Exchange Control South Africa
Transferring money out of South Africa can be a complex area with considerations such as the appropriate tax clearances, exchange control regulations, rates and methodology.
Often unsure of what the correct processes and legislation are people simply turn to their banks, this can result in unnecessary fees and poor exchange rates. (more…)
First the good news: Once you have declared all your taxes on the other side, you can freely transfer your money over to South Africa, without any additional taxes waiting for you.
Before transferring money to South Africa, you should be aware of the exchange control regulations in South Africa. (more…)
Most people in South Africa will be aware of exchange control regulations, although many are not always sure exactly what impact these have on them or what their options are in terms of dealing with them.
Most people new to South Africa will have heard rumours that it is hard to move money in and out of South Africa, and will definitely have heard horror stories of how once you have brought money into South Africa it is virtually impossible to get it out again and therefore most are too frightened to bring any money into the country in the first place. (more…)