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Moving your assets and funds offshorewhat are the options? - Investec

Moving your assets and funds offshorewhat are the options? - Investec 2025

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The document provides a comprehensive guide for South African citizens on how to invest offshore using their foreign investment allowance of up to R5 million per year. It outlines a four-step process involving choosing the right fund, applying for tax clearance from SARS, transferring funds through a bank, and submitting documentation to Coronation Client Service. Additionally, it includes frequently asked questions addressing eligibility, tax implications, and procedures related to offshore investments.

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Is it legal to move money offshore?

Offshore banking isnt illegal, but having an offshore account can raise questions because these accounts have a history of allowing customers to discreetly store money to avoid paying taxes on it or hide funds obtained through illegal activity. What Is Offshore Banking? - NerdWallet nerdwallet.com article what-is-offshore- nerdwallet.com article what-is-offshore-

What is an asset swap fund?

An asset swap is a derivative contract between two parties that swap fixed and floating assets. In an asset swap, an investor will pay a fixed rate to the bank and receive a floating rate in return. Asset swaps serve to hedge against different risks on the reference asset.

How much money can I transfer without being flagged?

$10,000 Because of the Bank Secrecy Act, all banks and other financial institutions must file a Currency Transaction Report (CTR) for any wire transfer over $10,000. The CTR includes the following information: The name and account number of the person or party initiating the transfer. Heres What Happens if You Wire Someone a Lot of Money fool.com the-ascent banks articles he fool.com the-ascent banks articles he

What is the advantage of having a direct offshore investment for a client?

Offshore investing is beyond the means of many but the wealthiest of investors. Advantages include tax benefits, asset protection, privacy, and a broader range of investments.

What is foreign investment allowance?

Every South African is granted a one million Rand cash transfer as a Foreign Investment Allowance (FIA) per annum from South Africa abroad, for any legal purpose. No tax clearance certificate is required.

What is the single discretionary allowance for Investec?

Every South African has a single discretionary allowance (SDA) of up to R1m, which can be sent offshore, per calendar year (January to December). No tax clearance certificate is necessary when externalising funds via your SDA. It is as simple as instructing your bank to send the funds abroad.

What is the foreign investment allowance for Investec?

Remittance of capital-related funds Capital remittances are subject to exchange control allowances, namely a R1 million travel allowance in the same calendar year that an individual ceases to be tax resident, or a R10 million annual allowance per individual over 18 years.

How much money can I move offshore?

To send more than R1 million offshore, youre going to need AIT (Approval for International Transfer) from SARS. This certificate is valid for 12 months and it allows you to transfer up to R10 million.

Moving your assets and funds offshorewhat are the options? - Investec 2025

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