iAfrica Share with your network! With an economy in the doldrums, South Africans are increasingly looking to make use of business and investment opportunities offshore. However, it’s important to note that as a South African resident, you are subject to certain exchange control regulations. And while these regulations have eased over the past few years, it’s crucial to understand the regulations at play in order to avoid landing in hot water with the South African Reserve Bank (SARB). First, it’s important to understand what is meant by “South African resident”. This refers to a resident for exchange control purposes, and differs from SARS’ definition of a tax resident in that it refers to any person (or a natural person or legal entity) that has taken up permanent residence, or is registered in South Africa.