3.13. Export of goods (South African Resident Individuals)

3.13.1 Individuals exporting goods must comply with the following conditions:

  • (a) complete a SARS Customs Declaration;
  • (b) sell goods exported within a reasonable time, but no later than six months from the date of shipment;
  • (c) receive the full foreign currency proceeds in South Africa not later than six months from the date of shipment;
  • (d) receive payment in foreign currency or Rand from a Rand from a Non-resident Rand account in the name of the non-resident and/or Rand from a vostro account held in the books of the Authorised Dealer;
  • (e) offer for sale to an Authorised Dealer the full foreign currency proceeds within 30 days after becoming entitled thereto; and
  • (f) report in writing to an Authorised Dealer the non-receipt of the full foreign currency proceeds, within the prescribed period, as well as the failure to sell the goods exported within six months from the date of shipment.

3.13.2 All motor vehicles exported for sale abroad must have an export permit issued in terms of the International Trade Administration Act, 2002 (Act No. 71 of 2002).

In respect of the temporary export of motor vehicles to all countries outside the CMA, residents must complete the prescribed SARS Customs Declaration and such vehicle must be returned to South Africa within a period of six months.

3.13.3 All temporary exports of items or goods such as personal effects and jewellery to countries outside the CMA, for which no payment is to be received in South Africa, must where required, be supported by the prescribed SARS Customs Declaration. These goods or replacement items must be returned to South Africa within a period of six months.

Should the insurance value of the above-mentioned goods taken by the traveller exceed R200,000, the prior written approval of the Financial Surveillance Department must be obtained.

Requests to export any items or goods, with an insurance value in excess of R50,000, for which no payment will be received and where the items exported will not be returned to South Africa, must be referred to the Financial Surveillance Department.

3.13.4 Residents who wish to hedge their exchange rate or currency risk must approach their Authorised Dealer in this regard.

Scroll to Top