In brief (TL;DR): The
SDA covers transfers up to
R2 million per person per year (learn
how transfers actually move via Capitec) with no SARS approval needed. The
FIA adds another R10 million but requires an
AIT from SARS first. A couple can move up to R24 million combined. Tell us the amount and we will confirm which route applies.
One of the most common questions we get from South Africans in the UK is a simple one: which allowance do I use?
How much money can you transfer out of South Africa? Most adults can transfer up to R2 million per calendar year with no SARS pre-approval, using the single discretionary allowance (doubled from R1 million in the 2026 Budget). A further R10 million per calendar year is available through the foreign investment allowance with an approved SARS AIT - R12 million combined. Above R12 million, transfers need SARB FinSurv special approval and a SARS Letter of Compliance.
The short answer is that it depends on how much you are moving and whether SARS needs to be involved before the transfer goes ahead. Here is how to think about it.
The SDA - simple, fast, no pre-approval needed
The Single Discretionary Allowance (SDA) is the easiest route. Every South African resident adult can transfer up to R2 million per calendar year offshore without any prior SARS sign-off. No application, no waiting, no approval letter - just the standard transfer documentation and a valid SA ID or passport.
This is the allowance that covers most regular transfers: monthly living expenses, gifts, once-off payments, small investments, and top-ups to your UK or EU account. In 2023, SARS introduced Approval International Transfer (AIT) as the single application route replacing the previous Foreign Investment Allowance and Emigration TCS application types. The TCS PIN still exists as the verification mechanism - once your AIT is approved, SARS issues a TCS PIN that the authorised dealer verifies before processing the transfer. WBForex prepares and submits the full AIT application to SARS on your behalf - you do not need to navigate the eFiling process yourself.
SARS turnaround on AIT applications typically takes a few weeks, though this varies. Once approval is in place, the actual currency conversion and transfer happen quickly.
The FIA is designed for larger once-off transfers: property purchases, significant offshore investments, large savings remittances, and amounts that go beyond what the SDA covers in a given year.
Can you use both in the same year?
Yes. The SDA and FIA are separate mechanisms and you can use both in the same calendar year. A single person could therefore move up to R12 million in a calendar year - R2 million under the SDA (no pre-approval) plus R10 million under the FIA (with AIT approval).
A couple, both SA residents with their own allowances, can potentially move up to R24 million between them.
What about amounts above R12 million?
Transfers above the combined R12 million ceiling are possible but require separate approval from the South African Reserve Bank's Financial Surveillance Department (SARB FinSurv), supported by a SARS Letter of Compliance. This is assessed case by case and typically applies to significant inheritance transfers, large property sale proceeds, or the externalisation of substantial wealth.
WBForex manages this process end-to-end where applicable.
What if you are no longer a South African tax resident?
If you have formally ceased your SA tax residency - through the tax emigration process - the standard SDA and FIA rules no longer apply to you in the same way. Non-residents can often remit funds with different documentation requirements, which vary depending on the source and nature of the funds. Get in touch and we will walk you through exactly what applies to your situation.
Tell us how much you want to move and roughly when. Whether you choose the SDA or the FIA route, transferring funds with WBForex ensures you lock in a transparent, live exchange rate. on which allowance applies, what documents you need, and how long the process is likely to take. No forms before you are ready - just a conversation.
Speak to us
FAQ
How much money can I transfer out of South Africa per year?
Up to R2 million per calendar year under the single discretionary allowance with no SARS pre-approval, and up to a further R10 million under the foreign investment allowance with an approved SARS AIT - R12 million combined per adult. Amounts above R12 million require SARB FinSurv special approval and a SARS Letter of Compliance.
Do the SDA and FIA reset every year?
Yes. Both allowances run per calendar year, from 1 January to 31 December, and unused amounts do not roll over. A transfer split across late December and early January can legitimately use two years' allowances.
Can my spouse and I combine our allowances?
Each adult has their own R2 million SDA and R10 million FIA, so a couple can move up to R24 million in a calendar year using both sets of allowances - provided each person's transfer is made from funds in their own name and reported against their own allowance.
