South Africans watching the direction of the rand over the long term have reached a clear conclusion: owning an asset in a foreign currency is no longer a luxury – it’s a sound financial strategy.
It provides hard-currency exposure, diversification, and – in some cases – residency opportunities abroad. For these reasons, the UK, Portugal, Mauritius, Australia and the UAE have all seen growing demand from South African buyers looking to purchase property abroad.
While buying overseas property is entirely legal for South African residents, the process of moving capital out of the country has become increasingly complex.
The South African Reserve Bank (Sarb) and South African Revenue Service (Sars) have tightened exchange control compliance requirements around international transfers, while traditional banks continue to charge substantial hidden premiums with limited guidance.
For many South Africans, the challenge lies in navigating a multi-layered system of regulation, documentation, and cross-border coordination when moving funds offshore – regardless of the reason behind the transfer.
Recognising this gap, multi-award-winning fintech Future Forex has built a specialist end-to-end solution for South Africans moving money offshore – whether for a property purchase, emigration, an offshore investment, or any other cross-border transfer.
“For South Africans moving larger sums offshore – whether for the purchase of property or for any other reason – there are regulatory complexities that can quickly turn into a nightmare, not to mention the high costs of transacting through the banks,” says Harry Scherzer, CEO of Future Forex.
“We’ve paired proprietary technology with a genuinely white-glove service to remove the friction from this process, making it quicker, easier and significantly more cost-effective.”
The challenges South African buyers face
Cross-border property purchases involve several layers of compliance that go beyond simply sending money offshore.
As a South African tax resident, you can transfer up to R2 million per year under the Single Discretionary Allowance (SDA) without requiring prior Sars approval.
For larger amounts, an Approval of International Transfer (AIT) allows for an additional transfer of up to R10 million per calendar year, though this requires a formal application to Sars.
The AIT is a full financial disclosure process – covering income, assets, liabilities and residency status – before any offshore transfer can proceed.
Banks are required to verify AIT approval before processing international payments, and can block or freeze transactions where documentation is wrong or incomplete.
It’s also worth noting that once you own an overseas property, any rental income earned from it remains declarable to Sars for as long as you are a South African tax resident. This is an ongoing obligation that often catches buyers off guard after the transaction is complete.
For buyers working to a tight timeline – as is almost always the case in property transactions – delays caused by missing documentation, unresolved residency questions, or poor coordination between Sars, local banks and foreign conveyancers are a serious and costly risk.
On top of this, traditional banks typically apply hidden exchange rate mark-ups of 2-3% on offshore forex transfers. On a property purchase of R5 million or more, this alone can add over R100 000 in unnecessary fees.
And beyond the cost, clients are often left with limited guidance throughout what is a highly complex, multi-party process.
A dedicated end-to-end solution for buying property abroad
To address this complexity, Future Forex offers a fully managed service built specifically for South Africans purchasing property abroad.
Each client is assigned a dedicated account manager who oversees the entire process – from exchange control compliance and the AIT applications through to payment execution and settlement – coordinating directly with Sars, local banks, and overseas conveyancers or attorneys on the client’s behalf.
This white-glove solution includes:
- Guidance on applicable exchange control allowances and transfer limits;
- Assistance with Sars AIT applications and supporting documentation;
- Coordination with overseas conveyancers, attorneys, and banks; and
- Transparent, industry-leading exchange rates for your offshore property purchase.
The result is a faster, smoother transaction at a fraction of what traditional bank channels typically charge for offshore property transfers – with the peace of mind of knowing that every compliance requirement has been handled by a team of experts.
Technology that simplifies moving money offshore
Beyond personal support, Future Forex provides an intuitive online platform and mobile app where clients can track live exchange rates, request quotes, upload documents, and monitor payments in one place:
This combination of high-touch service and user-friendly technology removes much of the friction South Africans typically encounter when trying to move money offshore for an overseas property purchase or offshore investment.
Future Forex’s approach has earned consistent industry recognition, including ‘Company of the Year’ at the 2025 Africa Career Summit and ‘Outstanding Customer Service in Forex & Payments, South Africa’ at the World Business Outlook Awards.
Whether you are funding your first offshore property purchase in Portugal, the UK, Mauritius or further afield, or transferring capital for a growing international portfolio, working with a specialist who understands both South African exchange control regulations and the practical needs of cross-border buyers can make a substantial difference.
Follow this link to get in touch with a Future Forex expert or request a quote for your transaction. You can also give them a call on 021 518 0558 or send them a message on WhatsApp.
Brought to you by Future Forex.
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