Moving / Living Abroad
Travelling / Living Abroad
Whether you are travelling abroad for work or looking to relocate permanently, JP Blue can assist you in moving your money to where you need it most.
JP Blue Capital Consulting PTY LTD is a boutique foreign exchange intermediary which focusses on assisting cost conservative individuals with foreign exchange transactions. We are able to offer you preferential exchange rates*, hassle free administration, as well as excellent personalised service.
Each South African resident is entitled to a Single Discretionary Allowance (“SDA”) of one million Rand and a Foreign Investment Allowance (“FIA”) of ten million Rand, per calendar year. Whether you have sold your assets or have rental income, policy proceeds or savings which you would like moved offshore, JP Blue will assist you in opening a trading account, booking your currency exchange trade, completing the necessary reporting and settling the funds to your account offshore.
JP Blue will assist you with:
- Opening a trading account in your name;**
- All administration and reporting (completed on your behalf);
- Saving as much as 3% on your exchange rate;
- Opening an offshore account;***
- Targeting your desired rate;
- Applying for SARB approvals and tax clearance certificates on your behalf; and
- Opening Foreign Currency Accounts held locally
* The high volume of foreign currency trades that JP Blue manages allows us to negotiate preferential exchange rates with our preferred Authorised Dealers (‘Banks’) which we, in turn, pass onto you as our client.
**Account is held in your name and has a competitive credit interest rate per annum (linked). No minimum balance requirements, nor monthly service fees. You do not receive a debit card nor internet banking, JP Blue acts as bankers over the account.
*** Only possible where offshore banks allow this functionality and once travel VISA has been obtained. JP Blue will guide you through the process for offshore banks