Investments and other Single Discretionary Allowances

The SDA of R1million per calendar may be utilised by Residents (natural persons) who are 18 years and older without the requirement to obtain a tax clearance from SARS and which may be used for travel, gifts, and any legal purpose abroad (including for investment purposes).
Authorised Dealers may allow the transfer, as a foreign capital allowance, of up to a total amount of R10 million per calendar year per private individual who is a taxpayer in good standing and is 18 years and older, for investment purposes abroad. These transfers require a Tax Clearance Status (TCS) PIN letter issued by the SARS and will contain the individual’s tax number and TCS PIN. Authorised Dealers will use the information contained in the TCS PIN letter to verify that the amount to be transferred does not exceed the amount approved by SARS.

Proof of address and a Transactional Banking account

  • Processing fees applicable for each transaction
  • Account fees based on account held

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To assist you with better understanding the Exchange Control regulations applicable to you and your transaction please read the following guidelines as published by the SARB

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