Rand roulette: When is the right time to take your money offshore?

Motheo Khoaripe (in for CapeTalk and 702's Stephen Grootes) speaks with Patrick Mathidi of Aluwani Capital Partners, and Gary Booysen of Rand Swiss.

Listen below:

Taking money offshore can be a smart way to diversify and protect your wealth, especially when the rand is volatile.

For many South Africans, it’s an attractive option for long-term growth.

But timing is everything.

So when is the right moment to make the move, and how easy is it really?

Booysen says these days it's quite simple, but warns that you have to obey the rules.

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"You've got up to R1 million single discretionary allowance."

- Gary Booysen, Portfolio Manager - Rand Swiss

So if you're thinking bigger, then you'll need to apply for the Authorised International Transfer.

That's the formal process that allows South Africans to legally transfer money out of the country, to invest, save, or spend abroad.

"That'll give you another R10 million."

- Gary Booysen, Portfolio Manager - Rand Swiss

"SARS reserves around 21 days to get that clearance sorted out, so from an administration point of view, it's actually become quite easy to get them approved."

- Gary Booysen, Portfolio Manager - Rand Swiss

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But if you think you need to be rolling in the millions to benefit from offshore investments, think again.

"It's not really a matter of the value, and there are services that can do very small amounts and still build an offshore portfolio for you.

- Gary Booysen, Portfolio Manager - Rand Swiss

"You should look at it in the context of your overall investment strategy and your overall portfolio."

- Gary Booysen, Portfolio Manager - Rand Swiss

Scroll up to audio player to listen to the full conversation.