Foreign Investment Allowance
All South African taxpayers over the age of 18 may invest up to R10 million outside of SA, per annum. The first step is to obtain a Foreign Tax Clearance Certificate (FTCC) from SARS – a complex process that requires considerable supporting documentation.
Louw Cooper Rasool offers a comprehensive FTCC service. Our process starts with our completion and submission of a tax clearance application on our clients’ behalf. With the correct supporting documentation, this typically takes a few hours to obtain.
Tax clearances are valid for 12 months from date of issue and clients are free to invest less than the amount applied for. Only actual amounts contribute to the R10 million allowance.