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Foreign Investment Allowance (FIA)

If you wish to transfer or invest money over and above your SDA, you will need to use your FIA.

If you wish to transfer or invest money over and above your SDA, you will need to use your FIA. This allows you to transfer up to R10 million extra abroad during a calendar year. To make use of this allowance, you must comply with the following requirements:

  • Obtain a “Tax Clearance Certificate – Foreign Investment Allowance” (TCC) issued by SARS.
  • Be in good tax standing and be 18 years and older.
  • Don’t deviate from the format and content of the TCC.
  • Acquire a tax compliance status (TCS) letter that contains your tax number and PIN.
  • Don’t use funds to enter a transaction or series of transactions that create a loop structure.
  • Don’t re-introduce funds into South Africa as a loan to a CMA resident.