MONEY WITHOUT BORDERS

OFFSHORE INVESTMENT

ALLOWANCES

The Discretionary and Foreign Investment Allowance is available to individuals each year.

Offshore investment over and above these limits is possible but requires SARB approval. We can assist with obtaining SARB approval.

OFFSHORE ACCOUNTS

We can assist with opening offshore bank accounts. Please contact us for more information

Discretionary Allowance

Individuals may move up to R1m per annum out of South Africa under current exchange control regulations, without the need for SARS Tax Clearance.

Foreign Investment Allowance

Individuals may invest up to R10m per annum into offshore accounts, property or other investments. This allowance requires SARS Tax Clearance. We offer assistance with obtaining the SARS clearance.

How Does It Work?

Our dealing room has booked thousands of trades. We are here to make international transfers easier - here is how it works

  • Preliminary

    • Applicant completes secure online New Client form
    • E-mail FICA documents to [email protected]

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    Preparation

    • RandTangle verifies information
    • RandTangle prepares documents for signature
    • Required supporting documentation list sent to Applicant
    • Send documents to applicant for electronic signature

  • Collection

    • Applicant collects required supporting documentation
    • Applicant signs necessary documents, if required, e.g. Tax Special Power of Attorney (POA) for tax clearance
    • Documents sent to RandTangle

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    Approval

    • RandTangle opens an account with our Authorised Dealer (Bank) in Applicant name
    • RandTangle sends confirmation of account opening to Applicant
    • RandTangle arranges for tax clearance, if necessary

  • Funding

    • Applicant arranges to fund account
    • Applicant confirms beneficiary bank details and transfer details, e.g. currency

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    Transfer

    • RandTangle contacts Applicant to confirm trade and executes transfer
    • RandTangle sends trade confirmation to Applicant
    • RandTangle completes cross-border reporting requirements