” there is a law in RSA, re the amount of one’s own money that is allowed to be taken out of the country and it’s not a large amount. “
The amounts have increased considerably in recent years. At the moment, the annual amount is ZAR10,000,000 plus the ZAR1,000,000 travel allowance per adult, with lesser amounts for under 18s.
Just one enormous problem with this - the average South Africa would not be able to come up with ZAR11,000,000 once off, let alone annually, even if they sold their houses and cashed in their retirement savings. That would also covert to under USD700,000.
It's also still quite a battle and filled with loads of red tape, to get money out of a bank account, once one has left, but still has money there.
I thought there were laws on the books regarding businesses as well. Didn’t the finance director just institute some action against removing funds?