Foreign bank accounts

[deweyzeph]

A few people have told me lifting the allowance from 1m to 4m is not a lot of paperwork, and can be done with the help of your bank. Never had to do it myself, but it is an option. You can also go to 10m, but that needs quite a bit of effort.

Just remember the R1m allowance is per calendar year. For most people that is more than adequate if you just want to save some money in a foreign currency. Obviously if you sell your house and want to move all that money overseas it's a different story, but for most people R1m a year is more than adequate.

 

[DentistGuy]

Wait what?

https://businesstech.co.za/news/fin...lds-most-volatile-emerging-market-currencies/

We'll see R14 to the dollar real soon.

Necro.


But...Lol

 

[FapCop]

Necro.


But...Lol

Heh that post aged like wine.