Owner-managed importer uses ForexPeople to save money and time
Andy imports laminate flooring from the East and Europe. He has developed a close relationship with ForexPeople over the past eight years. Apart from the sharp rates, low flat bank fees and help with the admin side of his forex, the service he really values is getting called proactively when the rates are in his favour. This means he can focus on his business without having to keep a constant eye on the exchange rates.
Conveyancing Attorney uses ForexPeople to expedite non-resident property purchases
Charlotte is a conveyancing attorney on the eastern seaboard of Cape Town. She regularly deals with foreigners buying property in Cape Town. Charlotte relies on ForexPeople to give excellent rates, comply with Reserve Bank regulations, and prevent forex-related delays in the conveyancing process – and as importantly, to make sure that funds can be easily repatriated when the property is sold in the future.
Wealth Manager uses ForexPeople to help clients move funds offshore efficiently
Michael has a built a large portfolio of high net-worth individuals who regularly move funds into offshore investments. Neither he nor his clients want the frustration of inefficient processes, poor customer service and toing and froing with documentary requirements. ForexPeople handle the tax clearance application and funds transfer process quickly and efficiently at sharp exchange rates and low fixed bank fees.
Chemical importer manages currency risk using simple hedging
Alex imports chemicals for stock sales and tender fulfilment. Although he has great payment terms from his offshore suppliers, he has to be extra careful to manage his currency risk due to tight gross profit margins. ForexPeople has helped put in place simple policies that effectively lock down his currency risk.
Attorneys use ForexPeople for distribution of funds from a trust or estate
These types of transactions are complicated and there are several exchange control rules that need to be adhered to. ForexPeople have the expertise to assist, facilitate and conclude these forex transactions with the least possible hassles. The clients also have the benefit of enjoying a better rate than what they would get from their banks.
Family uses ForexPeople to transfer their Foreign Investment Allowance
Graham and family decided to move some of their funds offshore into a newly set up trust. ForexPeople compiled the required documents for signing, obtained the SARS Tax Clearance and had the funds in the offshore account – all inside 10 days.
Sale of SA property by a non-resident
Eddie, who lives in Tokyo, sold his SA property and found that it wasn’t so easy to repatriate his money – the time zones and language barriers didn’t help. The documentary requirements to process a forex transfer of this nature is quite intensive. ForexPeople understood the process and even contacted the necessary local parties to obtain information and documentation to assist Eddie. All the SA Reserve Bank requirements were met and they facilitated a smooth repatriation process. As a bonus, Eddie got a sharp rate and fees totalled R350.
SA expat uses ForexPeople to convert his earnings to Rand a good rate
Kevin consults across the world and is paid in a variety of currencies. He uses ForexPeople to convert his Forex earnings to Rand at a competitive rate and at a low fixed bank fee – despite the fact that the amounts are not that large. The best thing is how quickly he is informed of the arrival of his funds and the speed with which they reach his local account – something he always had issues with when he was using his bank.