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The short answer
South African residents need an Approval for International Transfer (AIT) from SARS to send more than the R1 million discretionary allowance in a calendar year; the SARB guidelines allow up to R10 million more with a SARS PIN. You apply on eFiling under TAX STATUS with proof of source of funds, a three-year assets statement and recent bank statements.
You need an Approval for International Transfer (AIT) from SARS when you are a South African resident sending more than the R1 million single discretionary allowance in a calendar year, under the foreign investment allowance, or when you have ceased South African tax residence and want to move funds out. The SARB's exchange control guidelines (version dated 7 January 2026) set the discretionary allowance at R1 million a year and a further R10 million a year with a SARS tax compliance PIN. You apply on SARS eFiling under the TAX STATUS menu, with supporting documents.
Who this applies to
This is the first thing for a Nigerian in South Africa to check, because the allowances are not for everyone.
- Residents. The SARB guidelines give the R1 million discretionary allowance to residents aged 18 and over with a green bar-coded or smart ID. A Nigerian who is a South African citizen or permanent resident with such an ID is in this group.
- Foreign nationals temporarily resident. A separate section of the guidelines covers them. It lets them transfer funds accumulated during their stay where the source is substantiated and reasonable compared with local income. The R1 million and R10 million allowances are not the route for them; their bank applies that section.
- People who have ceased tax residence. SARS's AIT page says the application also covers taxpayers who have ceased tax residency.
If you are not sure which group you fall into, ask your bank before you apply. Tax residence and exchange control residence are not always the same thing.
The two allowances
| Allowance | Amount per calendar year | What is needed |
|---|---|---|
| Single discretionary allowance | R1 million | No SARS approval; any legitimate purpose |
| Foreign investment allowance | Up to R10 million more | AIT approval and PIN from SARS |
| Above R10 million | No fixed cap stated | SARS asks for a Manual Letter of Compliance; SARB rules apply |
Figures from the SARB guidelines dated 7 January 2026 and SARS's supporting documents page updated 22 October 2026. Check that no later version has changed the amounts before you plan a transfer.
How to apply on eFiling
- Log in to SARS eFiling and open the TAX STATUS menu. SARS says the TCS system can also be reached through its online query system (SOQS).
- Choose the Approval International Transfer option and the type, such as foreign investment allowance.
- Enter the amount and details, and upload the supporting documents.
- When approved, SARS issues a PIN. Give it to your bank, which checks it before releasing the transfer.
- Send the payment through your bank within the approval's terms.
SARS's pages, as read in October 2026, did not state a processing time or how long a PIN remains valid. Plan for questions.
Supporting documents SARS asks for
- Material showing the source of the capital to be transferred.
- A statement of assets and liabilities for the previous three tax years.
- Bank statements issued no more than 14 days before the application, reflecting the amount.
- For a loan: the signed loan agreement and details of the lender's source of capital.
- For an inheritance: the final liquidation and distribution account, stamped and signed by the Master of the High Court.
- For a donation: a declaration of the donation (IT144) and proof of donations tax paid, where it applies.
- A power of attorney if someone else applies for you.
Common reasons for delay
- Bank statements older than 14 days on the date you submit. SARS's page is specific about this, so download fresh statements the day you apply.
- A statement of assets and liabilities that does not reconcile with your tax returns for the same years.
- No evidence of where the capital came from, such as the sale agreement for a property sold in South Africa.
- Outstanding tax returns, which affect your compliance status.
- A third party applying without the power of attorney SARS asks for.
Prepare the file before you start the online application; most delays come from a missing or outdated document rather than from the transfer itself.
Sending the money to Nigeria
Once approved, the payment goes through your bank like any other international payment, with a SARB reason code. Keep the approval, the PIN letter and the bank confirmation together; they are your record of where the money went and under which allowance.
Where Pryme fits
Pryme accounts hold USD, GBP and EUR as well as naira, which can help you keep foreign currency in one place once it leaves South Africa; see multicurrency accounts. Outside Nigeria, Pryme's activities are carried out through regulated partners. Read the R1 million discretionary allowance, using the foreign investment allowance for Nigeria and SARS compliance PINs.
Questions people ask
Do I need SARS approval to send over R1 million to Nigeria?
If you are a South African resident, yes: above the R1 million discretionary allowance you need an AIT approval and PIN, up to R10 million a year under the SARB guidelines.
Can a foreign national apply for the foreign investment allowance?
The allowances are for residents. Foreign nationals temporarily resident use a separate SARB section that looks at the source of funds.
What documents does SARS want for an AIT?
Proof of the source of funds, a statement of assets and liabilities for three years and bank statements no older than 14 days.
How long does an AIT take?
SARS's pages did not state a processing time when read in October 2026.
Sources
- South African Reserve Bank: Currency and Exchanges Guidelines for Individuals (7 Jan 2026) · accessed Oct 2026
- SARS: Manage your Tax Compliance Status · accessed Oct 2026
- SARS: Supporting documents for obtaining Approval International Transfers · accessed Oct 2026
- SARS: Supporting documents for Tax Compliance Status for foreign investment allowance · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.