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Section |
A. |
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A |
B. |
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B |
C. |
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C |
D. |
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D |
D.1 |
Legislation, Regulations, Orders and Rules |
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D.2 |
Delegation of Powers |
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D.3 |
Liaison with Department of Finance |
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D.4 |
Functions of Authorised Dealers |
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D.5 |
Applications to the Financial Surveillance Department |
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D.6 |
Organisation of the Financial Surveillance Department |
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D.7 |
Territory of exchange controls |
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D.8 |
Resident and non-resident status |
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E. |
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E |
F. |
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F |
F.1 |
Introduction |
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F.2 |
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G |
2.1 |
Payments for merchandise imports |
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2.1.1 |
General requirements |
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2.1.2 |
Required procedures and documents |
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2.1.3 |
Purpose of control |
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2.1.4 |
Matters to be referred to the Financial Surveillance Department |
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2.1.5 |
Norms applied and factors considered |
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2.1.6 |
Payments on a cash-with-order basis |
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2.1.7 |
Payments by means of credit and/or debit cards |
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2.1.8 |
Acquisition of patents, copy-rights, trademarks, franchises and/or intellectual property in general |
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2.2 |
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H |
2.2.1 |
Purpose of control |
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2.2.2 |
Single discretionary allowance |
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2.2.2.1 |
Travel allowances and associated facilities |
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2.2.3 |
Temporary exportation of personal effects and jewellery |
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2.2.4 |
Temporary exportation of motor vehicles, caravans, trailers, horse-boxes and motor/sail boats overland and of ocean going yachts by residents |
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2.2.5 |
Renewal of passports, obtaining visas, copies of birth/death certificates, testimonials, degrees and/or diplomas |
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2.2.6 |
South African residents proceeding abroad on a temporary basis |
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2.2.7 |
Study facilities |
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2.2.8 |
Conference, congress, seminar and examination fees |
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2.2.9 |
Medical and dental expenses |
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2.2.10 |
Subscriptions |
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2.2.11 |
Export of South African Reserve Bank notes |
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2.3 |
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I |
2.3.1 |
Remittance of dividends profits and income from the RSA |
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2.3.2 |
Royalties and fees arising from the use of copyrights, designs, patents and trademarks |
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2.3.3 |
Directors' fees to non-residents |
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2.3.4 |
- |
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2.3.5 |
- |
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2.3.6 |
Legal fees to non-residents |
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2.3.7 |
Other fees |
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2.3.8 |
Advertising fees/ exhibition/trade fair expenses |
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2.3.9 |
Payments to visiting artistes, entertainers and sportsmen |
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2.3.10 |
Payments to foreign crew members calling at South African ports |
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2.3.11 |
Allowances for business travel |
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2.3.12 |
Air fares for overseas visitors |
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2.3.13 |
Travel between destinations outside the Republic |
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2.3.14 |
Freight payments and ships and aircraft disbursements |
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2.3.15 |
Transfer abroad of reinsurance premiums |
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2.3.16 |
Technical service payments |
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2.3.17 |
Registration of drugs |
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2.3.18 |
Registration on agrochemical products |
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2.3.19 |
Tender documentation |
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2.3.20 |
Tender guarantees/bid bonds |
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2.3.21 |
Performance guarantees |
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2.3.22 |
Court judgement payments |
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2.3.23 |
Refunds |
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2.3.24 |
Advance payment guarantees |
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2.3.25 |
Transportation costs and cash floats |
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2.3.26 |
Rental and lease payments |
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F.3 |
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J |
3.1 |
Payments by embassies, high commissions, legations, consulates-general, consulates and official overseas representatives |
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3.2 |
Payments by other foreign nationals who have taken up temporary residence in the Republic |
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3.2.1 |
Norms applied |
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3.2.2 |
General requirements |
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F.4 |
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K |
4.1 |
Purpose of control |
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4.2 |
Receipts from merchandise exports |
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4.2.1 |
General requirements |
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4.2.2 |
Sales periods and credit |
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4.2.3 |
Sale of currency |
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4.2.4 |
Special stipulations |
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4.2.4.1 |
Exports on a consignment basis |
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4.2.4.2 |
Replacement goods, short shipments and goods under guarantee |
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4.2.4.3 |
Export of defective goods for replacement |
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4.2.4.4 |
Export of advertising matter and trade samples |
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4.2.4.5 |
Return of goods for which no payment has been made |
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4.2.4.6 |
Temporary export of goods to Angola, Botswana, Democratic Republic of the Congo, Malawi, Mauritius, Mocambique, Seychelles, Tanzania, Zambia and Zimbabwe |
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4.2.4.7 |
Export of philatelic and numismatic items |
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4.2.4.8 |
Temporary exportation of motor vehicles, caravans, trailers, horse-boxes and motor/sail boats. |
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4.2.4.9 |
Export of motor vehicles in the possession of non-residents leaving the Common Monetary Area for any other country |
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4.2.5 |
- |
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4.2.6 |
- |
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4.2.7 |
Setting off foreign liabilities against foreign accruals |
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4.3 |
Other exports |
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4.3.1 |
Service receipts |
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4.3.2 |
Disposal of patents, copy-rights, trademarks, franchises and/or intellectual property in general |
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F.5 |
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L |
5.1 |
Gifts |
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5.1.1 |
Monetary gifts and loans |
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5.1.2 |
Gift parcels |
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5.1.3 |
Krugerrand coins |
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5.2 |
Donations |
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5.2.1 |
Donations to missionaries by private individuals |
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5.2.2 |
Donations to missionaries by religious bodies |
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5.2.3 |
Donations to charitable, religious or educational bodies |
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5.3 |
Maintenance |
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5.3.1 |
General requirements |
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5.3.2 |
Matters to be referred to the Financial Surveillance Department |
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5.3.3 |
Factors to be consider |
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5.4 |
Alimony and child support payments |
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| 5.4.1 |
Wedding expenses and other special occasions |
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| 5.4.2 |
Foreign capital allowance |
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5.5 |
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M |
5.5.1 |
Estates of persons regarded as permanent residents of the RSA at the time of death |
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5.5.1.1 |
Legacy transfers |
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5.5.1.2 |
Export of jewellery |
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5.5.1.3 |
Export of personal effects |
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5.5.1.4 |
Export of other assets |
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5.5.2 |
South African estates of persons, including emigrants, domiciled outside the CMA at the time of death |
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5.5.2.1 |
Legacy transfers |
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5.5.2.2 |
Export of jewellery and personal effects |
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5.2.3 |
Inheritances by South African residents from non-resident estates |
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5.6 |
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N |
5.6.1 |
Purpose of control |
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5.6.2 |
Norms applied and factors considered |
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5.6.3 |
Own-asset trust |
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5.6.3.1 |
Established prior to emigration |
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5.6.3.2 |
Established subsequent to emigration |
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5.6.4 |
Third-party funded trust |
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5.6.4.1 |
Emigrants |
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5.6.4.2 |
Original non-residents |
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5.6.5 |
Required procedures |
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5.7 |
- |
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F.6 |
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O |
6.1 |
Foreign investment by South African residents |
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6.1.1 |
Private individuals (natural persons) |
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6.1.2 |
South African companies |
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6.1.2.1 |
Norms applied and factors considered |
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6.1.2.2 |
Investments not exceeding R500 million |
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6.1.2.3 |
Investments exceeding R500 million |
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6.1.2.4 |
Reporting requirement |
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6.1.2.5 |
Expansion of business abroad and remission of funds |
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6.1.3 |
Loans by residents to non-residents |
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6.1.4 |
Portfolio investments |
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6.1.4.1 |
Portfolio investments by residents |
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6.1.4.2 |
Portfolio investments by South African institutional investors |
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6.1.4.3 |
Prudential limit on foreign diversification by Authorised Dealers |
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6.1.4.4 |
South African Private Equity Funds |
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6.1.4.5 |
International Headquarter Companies |
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6.1.5 |
Share incentive schemes offered by foreign companies |
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6.1.6 |
Trade finance |
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6.1.7 |
Borrowing abroad by residents |
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6.1.7.1 |
Control over borrowing abroad by residents |
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6.1.7.2 |
Purpose of control |
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6.1.7.3 |
Authority to Authorised Dealers |
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6.1.7.4 |
Categories of loan finance |
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6.1.7.4.1 |
Trade finance, short-term working capital loans and long term loans |
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6.1.7.4.2 |
Loans from non-resident shareholders to affected persons |
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6.1.7.5 |
Fraudulent practices involving purported foreign loan facilities |
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6.1.8 |
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P |
6.2 |
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Q |
6.2.1 |
Local financial assistance to affected persons and non-residents |
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6.2.1.1 |
General restriction |
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6.2.1.2 |
Purpose of control |
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6.2.1.3 |
General requirements |
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6.2.1.4 |
Authority to Authorised Dealers |
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6.2.1.5 |
Matters to be referred to the Financial Surveillance Department |
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6.2.1.6 |
Applications to Authorised Dealers |
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6.2.1.7 |
Security given by non-residents |
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6.2.1.8 |
Loans from non-resident shareholders |
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6.2.2 |
Disinvestment from the RSA |
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6.2.3 |
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R |
6.2.4 |
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S |
6.2.4.1 |
Definitions |
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6.2.4.2 |
Control on dealings in non-resident owned securities |
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6.2.4.3 |
Form of control |
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6.2.4.4 |
Purpose of control |
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6.2.4.5 |
General requirements |
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Securities held on behalf of non-residents |
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Securities purchased by non-residents |
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6.2.4.6 |
Duties of banks, stockbrokers and transfer secretaries |
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6.2.5 |
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T |
6.2.5.1 |
Purpose of control |
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6.2.5.2 |
Qualification for emigration facilities |
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6.2.5.3 |
Application for emigration facilities |
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6.2.5.4 |
Facilities for which emigrants qualify |
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Cash allowance |
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Foreign capital allowance |
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Export of household and personal effects and motor vehicles |
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6.2.5.5 |
Authority to Authorised Dealers |
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6.2.5.6 |
Matters to be referred to the Financial Surveillance Department |
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6.2.5.7 |
Time and method of provision of exchange |
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6.2.5.8 |
Control of blocked South African assets |
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6.2.5.9 |
Procedures for remaining assets |
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6.2.5.10 |
Effect of emigration on emigrants' borrowings in South Africa |
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6.2.5.11 |
Effect of emigration on the local borrowings of a South African company in which an emigrant retains an equity interest |
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6.2.5.12 |
South African income accruing to emigrants |
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6.2.5.13 |
Emigration of a Lloyd's of London member |
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6.2.5.14 |
Income tax refunds |
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6.2.5.15 |
Retirement annuity policies |
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6.2.6 |
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U |
6.2.6.1 |
- |
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6.2.6.2 |
Requirements upon taking up permanent residence |
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6.2.6.3 |
Concessionary periods applicable to immigrants |
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6.2.6.4 |
Income on foreign assets accruing to immigrants |
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6.2.6.5 |
Other concessions available to immigrants |
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F.7 |
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V |
7.1 |
Hedging |
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7.1.1 |
General |
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7.1.2 |
Forward cover of hedging transactions between Authorised Dealers and residents |
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7.1.3 |
Forward cover of hedging transactions between Authorised Dealers and non-residents |
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7.1.4 |
Hedging instruments |
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7.1.5 |
Hedging operations |
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7.1.6 |
Foreign currency against foreign currency |
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7.1.7 |
Surrenders of extensions by means of swaps |
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7.2 |
- |
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7.3 |
Foreign bank accounts |
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7.3.1 |
Purpose of control |
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7.3.2 |
Norms applied and factors considered |
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7.3.3 |
Customer foreign currency accounts |
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7.4 |
Purchase and sale of gold |
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7.5 |
Importation and exportation of bank notes |
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7.5.1 |
Foreign currency bank notes |
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7.5.2 |
South African Reserve Bank notes |
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7.6 |
Insurance by residents of the Republic |
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7.7 |
Merchanting trade |
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7.8 |
Barter and counter trade |
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7.9 |
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W |
7.9.1 |
Introduction |
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7.9.2 |
General |
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7.9.3 |
Measures applicable to inward listed debt instruments, derivative instruments and equity issues on the JSE Limited |
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7.9.3.1 |
Types of instruments |
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7.9.3.2 |
Acquisition issue |
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7.9.3.3 |
Issue of shares for cash |
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7.9.3.4 |
Capital raising through new debt listings |
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7.9.3.5 |
Rights offers |
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7.9.3.6 |
- |
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7.9.3.7 |
- |
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7.9.3.8 |
Denomination of debt instruments, equity issues and derivative instruments |
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7.9.4 |
Measures applicable to inward listed debt instruments on BESA |
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7.9.4.1 |
Denomination of debt instruments |
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7.9.4.2 |
Types of instruments |
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7.9.4.3 |
Capital raising through new listings |
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7.9.5 |
Special dispensation to local brokers to facilitate the trading of inward listed shares |
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