LETTER OF UNDERTAKING AND DECLARATION OF SOUTH AFRICAN RESIDENTS by GeAb2hXa

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									LETTER OF UNDERTAKING AND DECLARATION OF SOUTH AFRICAN
RESIDENTS TEMPORARILY ABROAD




(Date)

The General Manager
The South African Reserve Bank
Exchange Control Department
370 Church Street
Pretoria
0001



Dear Sir,


I advise that I am a permanent resident in South Africa. My ID number is:

…………………………………………………………………………………………………..

My full names are:…………………………………………………………………………….

I departed South African on:………………………………………………………………… and

currently reside in…………………………………………………………………………………

I declare that any and all goods exported on departure from South Africa, together with all
accumulated foreign assets, where such foreign assets are acquired with funds transferred
from the Republic, or the sale proceeds thereof, will be repatriated on resumption of residency
in the Republic; and

My South African credit and / or debit cards will not be utilised whilst I am temporarily abroad.

However, I understand that, in terms of a specific Authority granted by the South African
Reserve Bank, I may utilise my Investec Private Bank Card abroad, provided that any foreign
spend is met with a concomitant inflow of foreign currency from my foreign income earned
whilst I am abroad, on a monthly basis.

I understand that all of the above does not apply to the extent of Travel Allowances utilised in
the year that I depart South Africa and furthermore excludes any capital value exited through
my Foreign Investment Allowance, and the proceeds of any investment acquired through the
use of either of these allowances, in accordance with the Exchange Control Rulings.

Yours faithfully,




…………………………………………..(SIGNATURE)



…………………………………………..(PRINT NAME)
Please note: As a South African who is temporarily abroad, you can take advantage of the “electronic
option only” account structure. This option incurs a lower account charge but still provides you with
access to all the Private bank account benefits with the exception of using the credit card which would
be blocked. Please contact your consultant for this benefit.

								
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