ANNOUNCED AS TEMPORARYNo
Controls on credit operations
On 27 October 2010, the South African Reserve Bank issued Exchange Control Circular No. 37/2010, which allowed qualifying international companies to raise and deploy capital offshore through South Africa without prior exchange control approval. In addition, the 10% exit tax previously levied on emigrants' remittances above a threshold of 8 million rand (US$ 778.000) was abolished.
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