What are South African Exchange Control Regulations?
Exchange control regulations exist in South Africa to protect and stabilise the South African Rand. The exchange control system regulates the inward and outward flow of money in South Africa and it affects both individuals and companies.
South African exchange control rules and regulations are governed by the South African Reserve Bank (SARB) and apply to all foreign exchange payments. All foreign exchange payments need to be declared to the SARB. These include import & export payments, emigration transfers and offshore investments for example.