Did you know? 

You are legally allowed to take R11m out of South Africa on an annual basis? The first R1m you can take out of the country by making use of your annual travel allowance. The additional R10m you can take out of the country by applying to the South African Reserve Bank for the necessary clearance. Once the funds are invested outside of South Africa it does not ever have to come back into South Africa and proceeds from the investment can also be paid out anywhere in the world. 

As simple as 123

Opening an offshore investment account is almost as simple as opening a local South African investment account. The only additional step to an offshore investment compared to a local investment is converting the funds to the foreign currency of your choice (US Dollar, Pound Sterling or Euro). Some of the investment administrators/platforms would convert the Rands on your behalf. If not, there are many third-party currency exchange service providers who can assist with the conversion from Rands to the foreign currency.

How to invest offshore

• Identify the amount to be invested offshore - you don’t have to invest a fortune, you can start an offshore investment with as little as R 20 000.

• Select your preferred investment administrator or platform

• Convert your Rands to the foreign currency of your choice

  • Either through your bank; or

  • A third-party service provider; or

  • The investment platform

• Complete an offshore application form

• Select a suitable investment portfolio (this is our forte) 

• Pay the funds to the administrator/platform

• Enjoy (what else?)

Would you like to find out more?