For those who have emigrated from South Africa the legislation governing blocked rands has long been a source of frustration.
Not only have blocked rands been a largely passive investment, often decreasing in value, but most emigrants would have preferred to have the use of them in their new country and under their control.
It is estimated that some R20 – R25 billion is currently held in blocked rands and if your money is part of this you may soon be able to release it and transfer it abroad.
October 27th 2010 saw the Mid term budget speech and the proposal of some major reforms to the existing exchange control regulations around blocked rands and good news for those individuals seeking information about releasing blocked rands.
The treasury proposes releasing emigrants’ blocked assets without any exit levy. Or in laymen’s terms you will now be free to apply to unblock your rand assets and transfer them to wherever in the world you desire.
Find out more about releasing blocked rands now with Incompass by e-mailing us here.
Incompass are an FSCA (Financial Sector Conduct Authority) registered company holding all appropriate licences. Our money transfers, in and out of South Africa, are done in strict accordance with money laundering regulations and exchange control regulations; and all our transactions are audited in terms of our licence and banking requirements.
All of our transactions are processed through local banks, that are approved authorised dealers by the South African Reserve Bank.
Who better to trust to guide you through the process of releasing your blocked rands
Contact Incompass for releasing blocked rands
To find out more about how we can help you with releasing your blocked rand’s call us on any of the numbers below or send us an e-mail.
Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275