We have extensive experience in advising clients on the exchange control requirements and implications for local and international exchange control matters.
Exchange control is governed by the Currency and Exchanges Act 9 of 1933, and Exchange Control Regulations, which were promulgated on 1 December 1961. South African residents are subject to exchange control for any transactions involving foreign exchange.
Our expert advice and substantial experience means clients avoid what can be substantial penalties and fines if the correct processes and rules are not adhered to. Our proficiency ensures that our clients enjoy adept assistance with the knowledge that their exchange control matters are managed as they should be.
We provide extensive Exchange Control services including:
- Cross border transactions
- Corporate investments, both locally and internationally
- Operational transactions
- Regularisations of prior contraventions, including administrative relief
- Foreign investments
- Investments and transfers offshore by individuals
- Offshore allowances
- Transfer of assets
- License, distribution and agency agreements
- Inward investments
- Reviewing transactions and agreements for compliance with exchange control regulations
Jack Phalane +27 11 328 1741