Foreigners sending money out of SA
Nov 3rd 2010, 2:13 pm
#1
Forum Regular
Thread Starter
Joined: Dec 2009
Posts: 226
Foreigners sending money out of SA
I have the possibility of a 2 year expatriate contract with a multi-national in SA. I have been told that my salary will be "X" USD but will be paid in ZAR. Does anyone know if it is possible to transfer this money out to an offshore bank on a month to month basis? I do know that SA has some pretty strict currency regulations. Naturally after the 2 years I don't want to be sitting with Rand that I cannot transfer.
Nov 3rd 2010, 3:14 pm
#2
BE Forum Addict
Joined: Feb 2005
Posts: 1,881
Re: Foreigners sending money out of SA
If you are a temporary resident on a temporary work permit you can remit your funds abroad.
If you are a SA citizen or SA Permanent Resident you are subject to the exchange control regulations.
Hope this helps.
If you are a SA citizen or SA Permanent Resident you are subject to the exchange control regulations.
Hope this helps.
