You don’t have to own a yacht to invest overseas – offshore banking accounts have become increasingly accessible. Political risk and falling commodity prices have an impact on currency, says Deon de Klerk, head of Africa and international wealth and investment for Standard Bank Group. ‘When currencies depreciate, it is prudent to have other options, like offshore investment,’ he says. The bene ts include that you can preserve your wealth through offshore trusts that are in hard currency, and that a portion of your wealth is protected from volatile rand uctuations. ‘The national exchange control allows a person R10 million for investing offshore, and there are no restrictions to bring funds back into South Africa,’ Deon says. Speak to your bank about the option best for you, which could include a foreign currency account linked to your local account, or a full offshore banking account.