Advise on foreign/ non-resident bank account

[Kompete]

Anyone aware of specific SA exhange controls that cover use of individual bank accounts in another country. SA banks would typically offer non-resident bank account for foreigners visiting/moving to SA.

I am interested in maintaining a UK bank account as a SA resident - and what rules Gill (sarb) has established for managing UK non-resident bank account. I cant find anything dealing with individuals, mostly companies.

thanks

 

[Billy]

http://www.iombank.com/iom/personal-banking/current-accounts/g27/select-account.ashx

 

[Kompete]

http://www.iombank.com/iom/personal-banking/current-accounts/g27/select-account.ashx

Thanks but not what i'm looking for. I need advice on specific SA exchange controls that cover use of individual foreign bank accounts.

 

[HavocXphere]

The exchange control limits are sky-high...not easy to hit for mere mortals without selling a big house.

You do need to declare it though afaik...don't know the details. Please post anything you find though...interested too.

edit...its the movement out of the country...once its outside the Res Bank doesn't care. SARS does though...you still need to declare interest etc earned (and do the whole s6quat story).

 

[dunkyd]

Phone any number in Jersey Channel Islands for the answer

Try ringing Appleby. They will help you.