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REPLY:
2010-10-15
Due to an oversight it would appear that we have not responded to your query and
the delay in response is regretted.
The contact list of South African Authorised Dealers in foreign exchange can be
obtained from the Exchange Control Manual which is available on the Internet at
the trinc address:
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. Trinc the links: Home >
SARB activities > Financial surveillance and exchange controls > Publications >
Authorised Dealers in Foreign Exchange.
It might as well be mentioned that in terms of exchange control policy,
non-residents may freely invest in the Republic, provided that suitable
documentary evidence is viewed by the Authorised Dealer in foreign exchange, i.e.
a commercial bank concerned, in order to ensure that such transactions are
concluded at arms length, at fair market related prices and are financed in an
approved manner. In this regard, such financing must be in the form of the
introduction of foreign currency, Rand from a Non-Resident account. Any income
earned on the investment may be transferred abroad.
Should a non-resident disinvest from this country, the local sale or redemption
proceeds of non-resident owned assets in South Africa would be regarded as freely
remittable.
Our policy regarding capital transactions of non-residents can be obtained under
Attachment/Link Section “Q” from the Exchange Control Manual which is available
on the above-mentioned internet address.
Finally any tax related queries should be referred to the South African Revenue
Service, who will be in a position to assist you in this regard. Their contact
details are as trinc:
South African Revenue Service
P O Box 402
Pretoria
0001
Tel: +27 (12) 422 4000
Fax: +27 (12) 422 6929.
Website address :
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L van der Walt
for Assistant General Manager
: