What you'll need
South African citizens or residents
As the parent or legal guardian, you must provide:
- Your valid South African ID document or passport
As well as one of the following:
- Your child’s birth certificate (your name, surname and ID number must be the same as on your ID document)
- A court order, guardian appointment letter or curator letter (your name, surname and ID number must be the same as on your ID document)
Foreign nationals
As the parent or legal guardian, you must provide one of the following:
- Your valid foreign passport and permanent residence permit
- Your valid temporary work permit and proof of income (salary slip or employment letter)
As well as:
- Your child’s valid foreign passport and permanent residence permit
- Your child’s unabridged birth certificate or equivalent official document confirming your full name and surname as the parent or legal guardian
Note: No proof of residence is needed, but you may be asked for supporting documents.
How to open a tax-free savings account for your child
- Go to your nearest branch with your child
- Make sure you have all the required documents with you
- A consultant will open the account – no need to fill in any paperwork
Tax-free savings contribution limits
- The limit per financial year (1 March – 28 February) is R36 000
- The lifetime contribution limit is R500 000
Note: Any deposit that you make into their account will count toward their limit.
