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required to export goods from South Africa > Exchange Control Forms . |
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Exchange
Control Forms
Form NEP
South Africa is one of the few countries that still applies fairly strict exchange control regulations to the movement of foreign currency in and out of the country. In accordance with these regulations, the exporter is expected to complete Form NEP (in instances where no foreign exchange is generated - NEP stands for No Exchange Proceeds). This document is referred to asan exchange control declaration. The form is to be completed in duplicate and the original must be attested by the exporter's commercial bank; if this is not done, the form will not be accepted by the Customs authority. The bank will keep a copy, while the original and all additional copies, accompanied by the Customs Declaration Form (SAD 500), must be submitted to the Customs authority at the time of export. Customs will keep the original, returning additional copies to the exporter.
With effect from 01 January 2011 you no longer need to have your F178 attested. What remains is for you to complete field 28 of the SAD500 form, and list the UCR number.
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Form E
This is a South African Reserve Bank form required to be completed by exporters once they have sold their goods abroad and have received payment for these goods. Form E essentially underpins the sale of the foreign currency received by the exporter, to the local commercial bank. The form needs to be completed within 30 days of receipt of the foreign currency by the exporter. Form E need only be completed if the amount is greater than R50 000. The details of the corresponding Form F178 that the exporter completed at the start of the transaction must be reflected in Form E.
Forms for Exchange Control
Form
MP79(a) - Exchange Control Questionnaire. Exemption from Reg 3(1)e and/or 3(1)(f).
Form NEP - Declaration i.r.o. Goods leaving the (Common Monetary Area - CMA) without accrual of foreign exchange.
Form E - Repatriation of foreign exchange received from abroad form
Exchange Control Manual - The South African Reserve Bank provides a complete downloadable Exchange Control Manual.
Procedures for import/export transactions - The Exchange Control Department of the South African Reserve Bank provides procedures for the import and export transactions of corporates. PDF document.
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