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FOREIGN EXCHANGE
Anchor FX: Tailored for your investment goals
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 R1 million per calendar year offshore for personal use without prior SARS approval. This allowance is ideal for travel expenses, gifting, or small-scale international investments. Utilise your 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 Swop
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 manage international transactions effortlessly. Proper structuring helps you avoid unnecessary taxation, ensuring tax-efficient growth while your business expands across global markets. 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’s no one-size-fits-all approach to foreign exchange.
Each client’s currency needs are unique, whether you’re 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 dedicated FX specialists guide you through every step of your foreign exchange journey, ensuring seamless transactions and strategic advice to optimise your currency movements.
Personalised Solutions
No two clients are the same. We customise our FX services to fit your lifestyle and investment objectives, whether you’re sending money abroad, funding international investments, or managing corporate needs.
Comprehensive Support
From Special Discretionary Allowances (SDA) and Foreign Investment Allowances (FIA) to corporate CFC accounts, we cover every aspect of foreign exchange, helping you grow wealth across borders with ease.
Ready to Take the Next Step?
Maximise your foreign exchange opportunities. Contact one of our wealth managers today to start the process!
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 future.
Investments can be structured using tax-efficient vehicles such as retirement annuities, pension funds, and Tax-Free Savings Accounts (TFSAs). These tools allow for tax deductions, exemptions, or deferrals that lower your overall tax burden.
Capital Gains Tax (CGT) is levied on the profit made from selling an asset. You can reduce CGT through effective planning, such as timing the sale of assets over multiple tax years, using CGT exemptions, and rebalancing portfolios strategically.
A TFSA (Tax-Free Savings Account) allows you to invest up to a specified annual limit without paying tax on the returns, dividends, or withdrawals. It’s an ideal way to grow wealth over the long term without tax erosion.
Contributions to retirement vehicles like annuities and pension funds are tax-deductible, reducing your taxable income. Additionally, investment growth within these accounts is not taxed until retirement, and certain withdrawals are taxed at lower rates.
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.
Yes, tax planning can help reduce estate duties and inheritance taxes, ensuring more wealth is transferred to your beneficiaries. Effective strategies include gifting assets during your lifetime, using trusts, and planning for exemptions within estate laws.
Still have questions?
Speak to a wealth manager to discuss your tax planning & optimisation 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