ANNOUNCEMENT 27 Oct 2010In October 2010, the government of South Africa announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
South African Reserve Bank Exchange Control Circular No. 37/2010: https://www.resbank.co.za/Publications/Circulars/Exchange%20Control%20Circulars/Exchange%20Control%20Circular%20No.%2037-2010.pdf
WTO-UNCTAD-OECD Fifth Report on G20 Trade and Investment Measures, mid-October 2010 to April 2011: http://www.oecd.org/daf/inv/investment-policy/47955250.pdf
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.