As a non-resident of South Africa, there are special rules that apply to you when transferring funds in or out of South Africa. Charter Forex can make this process as easy as possible for you by ensuring that you have all the appropriate documentation in place, and comply with the South African Reserve Bank rules and regulations.
Repatriation Transactions
If you are a non-resident and you are:
- considering buying a property in South Africa;
- selling your property in South Africa and wish to repatriate the funds back to your home country;
Charter Forex can help you meet all the regulatory requirements, as well as offering you bank-beating exchange rates and no administration fees for transactions over R250,000.
As a non-resident, you are able to invest in South Africa, however due to the strict exchange controls, the way in which you bring your money into South Africa can have implications should you wish to repatriate the funds offshore in the future. Charter Forex has many years of experience with the documentation and processes required to satisfy the Reserve Bank, and their foreign exchange experts can assist you every step of the way.
Estate Late Payments to Non Residents
Charter Forex can facilitate the transfer of beneficiary payments in foreign currency from Estate Late accounts to the Non Resident’s beneficiary account offshore, including payments to South African residents who have formally emigrated.
Estate Late payments to offshore accounts are subject to enhanced documentation requirements, as well as requiring approval from Exchange control. Charter Forex can assist you with navigating the documentation requirements as well as ensuring you get the most Dollars, Pounds, Euros or Pesos for your Rands.
Swallows & Nomads
Dave & Sue first visited South Africa in 2009 after they retired, and they fell in love with the town of Hermanus. For a couple of years they visited every summer (to escape the winter in the UK) and eventually they decided they wanted a place of their own, so they bought an apartment.
Charter Forex was able to help them with the process of bringing the funds in correctly, and also to get them a much better exchange rate than their high street bank in the UK.