Individual offshore allowances

Over
0
Clients
Over
0
New Clients This Year
Trading over
zar 0 billion
of foreign currency
service: Individual offshore allowances
Individual Offshore Allowances provide you with a mechanism to transfer your funds offshore in order to invest in offshore portfolios. These portfolios include but are not limited to investments, property and bank accounts.

Areas of Expertise

The South African Reserve Bank allows an individual to transfer up to R11 million offshore each year as follows:

  • a single Discretionary Allowance of R1 million per calendar year; and
  • a Foreign Investment Allowance of R10 million per calendar year (a Tax Clearance Certificate from SARS, which is valid for 12 months, is required for this allowance), both allowances are available to taxpaying South African residents who are at least 18 years of age.

We can add value to this process, using our experience and expertise to:

  • facilitate the transfer on your behalf, we conclude the whole administration process (opening bank accounts, FICA and facilitating tax clearance applications).
  • achieve favourable exchange rates for you, by using our scale and relationships as an intermediary that is affiliated with various banking partners.
  • provide you with expert advice on timing the market, to ensure you get the most out of your rand (please note this may contain some risk)

FX for travel

We are also able to assist you with foreign currency (notes) for travel purposes. If you require a particular currency for your upcoming international travel arrangements, we can assist you in obtaining this. We offer a streamlined process, favourable exchange rates and a personal touch. We are able to transact in all major currencies and will also arrange secure delivery of the currency.

Get in touch
with us

Want answers to a pressing question about our specialist financial services? Fill in the form and we’ll get back to you shortly

Prefer talking?

View a list of all our office numbers and addresses

Join our mailing list for all the latest updates

Copyright © Merchant West. All rights reserved. Web design by Perfect Circle and Brand Strategy by SimonSays

Disclaimer

Merchant West (Pty) Ltd
Merchant West (Pty) Ltd Registration Number: 2000/012050/07 is an Authorised Financial Services and Credit Provider. (FSP: 7042) (NCRCP4298)

Disclaimer
Merchant West (Pty) Ltd and its directors, officers and employees shall not be responsible and disclaims all liability for any loss, damage (whether direct, indirect, special or consequential) and/or expense of any nature whatsoever, which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of, or reliance upon any information, links or service provided through this website or any other form of publication.

Finance is available to businesses within the Republic of South Africa. Terms and conditions apply.