Residents may transfer R2 million annually for legal uses abroad
Residents aged 18 and older have a R2 million annual discretionary allowance under the South African Reserve Bank (SARB) dealer manual. Published on October 13, 2026, the manual is dated October 8, 2026.
Different routes to offshore exposure
The single discretionary allowance covers legal purposes abroad, including investments and gifts.
Eligible resident taxpayers aged 18 and older also have a R10 million annual foreign capital allowance, subject to South African Revenue Service (SARS) tax compliance verification.
Authorised Dealers may approve qualifying corporate foreign direct and portfolio investments up to R5 billion per company per calendar year; larger requests require Financial Surveillance Department approval.
Institutional investors face a foreign exposure limit of 45 percent of retail assets under management.
Eligible domestic Authorised Dealers have a macro-prudential limit of 25 percent of liabilities excluding shareholder equity, plus an additional 5 percent for expansion into Africa.
Import advances carry verification duties
Capital-goods import advances may cover 100 percent of ex-factory cost when the total value does not exceed R10 million; above that threshold, the limit is 50 percent.
For advance payments exceeding R100,000, dealers must obtain the prescribed customs declaration within four months.
Importers must report goods not consigned within that period within a further 14 days.
The imports undertaking dispensation requires at least 120 annual import transactions, turnover exceeding R20 million and three years of import activity.
Permission remains conditional
Dealers may transact without referring to the Financial Surveillance Department only where the manual permits the transaction.
Uncertain requests must go through the dealer's head office to the department.
Documentary records must be retained for five years, and reporting does not replace compliance.