Benefit from 33 years’ exchange control experience at the South African Reserve Bank.
Do you need help with transferring funds from a South African inter vivos trust offshore?
Leave your details below to find out more.
How to transfer funds from a South African trust abroad
Step 1
Online form
Complete our online enquiry form
Step 2
Consultation
One-on-one, confidential consultation with a specialist
Step 3
Quote
Receive a quote
Step 4
Informed
We will keep you informed every step of the way
Step 5
Transfer Trust Funds Abroad
You may now transfer money abroad
Want to transfer funds from a South African trust offshore? FinGlobal can obtain the necessary approval from the South African Reserve Bank.
Capital distributions from a South African inter vivos trust
Section B.2(J)(xii) of the South African Reserve Bank’s Currency and Exchanges Manual for Authorised Dealers permits the distribution of capital and income from a South African based inter vivos trusts to foreign beneficiaries, where previously, these were blocked in terms of Exchange Control Regulation 4(2).
However, South African expats whose emigration was finalised by the South African Reserve Bank and individuals who have ceased tax residency in South Africa will have to apply for an Approval for International Transfer tax clearance (AIT) from the South African Revenue Service if they wish to transfer capital distributions from an inter vivos trust abroad. For the transfer of funds more than R10 million, exchange control approval must be obtained from the South African Reserve Bank.
Income distributions from a South African inter vivos trust
For the transfer of income distributions up to R10 million, individuals will have to apply for a Tax Compliance Status – Good Standing on an annual basis. For income transfers more than R10 million, individuals will have to apply for an Approval for International Transfer tax clearance (AIT) from the South African Revenue Service.
If the income transfer is more than R10 million, exchange control approval must be obtained from the South African Reserve Bank.
What documents are required to receive a trust distribution as a non-resident?
You will need to furnish the South African Revenue Service with the following documentation:
• Copy of the trust deed and latest available financial statements of the trust
• 3 months’ bank statements for you and the trust
• Resolution passed by trustees to make a capital / income distribution
• Details of the source of funds that made it possible for the trust to make a capital distribution.
Contact us today regarding the offshore transfer of funds from a South African domiciled inter vivos trust.
What our customers are saying
“Their service is extremely professional. Every step is explained to you in detail. I would recommend FinGlobal to anyone anywhere in the world. They will get your funds transferred out of South Africa without any problems. Once again to all the staff at FinGlobal, THANK YOU!”
Neville WilliamsAustralia
“All the people at FinGlobal I have dealt with have been very friendly and helpful. Even with the March 2021 changes to financial emigration and transfer of funds abroad, they adapted to the changes required, and achieved what was required. I would be happy to recommend them to friends and family.”
Eddie TuckerUnited Kingdom
“FinGlobal staff were absolutely wonderful from the beginning of the process, right through to the end! I cannot speak highly enough regarding the quality of service we received and would unreservedly recommend their services to anyone. Thank you very much for all your help!”
Bronwyn GoodburnCanada
Contact us today regarding the transfer of South African based trust funds!
We’ll answer all your questions. Your personal consultation is completely free and without obligation.