Established in 2007, Velocity Trade is a global provider in Foreign Exchange with offices in North America, Europe, Australasia and Africa.

Through its expansive network of banking relationships Velocity Trade is able to service our clients with a comprehensive set of FX products and services competitively tailored to suit each client’s unique requirements.

Transfers from South Africa are subject to Exchange Control regulations and individual annual allowances granted by the South African Reserve Bank (SARB).

Our experienced team of FX professionals take the pain out of the administrative requirements associated with the reporting and documentation required by South African Authorised Dealers and can assist with the following:

  • Annual Individual Discretionary Allowance of up to R1 million per calendar year
    The Discretionary Allowance can be used for any legal purpose abroad, and does not require Foreign Tax Clearance. It should include all costs incurred from South Africa in a foreign currency, such as your Credit Card expenditure, whilst travelling abroad.

  • Annual Individual Foreign Capital/Investment Allowance of up to R10 million per calendar year
    The Discretionary Allowance can be used for any legal purpose abroad, and does not require Foreign Tax Clearance. It should include all costs incurred from South Africa in a foreign currency, such as your Credit Card expenditure, whilst travelling abroad.

  • SARB Special Approval Applications
    The Discretionary Allowance can be used for any legal purpose abroad, and does not require Foreign Tax Clearance. It should include all costs incurred from South Africa in a foreign currency, such as your Credit Card expenditure, whilst travelling abroad.

  • Emigration Allowances
    The Emigration Allowance is currently set to R20 million per family unit. We can advise and assist with the formal emigration process and the related exchange control requirements.

    • Non-Resident transfers
      The Discretionary Allowance can be used for any legal purpose abroad, and does not require Foreign Tax Clearance. It should include all costs incurred from South Africa in a foreign currency, such as your Credit Card expenditure, whilst travelling abroad.

    • Transfers from Purchase and Sale of Property
      If you are buying property in South Africa or taking proceeds from the sale of property out of South Africa, we can assist you with any SA exchange control requirements and save you money on the exchange rates from your bank.

How it Works

Step 1:

Complete the simple Online Registration by uploading/emailing your KYC/FICA documents:

  • Certfied copy of ID
  • Recent Proof of Address (no more than 3 months old)
Step 2:

Complete the Authorised Dealer documentation and email signed copies back to us.

Step 3:

Receive details of your FX Settlement Account to fund the purchase of your currency.

Step 4:

Request live exchange rate quotes by email or telephone from your personal FX Dealer, and secure a favourable rate when satisfied.

Step 5:

Receive a Client Trade Confirmation for each transaction.

Step 6:

Receive a SWIFT/Payment Confirmation for each transaction.