# Transferring funds from South Africa - advice needed



## Cnf (Mar 17, 2010)

Hi - I was hoping to get advice from fellow South Africans that have transferred funds to Australia.

My situation is that the majority of my funds will only become available after I land in Australia. As you know we need to obtain special clearance from the revenue authority and the reserve bank to move the money.

So my questions are: 

Does anyone have transferring funds into Australia from South Africa (whilst being based in Australia)?
 How difficult is it to obtain the clearances when in Australia vs being in South Africa?

Thanks in advance.


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## Bongus2 (Oct 3, 2009)

*$ clearance*

What I remember is: 
Obtain tax clearance (your accountant should be up on this - if not, I can recommend someone)
You are allowed a once off relocation amount (although when we sold a property 2 years after relocating, we got that amount through)
We took a trip to SA after tax clearance (about 6 months after relocating) to organise all transfers, insurance cancellations etc.
Internet banking helped
Good luck - Pauline




Cnf said:


> Hi - I was hoping to get advice from fellow South Africans that have transferred funds to Australia.
> 
> My situation is that the majority of my funds will only become available after I land in Australia. As you know we need to obtain special clearance from the revenue authority and the reserve bank to move the money.
> 
> ...


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## Fatenhappy (Jun 23, 2009)

Cnf said:


> Hi - I was hoping to get advice from fellow South Africans that have transferred funds to Australia.
> 
> My situation is that the majority of my funds will only become available after I land in Australia. As you know we need to obtain special clearance from the revenue authority and the reserve bank to move the money.
> 
> ...


From recent experience, IMO the best of the lot is Ozforex ...

Recently used them to move funds from Dubai to Oz and on $70,000 landed in Australia they were $3000 better off than the next closest ... 

Fees were minimal and the whole thing was very easy, straight forward and completed money in the bank in Oz in 3 to 4 days .... too easy !

They are also regulated and controlled by the Australian securities watch dog mob so they are safe as you can get anywhere ... !


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