Question:
With reference to your reply regarding how much money one can take out of South Africa — is it R160 000 per annum or R100 000 per annum (per individual)?

The reason I ask is because the South African High Commission website states it is R100 000 and not R160 000 as you claim in the article titled 'Taking money abroad'.

Answer:
Since that article was written exchange control rules have changed and obviously the South African High Commission needs to update their website.

A single discretionary allowance of R500 000 per individual per calendar year is now permitted. This allowance can be used for travel, gifts, donations and maintenance.

In other words everything now falls under one umbrella so if you want to give someone a gift of R500 000 you can do this, but then obviously you would not be able to travel.

Residents (natural persons) who are under the age of 18 years are, however, not eligible for the single discretionary allowance, but they are permitted to take out the amount of R160 000 per calendar year as a travel allowance.