Foreign Currency Exchange Service

Foreign currency transfers and tax migrations

Unleash the power of global transactions with a seamless foreign currency exchange partner

We understand the importance of fast, reliable, and secure currency transfers. Whether you are traveling abroad, making international payments, or looking to invest in foreign markets, our comprehensive range of currency exchange services is designed to meet all your needs.

Our currency conversion services are designed to empower individuals and businesses alike in navigating the complexities of global transactions. With competitive rates, personalized service, and a commitment to exceptional customer support, we strive to deliver seamless and secure currency exchange solutions. 

Personal Foreign Currency Exchange Service

Seamless currency conversions & competitive rates

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If you need to send money to family or friends overseas or make payments for goods and services, our personal transfer service is the ideal solution. Enjoy the convenience of competitive exchange rates, low fees, and swift transfers, ensuring that your money reaches its intended destination in a timely manner.

With our preferential pricing terms, clients typically save between 1% and 3% on the retail exchange rates. That’s a potential saving of between R10,000 and R30,000 per R1 million transferred (or currency equivalent). At New Heights Finance, we strive to provide you with the best rates in the market, ensuring that your money goes further and you can maximize your savings.

In addition to our competitive rates, we offer specialist advice and assistance with the South African Reserve Bank’s annual allowances for individuals and any related foreign currency exchange control matters. Our team of experts will guide you through the intricacies of exchange control regulations and handle the tricky process of obtaining your Foreign Tax Clearance Certificate from SARS, all at no additional cost to you.

Enjoy the convenience of simple, secure, online registration that lets you book favorable foreign exchange rates whenever needed. Our user-friendly platform allows you to manage your transactions and access our services conveniently and easily. You’ll also receive rate watch alerts and automatic market orders, ensuring that you never miss out on a favorable target rate.

We understand the importance of timing and planning when it comes to currency exchange. With our preferential exchange rates, careful timing, and clever planning, you can make significant savings, enabling your money to go further.

We are committed to providing you with the best possible value. That’s why we offer our ‘Better Price Promise.’ If you receive a live comparative quote from another provider, we will improve it, ensuring that you always enjoy a savings when choosing us.

Furthermore, we offer individual interest-bearing foreign currency and local cash management accounts, giving you more control over the timing of your transactions. With these accounts, your money keeps working for you while you have the flexibility to execute your transactions at optimal times.

Tax Migration

Hassle-free tax emigration assistance when relocating 

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We offer specialized tax migration services for clients who are emigrating from South Africa to ensure a smooth and efficient process. We understand that tax considerations are crucial when relocating to another country, and our team of experts is well-versed in the complexities of tax emigration.

When you choose us for your tax migration needs, we provide comprehensive assistance and guidance throughout the entire process. Our experienced professionals will help you navigate the necessary documentation, including the required supporting documents for emigration. We can also assist with the declaration form and relevant supporting documentation submission to SARS through eFiling or SOQS.

One of the key aspects of tax emigration is the exit tax, also known as the “exit tax.” When you declare yourself a non-tax resident, you may be deemed to have sold your assets (excluding immovable property in South Africa and your RA) to your foreign self, resulting in a CGT amount becoming immediately due. Our experts will ensure that you understand and comply with these tax obligations, providing you with peace of mind during this transition.

Additionally, our partners can assist with obtaining your Foreign Tax Clearance Certificate from SARS at no additional cost. We take care of the intricate process, allowing you to focus on your emigration plans without any unnecessary stress or hassle.

With our tax migration services, you can trust our foreign currency partners to handle the intricacies of the tax process while ensuring that your financial interests are protected. Contact us today to learn more about our tax migration services and how we can assist you in making your emigration journey smoother and more efficient.


Business Currency Conversion Service

Breaking down barriers & amplifying opportunities

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New Heights Finance understands the unique currency exchange needs of businesses engaged in international trade or operations. Our business foreign currency conversion service offers seamless solutions to streamline your transactions and optimize your forex needs.

Whether you need to pay suppliers in different currencies, repatriate earnings from overseas markets, or manage foreign currency accounts, New Heights Finance has the expertise and resources to assist you. Our dedicated team of Personal FX Dealers will work closely with your business to understand your specific requirements and provide tailored solutions.

With competitive exchange rates, low fees, and swift transfers, our business transfer service ensures that your money reaches its intended recipients promptly and efficiently. We understand the importance of timely payments in the business world and strive to make your currency conversions seamless and hassle-free.

Our experts are always available to provide you with expert advice on currency markets and trends. We understand that currency fluctuations can significantly impact your bottom line, and our dealers are here to guide you, helping you make informed choices and minimize risks.

At New Heights Finance, we offer a range of foreign exchange solutions to cater to diverse business requirements. From spot transactions to forward contracts and options, our services are flexible and adaptable, ensuring that you have access to the right tools for your specific currency exchange needs. We can help you mitigate currency risk, plan ahead, and optimize your foreign exchange activities.

Benefits of Expert-Led Foreign Exchange

Competitive Exchange Rates

We offer competitive exchange rates, ensuring that clients get the best value for their money when converting currencies. This is especially beneficial for businesses and individuals involved in international trade or travel, as it helps maximize their purchasing power and minimize costs.

Fast and Efficient Transactions

Quickly and securely convert your funds without unnecessary delays. This speed and efficiency are particularly advantageous when there is a need for immediate currency conversion, such as for time-sensitive business transactions or emergency situations.

Range of Currency Options

Exchange currencies based on your specific needs. This diversity benefits businesses operating in multiple international markets or individuals traveling to different countries, as it provides flexibility and convenience in managing their foreign exchange requirements.

Personalized Service

Receive tailored assistance and guidance throughout the currency exchange process. This personalized approach allows for a better understanding of individual requirements, preferences, and risk tolerance, resulting in customized solutions that meet each client’s unique needs.

Expert Market Insights

This information is crucial for making informed decisions regarding currency exchange, as it helps clients understand market trends, potential risks, and opportunities. Clients can optimize their foreign exchange strategies and make more profitable transactions by staying updated on the latest market developments.

Frequently asked questions


What is the purpose of exchange controls in South Africa?

Exchange controls aim to prevent the loss of foreign currency resources through the transfer abroad of real or financial assets. They are implemented to regulate and manage the flow of foreign currencies in and out of the country, ensuring stability in the economy and preserving foreign exchange reserves.

Are there any restrictions on taking excess currency when traveling abroad from South Africa?

Yes, according to the South African Reserve Bank (SARB), any amount in excess of R25,000 or any foreign currency convertible to Rand in excess of R25,000 is considered excess currency. Travelers must obtain written permission from the SARB before entering or leaving South Africa with excess currency.

How can I get the best exchange rates for converting my currency?

To get the best exchange rates, comparing rates offered by different banks or currency exchange providers is advisable. Additionally, keeping an eye on market trends and timing your currency conversion when rates are favorable can help maximize the value of your money.


Is foreign employment income exempt from tax in South Africa?

Yes, certain conditions apply, but foreign employment income can be exempt from tax in South Africa. The exemption is available if you meet the requirements outlined by the South African Revenue Service (SARS) and if you were outside of South Africa for at least 183 days during a 12-month period, including a continuous period of at least 60 days.


Can I migrate my tax residency from South Africa to another country?

Yes, it is possible to migrate your tax residency from South Africa to another country. However, this process involves various legal and tax considerations. It is recommended to consult with a tax professional or seek advice from SARS to understand the requirements and implications of tax migration.

How are average exchange rates determined in South Africa?

The South African Reserve Bank (SARB) determines the weighted average exchange rates based on foreign exchange transactions conducted by commercial banks. These rates are used for various purposes, including valuing foreign assets and liabilities, calculating taxable income, and converting foreign income into Rand for tax purposes.

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