Foreign exchange for purposes of the 'cash allowance' may be made available without the requirement of a Tax Clearance Certificate.

Residents (natural persons) may be permitted to avail of a single allowance within an overall limit of R500 000 per adult (over 18 years of age) and R160 000 for under 18’s.

This may be apportioned as follows:

• monetary gifts and loans

• donations to missionaries

• maintenance transfers

• travel allowances

This is not designed to prohibit or limit the payments per se, but rather ensure the foreign exchange is used for the purpose stated and not for capital transfers (i.e. foreign capital allowance).

Each of the apportioned titles have further sub-requirements that need to be met/adhered to and accumulate towards the overall limit of R500 000 (or R160 000) as mentioned above.

Foreign capital allowance

This allowance accounts for the bulk of the amounts transferred upon emigration and is split into two categories depending on whether it is for a single person or family unit. Single persons may expatriate up to R2-million whilst a family unit may take a maximum of R4-million.

Any amount above these limits will be deemed as 'blocked assets' which may, upon request, be transferred at an exit charge of 10 percent of the amount.

For emigrants who have not fully utilised their allowance, they may be accorded additional capital transfers up to the current limits.

For widows/widowers with dependants, the 'family unit' allowance will apply.

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