Offshore Allowance

Merchant West Capital Markets offers South African residents the opportunity to transfer funds by utilising their Offshore Allowance.

How it works

South African residents who are 18 years and older are permitted to avail of a single discretionary allowance within an overall limit of R1m per individual per calendar year. This dispensation may be utilised at the discretion of you, the individual without any Tax Clearance Certificate.

Process

  • Apply Online - APPLY BELOW and choose R1m offshore allowance
  • Complete form with yourself as the Applicant and your beneficiary bank account details where you want the money be transferred to
  • Click Submit
  • Merchant West Capital Markets will then email you all the required paperwork pre-completed for your signature only
  • You would be required to send through all ORIGINAL signed paperwork and original certified copies of your South African ID Book or Smart ID card and Proof of Residence
  • Once we receive all paperwork, we will be able to fix an exchange rate and send the money overseas to your nominated beneficiary bank account

How it works

South African residents who are 18 years and older are permitted to transfer up to R10m per annum for investment purposes. This dispensation may be utilised at the discretion of you, the individual without any documentary evidence.

Process

  • Apply Online - APPLY BELOW and choose R10m offshore allowance
  • Complete Form with yourself as the Applicant and your beneficiary bank account details where you want the money be transferred to
  • Click Submit
  • Merchant West Capital Markets will then email you all the required paperwork pre-completed for your signature only
  • You would be required to send through all ORIGINAL signed paperwork and original certified copies of your South African ID Book or Smart ID card and Proof of Residence
  • Once we receive all paperwork as above we will be able to fix an exchange rate and send the money overseas to your nominated beneficiary bank account
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