EXCHANGE CONTROL2018-11-22T14:26:04+00:00

Emigration for exchange control purposes requires a formal application to be made to the Financial Surveillance Department of the South African Reserve Bank, which will disclose all local assets of the emigrant at the date of departure.  All emigration applications require a completed Form MP 336(b) and a specific emigration tax clearance certificate from the South African Revenue Service before any funds or income can exit South Africa.

Assets left in South Africa will be under the control of an Authorised Dealer with specific exchange control regulations to be adhered to.

Post emigration most types of income due to emigrants would be transferable abroad, subject to certain conditions and documentary requirements.  Specific and complex rules apply to trust distributions.