What this page covers
A South African resident may move money offshore under two annual allowances. The first needs nothing but an ID; the second needs tax clearance. Together they set the ceiling on how much you can fund an offshore broker with in a calendar year.
★ What changed this year
The single discretionary allowance doubled from R1 million to R2 million in 2026, the first change to it since 2015. The foreign investment allowance was left at R10 million. A couple can now move R24 million offshore in a calendar year using both allowances, against R22 million before.
| Allowance | Annual limit | Who qualifies | Clearance needed |
|---|---|---|---|
| Single discretionary allowance | R2,000,000 | Resident aged 18 or older | None, only an ID |
| Foreign investment allowance | R10,000,000 | Resident aged 18 or older, tax compliant | SARS approval for international transfer |
| Above R10 million | By application | Resident, subject to approval | SARB via an authorised dealer |
| Under 18 | R200,000 | Resident minor | None |
| Use | Counts against the SDA |
|---|---|
| Funding an offshore trading account trading account | Yes |
| Travel and holiday spending | Yes |
| Gifts and maintenance to a non-resident | Yes |
| Online purchases from a foreign retailer | Yes |
| Study abroad costs | Yes |
| From | SDA limit | FIA limit |
|---|---|---|
| 2026 | R2,000,000 | R10,000,000 |
| 2015 to 2025 | R1,000,000 | R10,000,000 |
| 2010 to 2014 | R1,000,000 | R4,000,000 |
| Before 2010 | R750,000 | R4,000,000 |
| Amount in a year | Allowance used | Paperwork |
|---|---|---|
| Up to R2,000,000 | SDA | Identity document only |
| R2,000,001 to R12,000,000 | SDA then FIA | SARS approval for international transfer |
| Above R12,000,000 | Application | Reserve Bank via an authorised dealer |
| Under 18, up to R200,000 | Minor's allowance | Identity document only |
| From | Single discretionary | Foreign investment | Combined | What changed |
|---|---|---|---|---|
| 2026 | R2,000,000 | R10,000,000 | R12,000,000 | SDA doubled |
| 2015 to 2025 | R1,000,000 | R10,000,000 | R11,000,000 | FIA raised to R10m in 2015 |
| 2014 | R1,000,000 | R4,000,000 | R5,000,000 | SDA raised from R750,000 |
| 2010 to 2013 | R750,000 | R4,000,000 | R4,750,000 | FIA raised to R4m in 2010 |
| 2008 to 2009 | R500,000 | R2,000,000 | R2,500,000 | Both raised |
| 2006 to 2007 | R160,000 | R2,000,000 | R2,160,000 | FIA raised to R2m |
| Before 2006 | R160,000 | R750,000 | R910,000 | The older regime |
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⬇ Download CSVHow these figures work
Exchange control is administered by the Reserve Bank through authorised dealers, which in practice means the commercial banks. You do not apply to the Reserve Bank; the bank processes the transfer against your allowance.
The single discretionary allowance needs nothing but an identity document. The foreign investment allowance needs an approval for international transfer from SARS, which is a tax compliance check rather than a permission to invest. Both run on the calendar year and both are per person.
★ A worked example
A couple wants to move R6 million offshore in one year to fund an investment account.
Each has a R2 million single discretionary allowance, which together covers R4 million with no paperwork beyond identity documents. The remaining R2 million comes from the foreign investment allowance, which needs SARS approval for international transfer for whoever transfers it.
The transfers must be made from each person's own account in their own name. Moving R6 million from one spouse's account uses that person's allowances, not both, and exceeds the R2 million single discretionary limit on its own.
✕ Common mistakes
- Assuming a return restores the allowance. Money brought back does not free up room. Once used for the year, it is used.
- Transferring on behalf of a spouse. Each allowance is personal. The transfer must come from that person's own account to count against their allowance.
- Confusing the calendar year with the tax year. Allowances reset on 1 January, not on 1 March.
- Leaving the SARS approval to the last moment. The approval for international transfer takes time and requires tax compliance. It cannot be arranged the same day.
Notes on reading these figures
- The allowances run on the calendar year, not the tax year. They reset on 1 January.
- Money brought back does not restore the allowance. Once used, it is used for that year, which matters if you fund an account, withdraw, and want to fund again.
- Both allowances are per person. A couple has access to double, provided each transfer is made in that person's own name from their own account.
To put these figures to work, the SDA and FIA Allowance Tracker runs the arithmetic on your own numbers, and The 2026 SDA increase to R2 million covers the same ground in ordinary language. How the SARB allowance affects trading and SARS Income Tax Tables go into the detail this table only summarises.
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Frequently asked questions
Do I need approval to fund an offshore broker?
Not under the single discretionary allowance, up to R2 million a year. Beyond that, the foreign investment allowance applies and needs SARS approval.
Does travel spending count?
Yes, against the single discretionary allowance, along with gifts, maintenance and online purchases from foreign retailers.
Can I use both allowances in the same year?
Yes. Together they allow R12 million a year per person, with the second portion requiring approval.
What happens above R10 million?
An application through an authorised dealer to the Reserve Bank, considered case by case.
Do children have an allowance?
A resident under 18 has a R200,000 allowance.
Is the allowance per year or per transaction?
Per calendar year, cumulative across all transfers. Your bank tracks the balance used.