South Africans investing, studying or managing assets internationally often encounter exchange-control requirements. Understanding the distinction between the various allowances matters because transferring money offshore isn't simply a matter of sending any amount through a bank without documentation.
Source: SARS — Budget 2026 Frequently Asked Questions
Frequently Asked Questions
Is the R2 million allowance per person?
Yes, SARS describes it as a resident individual's annual allowance.
Does R2 million mean there are no banking requirements?
No — banks can still require documentation and must comply with applicable financial regulations.
Is the R10 million allowance the same as the R2 million allowance?
No — SARS identifies the R10 million investment allowance separately, and it requires a TCS PIN.