our foreign exchange transactions are processed through an Authorised Dealer Bank in South Africa in strict accordance with exchange control and South African Reserve Bank (SARB) regulations. Exchange4free are not an Authorised Dealer in South Africa. 

Exchange4free are an authorised Financial Services Provider (FSP - 36093) regulated by the Financial Services Board (FSB).