Page 43 - Profmark Tax Guide 2025 Digital

EXCHANGE CONTROL: RESIDENTS

Foreign capital investments
Resident individuals who are over 18 and taxpayers in good standing are
permitted to invest abroad subject to an AIT Tax Clearance� The current limit is
R10 000 000 per person per calendar year� Applications by individuals to invest
in fixed property and other investments will also be considered in addition to the
foreign capital allowance�
Single discretionary allowance
(in addition to foreign capital allowance)
Residents over the age of 18 years may be permitted a single allowance within
an overall limit of R1 000 000 per individual per calendar year, with a normal
Good Standing Tax Clearance Certificate� Minors are entitled to an annual
allowance of R200 000� The 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 to be
transferred to the Authorised Dealer, except for travel outside the Common
Monetary Area (eSwatini, Lesotho, Namibia and South Africa)� If the allowance is
used for travel, a passenger ticket needs to be produced�
Study allowances
The direct costs of study may be transferred directly to the institution� Should a
spouse accompany a student, a discretionary allowance may be accorded to the
spouse� Household and personal effects, including jewellery (but excluding motor
vehicles), up to a value of R200 000 per student may be exported�

Emigration limits
Foreign Capital Allowance (reduced by foreign capital investments)
Single Person – R10 000 000 Family Unit – R20 000 000
Household & Personal Effects, Motor Vehicles, Stamps, Coins & Kruger Rands
R2 million can be transferred�
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