South African citizens are allowed R1 million as SDA (Single Discretionary Allowance) and a further R10 million as FIA (Foreign Investment Allowance) per calendar year. An SDA is immediately available to any tax compliant citizen but one must apply for a Tax Compliance Status (TCS) pin in order to make use of an annual FIA.
Requirements to apply:
- Must be South African Citizen
- Not financially emigrated
- E-filing Login Details
- List of your assets and liabilities (3 years)
- Three Months Bank-Stamped Statements
- Copy of your ID
For more information, we recommend reading over these two pages from SARS.gov.za:
If you still have questions please contact us.