Transfer Rands Overseas

How It Works

We assist South Africans globally to access their cash in South Africa by utilizing their annual allowances.

R10m

Private individuals may invest R10 million per annum outside of South Africa or R20 million per family unit can be invested outside of South Africa per annum. These funds can be invested into offshore investment portfolios or be used for any legal reason, eg. Property or any other investment vehicles. R10,000,000 per adult – a SARS Tax Clearance is required (we can also assist you with obtaining a SARS tax clearance for FREE within 5 days).

R1m

Private individuals may now utilise their R1m discretionary allowance, without obtaining a SARS Tax Clearance Certificate. This R1m forms part of the annual Discretionary Allowance which includes travel, gifts and maintenance allowance.

Travel Allowance

Private individuals are allowed to utilise their annual travel allowance per calendar year

A – R1,000,000 per adult

B – R200,000 per child (under the age of 18)

Funds are to be transferred into an overseas bank account, in the name of the traveller

Gift Allowance

The gift allowance can be utilised to transfer amounts up to R1, 000, 000, overseas as a gift. Any amounts over R100, 000, are taxable at 20%

All amounts under R100, 000, will have no tax implications for the person gifting the money

Gifts can only be paid from a South African resident to a third part currently living overseas (who can either be a non-resident or a South African resident temporarily abroad)

The transfer process usually takes between 2 – 3 business days. Rand Rescue will handle the process every step of the way, and transfer to any bank account globally.

We will ReUnite you with your rands!