If you want to move more than R1 Million out of South Africa for investment purposes, then the Foreign Investment Allowance, which allows up to R10 Million, is exactly what you need. This allowance is available annually, so you can transfer up to R10 Million Rand every calendar year.

• Are an individual;
• Are 18 years or older;
• Are a tax-payer in good standing; and
• Want to transfer to offshore bank accounts, invest in offshore properties, or other investments.

For this allowance, you will need a tax clearance certificate issued by SARS.

• Better Foreign Exchange Rates – We keep a close eye on Forex trends and know when the market is optimal for the best possible Forex rates;
• Quicker Turnaround Time On Transferring The Funds – Have the money when you need it and not weeks later; and
• Lower Fees – Gapex offers competitive fees. We know and respect that you sign up with us because you want to work intelligently with your mind and that is why we will not charge you more than is needed.

When you apply for a Tax Compliance Status (TCS) in respect of the Foreign Investment Allowance, you will need to submit the following:

• Material that shows the source of the capital to be invested;
• A statement of assets and liabilities for the previous three tax years (this should include disclosure of all investments, loan accounts, and distributions from local and foreign companies, trusts, etc.); and
• Applicable Power of Attorney if done through Gapex.

If you want to minimise your paperwork and entrust this allowance to the team that specialises in financial decisions, then contact Grant for a meeting. Use the form on our Contact Us page to get in touch and find out how much we can save you with our R10 Million Foreign Investment Allowance service.