SARS FIA Summary

In order to comply with SARS’ and SARB’s foreign monetary policies, to send out more than R1m in a calendar year up to R11m, you’ll need to apply for a Foreign Investment Allowance (FIA) with SARS eFiling. For more information about this, please see Lumina’s documentation on Your Sending Limits (SDA and FIA) and SARB’s Exchange Controls.

You can apply for any amount here, up to R10m with the requirements as follows:

1. You need to be able to access your SARS eFiling account and be registered as an individual taxpayer.
2. Have no taxes outstanding.
3. You need evidence of the amount that you’re applying for and it needs to be liquid.
4. You need to apply for a different amount each time.

In order to do this, you’ll need to be able to log in to your SARS eFiling account – the details of how to set up eFiling are outside the scope of this document.

High level steps:

1. Request documents
2. Gather your statements
3. Complete the templates
4. Activate SARS Tax Compliance System
5. Create the request
6. Wait for 15 minutes
7. Upload documents
8. Wait for up to 3 weeks
9. Download the approval