With only one month remaining in 2023, time is running out for South Africans to use their annual Single Discretionary Allowance.
A Single Discretionary Allowance (SDA) allows South Africans to transfer R1 million offshore each year.
The allowance is often used for investment purposes – such as buying US dollars or shares in US stock markets – to protect against rand weakness and South Africa’s stagnant economy.
It is important to note that your annual SDA is allocated per calendar year – which means if you do not use it before the end of 2023, your allowance for this year falls away.
Transfer money quickly and securely with Rand Swiss
For individuals and businesses who need money transferred out of South Africa quickly and securely, Rand Swiss will take care of the entire process – from start to finish.
Rand Swiss offers foreign exchange and cross-border transfer solutions to suit a variety of needs, such as if you are investing in an international stock market or business, emigrating, selling a property abroad, or donating funds to a friend or family member overseas.
Rand Swiss offers:
- Highly-competitive exchange rates.
- Access to over 60 countries and 25 currencies.
- Fast transfer times.
- Expert support and exchange control guidance.
- Highly-secure transactions approved by the SARB.
To find out more from Rand Swiss, complete the form below.
About Rand Swiss
Rand Swiss is an authorised Financial Services Provider – regulated by the FSCA and SARB-approved – that provides a range of investment, wealth, and advisory solutions.
Its dedication to the highest levels of service has resulted in a long list of awards, which includes winning the Top Securities Broker for South Africa accolade from Intellidex.
The Rand Swiss head office is based in the JSE Building, in Sandton, Gauteng.