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Exchange Control Circular No. 40/2010
Circular Reference: Exchange Control Circular No. 40/2010
Circular Date: 5 November 2010
Circular Status: Withdrawn (refer to Exchange Control Circular No. 1/2011)
Foreign capital allowance – private individuals (natural persons) resident in the Republic
Authorised Dealers are referred to Section B.2(B)(i)(a) of the Exchange Control Rulings and advised that the once off limit of Rand 4 million has been replaced with an annual limit of Rand 4 million.
The Financial Surveillance Department will also, in addition to the current SADC fixed property dispensation consider applications by private individuals for investment purposes, including offshore properties, outside of SADC, in excess of the foreign capital allowance limit of Rand 4 million per annum.
A replacement page of the Exchange Control Rulings incorporating the relevant amendments is attached hereto.
Head of Department