FOREIGN EXCHANGE
Anchor FX: Your gateway to tailored foreign exchange investment solutions
Whether you need to hedge, access forward rates, or streamline international payments, Anchor FX offers bespoke foreign exchange solutions to meet your personal or business needs.
Individual discretionary allowance
Move up to R1mn per calendar year offshore for personal use without prior approval from the South African Revenue Service (SARS). This allowance is ideal for travel expenses, gifting, or small-scale international investments. Use your single discretionary allowance (SDA) wisely to diversify assets abroad and take advantage of global opportunities.
Tax clearance
We simplify the tax clearance application process, ensuring a smooth transition for larger offshore investments. Our expert team works closely with SARS to secure approvals quickly, allowing you to focus on growing your wealth across borders without administrative delays.
Asset swap
Optimise your portfolio by seamlessly exchanging local and offshore assets. This strategic approach ensures your funds remain mobile and aligned with your financial goals. Whether for risk management or international exposure, we make cross-border transfers simple and cost-efficient.
CFC accounts for corporates
Open a customer foreign currency (CFC) account to effortlessly manage your international transactions. Our proper structuring ensures you avoid unnecessary taxation, allowing for tax-efficient growth as your business expands across global markets. With us, you can maximise international opportunities while staying compliant with local regulations.
SDA and FIA
How does your discretionary and investment allowance work?
SDA (Single Discretionary Allowance):
Every South African resident is allowed to move up to R1 million annually offshore without SARS approval. This allowance covers personal travel, offshore gifts, or small-scale investments.
FIA (Foreign Investment Allowance):
If you need to transfer larger amounts, the FIA allows you to move up to R10 million per year, provided you have a tax clearance certificate from SARS. Anchor Capital can guide you through this process seamlessly, ensuring compliance and maximising efficiency.
Tailoring Your FOREIGN EXCHANGE STRATEGY
There is no one-size-fits-all approach to foreign exchange.
Each client’s currency needs are unique, whether you are hedging currency risk, making international transfers, or investing offshore. At Anchor, we provide personalised FX solutions to ensure your strategy aligns with your broader financial goals. Whether you are looking to lock in favourable exchange rates, move funds overseas, or optimise for growth, we tailor our approach to meet your specific needs.
Expert guidance
Our team of dedicated FX specialists will guide you through every step of your foreign exchange journey, ensuring seamless transactions and strategic advice to optimise your currency movements.
Personalised solutions
At Anchor FX, we understand that no two clients are the same. That is why we customise our FX services to fit your unique lifestyle and investment objectives, whether you are sending money abroad, funding international investments, or managing corporate needs.
Comprehensive support
From SDAs to foreign investment allowances (FIAs) and corporate CFC accounts, we cover every aspect of foreign exchange. With Anchor FX, you can easily grow your wealth across borders, knowing you have comprehensive support at every step.
Frequently asked questions
Want to find out more about foreign exchange?
Below are some of the most common questions we hear from individuals preparing for their financial future.
You can invest in offshore unit trusts, shares, property, or other global investment instruments.
Your SDA can be used for investments, travel, or gifts, but the total must not exceed R1 million per calendar year.
Yes, any income or capital gains from offshore investments must be declared to SARS in your annual tax return.
No, these allowances reset annually, and unused portions cannot be carried forward.
Double taxation occurs when both local and foreign authorities tax the same income or gains. Using tax treaties between countries, investing in tax-friendly jurisdictions, and working with tax professionals can help minimise or avoid double taxation.
Transfers exceeding the annual limits require SARB approval and may be subject to penalties.
Still have questions?
Speak to a wealth manager to discuss your foreign exchange goals.
Contact Us
Speak to a wealth manager today
Speak to a wealth manager to discuss your financial goals.
- 011 591 0677
- invest@anchorcapital.co.za
