We can set up a CFC (Customer Foreign Currency) account should you wish to hold foreign currency. Please note that there are certain limitations on this due to South African Exchange Control regulations:
- Foreign currency purchased from the spot market can be held for a duration of 30 days.
- If your business receives foreign currency, you have the flexibility to hold it indefinitely in your CFC account.
- Individuals can enjoy the freedom of holding foreign currency indefinitely in a CFC Account.