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Exchange controls 101: How to get your money out of South Africa to invest

by , 11 August 2015

If you want to invest offshore, one of the first things you need to consider is exchange controls.

Before you can invest in any opportunities offshore, you need to sort out taking your cash out of SA.

So what's involved? It depends on how much you want to take out.

Let's take a closer look…


Exchange controls in South Africa


Exchange controls in SA mean you need to sort this side of things out when investing offshore.

If you want to take up to R1 million out of the country, you can do this quite easily through your bank when transferring the cash. You’ll have to complete some forms regarding the transaction, but it’s quite straightforward.

If you want to take over R1 million out of the country, you need to apply to SARS to do this. This route means you can take up to R5 million out of SA. You need to apply for a clearance certificate from SARS and this can take a few weeks to complete.


How to invest offshore


Once you’ve decided how much money you want to take out of SA and whether or not you need to apply directly to SARS, you can decide what you’re going to do with your cash offshore.

You may consider investing in different shares and exchange traded funds listed on the world’s stock markets. Do to this, you’ll need to open an international account for investing.

You may consider investing in different funds. In this case, you’ll may have to deposit funds directly into the fund manager’s account.

Or you may decide to keep some of your rands in another foreign currency. This can hedge you against currency fluctuations. Many of the big banks in SA offer you the facility by opening a foreign exchange account.

So there you have it. How to get your money out of South Africa to invest.

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Exchange controls 101: How to get your money out of South Africa to invest
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