November 8

Transferring Inheritance Funds Offshore

0  comments

Transferring Inheritance Funds Offshore

Transferring Money out of South Africa!!

Are you Transferring Inheritance Funds Offshore?

Are you a South African living overseas and expecting an inheritance from a South African estate?

Here’s what you need to know.

All South African citizens over the age of 18 have two allowances for transferring funds abroad per calendar year: 

•A R1 million single discretionary allowance (SDA) (which does not require tax clearance).

•R10 million foreign investment allowance (FIA) (which requires tax clearance).

These allowances are often used for transferring an inheritance, house sale, savings, pension payouts, etc, out of South Africa.

You will need to have a South African ID book or ID card and a South African tax number for the FIA (Foreign investment allowance).

If you would like more information on transferring your inheritance funds abroad please contact us to discuss your circumstances at admin@wbforex.com – with dedicated account managers in the UK and SA.

WhiteBirch Group

admin@wbforex.com.

Head Office UK: +44 (0) 207 018 8552

Trading desk in Hartley Wintney (UK) & Pretoria (SA)

WhatsApp: +44 (0) 790 893 3594

Transfer money from South Africa.
Transferring Money from SA: R1 Million Allowance

https://www.linkedin.com/company/wbforex

Loved this? Spread the word


Related posts

Transfer Funds Safely & Securely out of South Africa

Transferring funds out of SA does not have to be complex. Here you will find an simplified and friendly solution to transferring funds abroad whilst giving you the security of bank to bank service at bank beating rates.