Exchange Control Relaxation

Posted On Tuesday, 26 October 2004 02:00 Published by
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Announcement of relaxation of exchange controls

The Minister of finance has today announced that exchange controls have been relaxed by scrapping limits on new outward foreign direct investments by South African Corporates. SA Corporates will be allowed to retain foreign dividends offshore and foreign dividends repatriated to South Africa after 26 Oct 2004 may be transferred offshore again at any time for any purpose .

Carnita Low
Rand Merchant Bank
Ph: +27 (11) 269-9743
Fax:+27 (11) 269-9597
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Publisher: Rand Merchant Bank
Source: Rand Merchant Bank

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