What does it take to get a remittance licence in South Africa?
To hold a remittance licence in South Africa, you need the Authorised Dealer in foreign exchange with Limited Authority - Category 3 licence from South African Reserve Bank. Published minimum capital: ZAR 5,000,000 (R5 million) minimum unimpaired capital — in place before commencing and maintained for the lifetime of operations. 13 entities currently hold a remittance licence in South Africa. Full requirements — minimum capital, local presence, timeline, local ownership, fees and ongoing obligations — are set out below in each instrument's own words, with source and date; amounts are in the statute's own currency.
“Cross-border remittance” here is the normalized activity: Provide inbound/outbound cross-border money transfer / remittance services under a dedicated licence, approval or registration (IMTO/MRP/MTSP/ADLA-type).
Activity id (as used by the Afriset MCP): fintech:REMITTANCE_XBORDER
Authorised Dealer in foreign exchange with Limited Authority - Category 3
South African Reserve Bank| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | ZAR 5,000,000 (R5 million) minimum unimpaired capital — in place before commencing and maintained for the lifetime of operations. Verbatim“…the minimum unimpaired capital requirement of R2 million … for a category one ADLA, R3 million for a category two ADLA, R5 million for a category three ADLA and R8 million for a category four ADLA … An ADLA shall during the lifetime of its operations maintain a minimum unimpaired capital fund … (cc) Category Three: R5 million.” | SARB FinSurv — Currency and Exchanges Manual for ADLAs (v1.86; cover 2026-05-25) | 2026-05-25 |
| Local presence / incorporation | Required — limited-liability company incorporated in South Africa under the Companies Act 71 of 2008 (CIPC); an approved physical place of business. Verbatim“a certified copy of the Notice of Incorporation (Form CoR14.1) issued by the CIPC, as proof of the registration of the limited liability company in South Africa under the Companies Act, 2008 (Act No. 71 of 2008) … finalisation and approval of the proposed place of business.” | SARB FinSurv — Currency and Exchanges Manual for ADLAs (v1.86; cover 2026-05-25) | 2026-05-25 |
| Timeline | No fixed processing SLA. Conditions of a conditional approval must be met within 6 months or it may lapse; granted authority not availed of within 6 months is regarded as cancelled. Verbatim“…must be met within a period of six months from the date of the conditional approval … failing which such approval may be withdrawn … regarded as cancelled if the applicants concerned do not avail thereof within a period of six months.” | SARB FinSurv — Currency and Exchanges Manual for ADLAs (v1.86; cover 2026-05-25) | 2026-05-25 |
| Local ownership | No such requirement: No local-shareholding %. Ownership control via a fit-and-proper test on every shareholder/director/beneficial owner (FinSurv can veto), not a nationality/percentage quota. | SARB FinSurv — Currency and Exchanges Manual for ADLAs (v1.86; cover 2026-05-25) | 2026-05-25 |
| Fees | No such requirement: No application/registration/membership fee specified in the Manual — the gate is the R5m capital, not a fee. | SARB FinSurv — Currency and Exchanges Manual for ADLAs (v1.86; cover 2026-05-25) | 2026-05-25 |
| Ongoing obligations | Maintain R5m unimpaired capital (segregated, unencumbered, not ceded/pledged); six-monthly (Jan/Jul) bank statements + MD/CEO confirmation; segregated client vs business accounts, no commingling, client transactions completed within 2 working days; full FIC Act AML/CFT programme (RMCP, CDD, STR/CTR, PEP); FinSurv cross-border reporting + annual audited financials within 3 months of year-end; fit-and-proper senior exchange-control + AML officers; keep records 5 years; transaction limits (≤ R5,000/txn/day, ≤ R25,000/applicant/month for established relationships). Verbatim“The unimpaired capital must remain unencumbered and may not be ceded, pledged or used as collateral … All client transactions must be completed within a period of two working days … transactions are limited to R5 000 per transaction per day within a limit of R25 000 per applicant per calendar month … a Risk Management and Compliance Programme … as required in terms of section 42 of the FIC Act.” | SARB FinSurv — Currency and Exchanges Manual for ADLAs (v1.86; cover 2026-05-25) | 2026-05-25 |
Requirements as published in the cited instruments — not legal or compliance advice. Capital and fees are shown in the currency the statute itself uses. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.
Who already holds this licence?
13 entities are on the South African Reserve Bank register under the Authorised Dealer in foreign exchange with Limited Authority - Category 3 category — view the register .
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