What It Is:
Individual Offshore Allowances provide you with a mechanism to transfer your funds offshore in order to invest in various offshore portfolios. These include investments, property and bank accounts, handled as follows:
- A single Discretionary Allowance of R1 million per calendar year; or
- A Foreign Investment Allowance of R10 million per calendar year, which is applicable to private individual tax payers over the age of 18 years (a Tax Clearance Certificate from SARS, which is valid for 12 months, is required for this allowance).
- The market may move contrary to one’s view or expectations.
Business Value Add
- We facilitate the transaction on your behalf.
- You do not need to open another bank account to transact with us.
- We can achieve favourable exchange rates.
- We can assist with the necessary administration and monitoring of your transfer.