If you have spent some time on this site, you will probably have read by now that South Africa uses a system of exchange control regulations to monitor and govern exchange transactions in the country. In other words, you cannot simply move money out of or into the country. There are procedures to be followed.
This section of the site is devoted to the various ways in which money can be moved out of the country. The amount that may be transferred out is known as an “allowance”, and there is a system of regulations according to which the permitted amount is calculated. The permitted methods of outward transfer are as follows:
In addition to these allowances, the section also contains information relating specifically to the situations of immigrants and emigrants, and in the case of the latter, how to ease the outward transfer of so-called “blocked rands”. There is also a page on the repatriation of funds, which can be tricky if due procedure was not followed when the money was brought into the country.
Have a look at the pages, and see if you can find what you’re looking for. If you can’t, do not hesitate to contact us, and we will be glad to assist.
Money Transfers to and from South Africa - here's how:
- Foreign exchange regulations in South Africa 03-01-2011
- Essential money transfer advice for all transactions 02-01-2011
- Exchange control relaxed in South Africa 28-10-2010