Get Rands Out

Here’s how you save on transfers over R150,000 out of SA:


Open an account:


    Full Name (As shown on SA ID)

    Your Email

    SA ID Number

    Country to which funds will be transferred

    Do you have a bank (in your name) open in this country?


    Amount (in Rands) you intend to transfer this calendar year

    Got questions? We have answers.

    The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services (FAIS) Act of 2002.

    Got questions? We have answers.

    The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services (FAIS) Act of 2002.

    Why not just make a normal international bank transfer?

    • Bank-beating forex rates
      • Our large currency turnover enables us to pass considerable savings on to you.
    • Bank-beating service
      • Digital account opening and deal execution, which means no bank visits and no manual paperwork.
    • Trusted advice
      • Valued insight into many of the complicated financial aspects that come into play when moving overseas.

    How secure is my transfer?

    • When MyGlobalCFO facilitates a forex transfer for you – your money remains your money. We’ll set you up a secure forex account in your name, and funds remain in your name from start to end.
    • We are a registered Financial Services Provider FSCA 49859, we are authorised by the South African Reserve Bank, and we a member of South African Association of Treasury Advisers.

    How long does a forex transfer take?

    Once your forex account is funded and your deal executed, funds hit your offshore account within 2 business days.

    How can MyGlobalCFO help me before I emigrate?

    • There are a number of financial aspects involved in an emigration, and there isn’t a one size fits all approach because everyone’s circumstances are different.
    • We’re here well before you move to help you obtain the best financial outcome. Our client relationships tend to last many years because we remain your one point of contact before and after you move. A premium service all while saving money versus normal swift transfer.
    • If you’re moving to Australia, we work in tandem with a number of MARA registered migration agents to manage the financial aspects of the move alongside the visa process. Leverage off our forex, exchange control and investment expertise – to pay migration agent fees, set up and transfer funds into your Australian bank account, redeem South African Retirement policies, or invest in Australia to prepare for a property acquisition or retirement.

    Will I be impacted by Exchange Control regulations?

    • Although the requirements have been relaxed in recent years, transfers out of South Africa are still subject to Exchange Control regulations.
    • There are two main exchange control allowances for individuals, and we’ll help you plan best use of these.
    • The first is the R1 million discretionary allowance – this does not require SARS tax clearance. It is valid from 1 January to 31 December every year for South African residents over the age of 18.
    • The second is the R10 million foreign investment allowance – this is intended for South Africans investing offshore, and requires SARS tax clearance (more on that below).

    Do I need to tax clearance?

    • Not necessarily – it depends on how much you intend to transfer.
    • SA residents over the age of 18 can utilize their discretionary allowance which permits individuals to move up to R1 million per calendar year without tax clearance.
    • If you’re looking to move more than that, you can utilise your foreign investment allowance. This allows SA registered taxpayers to move up to R10 million per calendar year. We will assist you with the tax clearance application which will substantiate the source of funds that you are transferring.

    How long does tax clearance take

    • SARS typically takes 3-5 business days to process a foreign investment tax clearance application.
    • Once approved, clearance lasts for 12 months from date of issue. We don’t necessarily need to execute your transfer straight away or move the full amount in one go if you would prefer to hedge your currency exposure.

    What if I don’t live in South Africa anymore, and don’t have a South African bank account

    If you no longer have a South African bank account, we can still set you up with a forex account. Living in South Africa is not a pre-requisite for opening an account, and nor is a South African proof of address.