I WANT TO INVEST
I Want To Invest R1 Million or Less
Any South African adult can legally transfer up to R 1 million out of the country from 1 January – 31 December as a discretionary allowance. You may use this money for legal purposes abroad, including travel, study or investments. It only requires a valid South African identity document and income tax number obtained from SARS.
Single Discretionary Allowance Explained
Single discretionary allowance may be used for any legal purpose abroad (including investment). It may be utilised solely at the discretion of the resident, without a requirement for the resident to produce documentary evidence relating to the funds they wish to transfer to the Authorised Dealer, except for travel outside the Common Monetary Area (eSwatini, Lesotho, Namibia and South Africa).
Get in touch with us if you need assistance with the handling of your discretionary allowance.