How much forex can I bring into SA?

A Fin24 user asks:

How much forex is an expat allowed to bring into South Africa at one time?

Craig MacFarlane, head of retail at Bidvest Bank, responds:

As an expat coming into South Africa, in terms of the current exchange control regulations there is no limit on what you may bring in.

However, if the amounts brought in are substantial, you may be required to show their source or proof of where the funds originated from.

In addition, if any funds brought into SA are placed on record with the authorities, you may take out the equivalent value in the future.

 - Fin24

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