Of course you want to avoid red tape wherever possible. We can help. Our specialised services are geared up to meet your unique foreign currency requirements conveniently and efficiently.
Our services cover:
Leaving a country for good is stressful. If you’re planning to emigrate you’ll want things to go as smoothly as possible. As an authorised currency dealer we are perfectly placed to help you transfer funds and meet legislative requirements.
To start, you’ll need to complete a MP 336(b) form. This details the nature and value of your assets in South Africa and any liabilities that will be outstanding in South Africa after you leave.
All your family’s assets must then be listed on the MP336(b) form, which should be signed by the head of the family.
When we have checked your completed documents of title and everything is in order, Investec Financial Surveillance will hand a certified copy of the MP336(b) to you or your private banker in order to obtain tax clearance.
You’ll also need written confirmation from the South African Revenue Service (SARS) stating that your tax commitments have been met or that arrangements have been made to liquidate any obligations in this regard. This must be attached to the MP336(b) form or sent to the South African Reserve Bank (SARB) in due course.
You can, on application, request to transfer remaining assets exceeding the limit of R8 million per family, or R4 million per single person. This is subject to an exiting levy of 10% and at the discretion of the SARB’s Financial Surveillance department.
After you have completed the emigration requirements, your remaining South African assets must be brought under Investec’s physical control. This is to ensure that all capital accruing after the date of emigration and the proceeds of any asset subsequently sold, are credited to a blocked account with Investec.
Making travel arrangements can be time consuming. Rely on us to arrange your foreign currency quickly and easily. We make the process smooth and efficient because we offer you:
As soon as you’ve made your travel plans, contact Private Bank Foreign Exchange on (2711) 290 8842
Any growing organisation needs the ability to do business internationally. The Omnibus facility gives your business the ability to buy more foreign currency than the prescribed personal limit.
In other words, if you need more than R10 million we will apply to the SARB on your behalf. We can also give you a statement detailing your foreign exchange expenditure.
* Terms and conditions apply.
Do you have South African rands in a foreign bank account? And want to bring those funds back to South Africa? We make it simple. Just follow the steps below:
When transferring your ZAR to Investec's ZAR correspondent bank account, please ensure that:
You’ll also need to supply the following information:
Once your rands have arrived in Investec’s ZAR correspondent bank account, you will need to complete a BoP form. These forms are required for each transaction and must be as detailed as possible.
Make sure you select a BoP code that relates to the source of the funds and not their intended use in South Africa.
You’ll then need to fax the completed form to BoP Reporting on +2711 291 1532 or email it to bopreporting@investec.co.za
Your BoP form must be submitted before funds can be allocated. You’ll have two working days in which to complete the form and return it to BoP Reporting so that the funds can be allocated.
If a BoP form has not been received within two working days, funds will be returned to sender, as per South African Reserve Bank requirements.
The allocation cut-off time each day is 15:30 (South African time) for same day allocations.
BoP forms received after 15:30 (South African time) will be attended to the following working day and the ZAR allocation will be backdated.
A fee will be charged for all foreign transactions (0.5%: minimum R225, maximum R400, excluding VAT).
Telephone:
+2711 290 8842 (option 1)
