In addition to the single annual discretionary allowance of R1 000 000, South African residents are entitled to a once off individual foreign currency transfer of a maximum of R4 000 000 for investment purposes.

The limit for family groups is R8 000 000.

There are two options on how you can invest these funds:

1. Open a Bidvest Bank FCA and invest your money locally in the foreign currency of your choice. FCA's are available in US Dollars, Great British Pound, Euros or Australian Dollars. The funds invested earn interest in the specified foreign currency but it remains a South African-held and operated account. To open a FCA, the minimum deposit required is R25 000 and the maximum deposit is R4 000 000.
   
   
2. Invest the money in an overseas financial institution. In this case, Bidvest Bank assists you in transferring your funds to the overseas bank or investment firm via Telegraphic Transfers or Drafts.

To qualify to transfer your R4 000 000 investment allowance per annum you are required to supply Bidvest Bank with the following documentation:

• A copy of your green bar coded ID book confirming you are above the age of 18
• A SARS tax clearance certificate for Investment purposes – note, to be awarded this certificate, you will need to submit a copy of the Application for a Tax Clearance Certificate(In respect of foreign investment allowance for individuals) directly to SARS. This application document can be found in the Essentials and Tools section on this page.
• A completed copy of the South African Reserve Bank  investment allowance control sheet. This application document can be found in the Essentials and Tools section on this page.