• Exchange Control Compliance is Crucial When Transferring Funds Abroad

  • Apr 2 2025
  • Length: 8 mins
  • Podcast

Exchange Control Compliance is Crucial When Transferring Funds Abroad

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  • Summary

  • South African exchange control regulations have become stricter, especially for high-net-worth individuals (HNWI) and expats moving large sums abroad. In this episode, Richan Schwellnus (Tax Attorney and General Tax Practitioner) and Michelle Phillips (Tax Attorney) provide clear guidance on how to approach international transfers in line with SARS and Reserve Bank requirements.

    Topics:

    00:00 – Why exchange control compliance matters now more than ever
    03:07 – What is Financial Emigration and its impact on your banking
    04:04 – Understanding AIT (Approval for International Transfer) and what SARS looks for
    06:11 – How long does it take to get approval to move funds offshore?

    Subscribe for more expert insight, comment with your questions, share this episode with your network, and visit our website for tailored guidance on exchange control and tax compliance. https://bit.ly/4iT5eKb

    #ExchangeControl #FinancialEmigration #TaxResidency #AITApproval #HighNetWorth #SouthAfricanExpats #OffshoreFunds #SARSCompliance #CrossBorderTax #TaxConsulting
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