Externalising funds offshore – individuals: Three guidelines to consider
With reference to the South African Reserve Bank’s website, exchange controls aim to, amongst others, prevent the loss of foreign currency resources through the transfer abroad of real or financial capital assets held in South Africa. Exchange control regulations are applied within the Common Monetary Area (“CMA”) consisting of South Africa, Namibia, Lesotho and eSwatini […]
New exchange control circulars
Following the Budget Speech in February 2022, and the relaxation of loop structures in January 2021, a number of Exchange Control circulars were subsequently issued by the South African Reserve Bank (SARB). The circulars included the following relaxations: The transfer of dual‐listed domestic securities from the local exchange to a recognised offshore exchange in […]