| Transaction | Approved by |
|---|---|
| Up to R2 million, single discretionary allowance | The bank, no approval needed |
| R2 million to R12 million, foreign investment | The bank, with a SARS AIT PIN |
| Above R12 million | FinSurv, on application |
| Loans to or from a non-resident | FinSurv |
| Offshore structures and intellectual property transfers | FinSurv |
| Routine trade payments | The bank, under delegated authority |
| Item | Detail |
|---|---|
| Who they are | Banks licensed to deal in foreign exchange |
| Delegated authority | They approve what the Currency and Exchanges Manual permits |
| Reporting | Every cross-border transaction is reported under BOPCUS |
| Documentation | They must hold proof of the purpose of each payment |
| Limited dealers | Some non-banks hold a restricted licence |
| Step | Detail |
|---|---|
| Route | Through your authorised dealer, not directly |
| Information required | Purpose, amount, parties, supporting agreements |
| Typical time | Several weeks, longer for complex structures |
| Outcome | Approval, conditional approval or refusal |
| Validity | Approvals are usually time limited |
Data maintained by TradeAnswers · updated as the figures change