PSG Foreign Exchange
We provide clients with competitive rates and ease of transacting when transferring or repatriating funds offshore.
Offshore allowance (Individuals)
The following allowance options are available in order to move funds overseas:
- R1 million single discretionary allowance, which currently does not require South African Reserve Bank tax clearance.
- R4 million offshore allowance, which requires you to apply for South African Reserve Bank tax clearance.
Offshore asset swop
The PSG Offshore asset swop account permits a range of entities, for example individuals, trusts, companies, partnerships and joint account holders to invest offshore without making use of their foreign allowance.
The benefit of this offshore account is that account holders do not require South African Reserve Bank approval as PSG's institutional asset swop facility and not a personal allowance is used. This account empowers you to invest offshore without the SARB administrative requirements normally required for offshore investments.
Click here to view the documents required for offshore investments.
For more information of assistance please contact the PSG Online Offshore team at 011 996 5200 or via e-mail firstname.lastname@example.org.