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Non-residents (general)

Definition: Normal place of residence outside South Africa

Non-residents may purchase property in South Africa.

However, if they require financial assistance through a loan or bond amount, they have to apply to the Reserve Bank, which considers application for these requests. The loan or bond amount for non-residents may not exceed 50% of the value of the property. The application to the Reserve Bank can be handled by any of the commercial banks through which the individual wishes to deal.
Proof must be provided that the funds physically came into South Africa, which can be done by the attorneys involved in the property transfer. The title deeds on the property will be endorsed as "Non-res".

South African residents temporarily abroad

Definition: South African residents who temporarily reside abroad are allocated normal lending facilities and should not be considered non-residents. Exchange Control regulations do not apply.
Loan Amount: 100%

Credit requirements: Confirmation of income / affordability: Clarify the source of funding to meet the loan repayments.
Copy of lease agreement if the property is to be rented out.

Companies / Close Corporations / Trusts

Definition: Also known as "Affected Persons". Where loan applications are received in the name of a Company, Close Corporation or Trust and 75% or more of its capital, assets or earnings are directly or indirectly vested in, or controlled by or on behalf a person not residing in South Africa or benefits any person not residing in South Africa, these applications are to be submitted by the International Business Centre.

Documents that need to be submitted:

	MP79(a) form – Reserve Bank form
	Annual audited financial statements
	Pro-forma balance sheet