The maximum amount of money that residents are allowed to transfer out of the RSA for personal or investment purposes is R11 million per calendar year. This amount is divided as follows:
Single Discretionary Allowance (SDA): The maximum limit is R1 million per calendar year, and there is no need for special permission from SARS to utilise it.
Approval of International Transfers (AIT): The maximum limit is R10 million. Utilising your AIT requires special permission from SARS.
To obtain permission to utilise your AIT, you must submit an application with the South African Revenue Service (SARS). This process results in the issuance of a Tax Compliance Certificate (TCC or TCC pin) from SARS for the applied amount. An approved TCC pin can then be used to send additional funds offshore as part of your AIT. Once you have utilised the amount allocated by the TCC pin, you will need to obtain another approved TCC in order to send more funds offshore. This process of applying for TCC pins, obtaining approval, and utilising them can be repeated until you have utilised your full R10 million AIT for the year. Our specialist in-house accountants and partners handle this application process.
It is important to note that you do not need to have R11 million in order to utilise your SDA and AIT allowances. Your trading capital is repatriated after each trade you perform, which means that the same funds (e.g., R250k) can be utilised until you have exhausted your full allowances.