Exchange Control

Cranko Karp & Associates provides Exchange Control services to our clients, including making of the various applications to the Reserve Bank.

All foreign exchange transactions in South Africa are subject to Exchange Control regulations. These regulations are put in place by the Reserve Bank of South Africa and they affect every foreign currency transaction, executed by a South African resident.

Our legal team can assist you efficiently with compliant exchange control transactions. Our legal specialists deliver customised solutions to every exchange control transaction, to afford you peace of mind.

WHAT IS EXCHANGE CONTROL?

dispute resolution

Exchange Control is defined as the restrictions or controls put in place, or regulations made by the central bank to regulate the movement of currencies in and out of the country. These controls or limitations allow a country to stabilise its economies by limiting currency in-flows and out-flows.

Exchange control also concerns the restrictions imposed by the government on all transactions conducted in foreign currency. The South African Reserve Bank determines how foreign exchange earned by individuals and businesses is spent. All foreign exchange that is earned must be sold at the central bank at a predetermined rate.

There are also limits on foreign currency amounts that individuals and businesses can purchase from the central bank. In addition, exchange control is also used to restrict non-essential imports, encourage the import of priority goods, control the outflow of capital, and manage the country’s exchange rate. Generally, countries use exchange control to manage the value of the local currency.

PERMISSIBLE REASONS FOR

TRANSFERS ABROAD 

dispute resolution
  • Donations to missionaries.
  • Maintenance transfers.
  • Travel allowance.
  • Study allowance.
  • R 1 million foreign capital allowance.
  • R10 million individual capital allowance.

As attorneys with vast experience in exchange control transactions, we will monitor your compliance with the exchange control regulations that are promulgated by the Reserve Bank of South Africa. We protect you or your business against the inherent risks and challenges involved with foreign exchange transactions.

Our job is to guide you through the exchange control process.

What We Can Do For You

dispute resolution
  • Cranko Karp & Associates provides extensive exchange control services including,

      • Cross border transactions
      • Corporate investments, both locally and internationally
      • Operational transactions
      • Regularisations of prior contraventions, including administrative relief
      • Foreign investments 
      • Investments and transfers offshore by individuals 
      • Offshore allowances
      • Emigration
      • Transfer of assets
      • License, distribution and agency agreements
      • Inward investments
      • Reviewing transactions and agreements for compliance with exchange control regulations

Why Work With Us

dispute resolution
        • Our exchange control services offer security and convenience
        • We are efficient, giving you the peace of mind you need – whether purchasing products or paying for services from another country.
        • We are well-versed in the complexities of exchange control
        • We offer exchange control assistance and advice

We can help you reach your goals by staying compliant and providing sound legal advice for all Exchange Control services. As Exchange Control experts, we will help you avoid potential legal problems by advising you and guiding you on what needs to be done.  Contact Cranko Karp & Associates for a consultation.

Get In Touch With Us For Exchange Control Services