| Amount in a calendar year | Allowance used | SARS approval | SARB approval |
|---|---|---|---|
| Up to R2,000,000 | Single discretionary allowance | None | None |
| R2,000,001 to R12,000,000 | Foreign investment allowance | AIT TCS PIN required | None |
| Above R12,000,000 | Special allowance | AIT TCS PIN required | FinSurv approval |
| Non-resident, SA source funds | Not an allowance | AIT TCS PIN required | Case by case |
| Step | What happens | Typical time |
|---|---|---|
| Apply on eFiling | TCR01 form under Tax Status, Approval International Transfer | Same day |
| Submit supporting documents | Source of funds and asset statements | Same day |
| SARS assessment | Compliance and source of funds checked | Up to 5 business days if straightforward |
| TCS PIN issued | A PIN valid for one year | On approval |
| Bank verifies the PIN | The authorised dealer checks it with SARS directly | Same day |
| Funds released | The transfer is processed | 1 to 3 business days |
| Document | Why |
|---|---|
| Statement of assets and liabilities, three years | At cost, local and foreign |
| Source of the funds | Sale agreement, payslips, statements, inheritance documents |
| Proof of tax residency status | Resident or ceased, which changes the route |
| Outstanding returns filed | No PIN is issued while returns are outstanding |
| Bank details for the transfer | The receiving account abroad |
Data maintained by TradeAnswers · updated as the figures change