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South Africa proposes doubling annual foreign transfer limits and easing cross-border financial rules.
The South African Reserve Bank has proposed raising cross-border currency limits, including doubling the annual discretionary allowance for individuals to transfer money abroad from R1 million to R2 million, increasing the travel allowance for minors to R400,000, and raising online purchase and miscellaneous payment limits.
The cash export limit is raised to R100,000, and new rules allow transfers of domestic securities abroad and foreign share acquisitions under certain conditions.
Streamlined renewal of authorizations and standardized transaction timelines are also introduced.
Public comment is open until March 17, with strengthened oversight planned to combat money laundering and tax evasion.
Sudáfrica propone duplicar los límites anuales de transferencias extranjeras y flexibilizar las normas financieras transfronterizas.