Reading all the feedback here, as good and well intended as it may be, I feel that it's much like building a house with shady foundations. My recommendation is that Delusionsofgrandeur puts some priority on sorting out his basic financial issues first. Two issues are at play here. 1. The requirement for a local bank account with which to fund his investments. 2. The not yet mentioned requirements of the SARB Exchange Controls as he is a South African Resident temporarily abroad, and in terms of the law, still subject to these controls (draconian as they may be).
The reason I mention item 2 is that when he transfers funds from offshore for investments either through a family members account or directly via a broker/fund manager, the recipient of the funds needs to make a declaration to the SARB (via the receiving bank in SA) as to the origin, purpose and nature of the funds (for Balance of Payments purposes). One can see this then unfolding into a problem, as the funds are non resident sourced, but are initially owned by a resident. The could then raise eyebrows and result in an admin nightmare trying to set the record straight with SARB post the event if the issue is identified. This could cost Delusionsofgrandeur some hard earned cash in additional banking charges as the receiving bank in SA would have to be his liaison party with SARB, and they don't do this for free, or cheaply either.
The issue of FICA as mentioned in the posts is correct when you are resident in SA. However, banks hold numerous accounts of people who are not resident in SA, and although still subject to FICA and KYC regulations, the requirements for this differ somewhat due to the nature of the of the residency status of the account holder. Therefore it is possible for an account to be opened with a SA bank subject to the applicable rules.
My advice -
Approach any one of the many banks in SA stating your current situation and that you wish to open an account to transfer surplus income earned whilst temporary abroad, asking them what documentary evidence they require to arrange for the opening. Any bank who says they want proof of residence in SA (like a rates account, etc) don't know what they are talking about so ignore them. and try someone else. Although this may take time to finalise, at least once it's done it's done. Then you should have no issues with SARB, Exchange Controls, and transfering funds to your broker. Your foundation is in order and you can start to build on it. (You may have to provide this FICA/KYC info to a broker as well, dependant upon who you choose and their requirements.)
Just my 2 cents worth.
