Investment Visa And Permits
South Africa is known to be an attractive and desirable destination for foreign nationals because for its beautiful landscape, cultural diversity and better cost of living. The Department of Home Affairs has made available a few categories to invite foreign nationals to invest in the country. These categories are:
South Africa and its Mother City, Cape Town, has been voted the best country and city in the world by the Telegraph Travel Awards 2023. With affordable accommodation, quality health care and overall better cost and quality of living, there are a few categories available to invite foreign nationals to be able to reside, retire and/or invest in the country.
Retirement Visa with Permanent Residency
A retirement visa for South Africa, technically known as a ‘retired person’s visa’, enables a foreign national to retire and reside in South Africa, provided that s/he can provide proof of income of at least R37 000.00 per month in the form of pension, retirement annuity, investments, assets and/or cash in the bank.
This visa may be issued for a period of four (4) years and is renewable in South Africa.
One may also apply for permanent residency in this category provided the proof of income can be shown for a lifetime.
Business Visa with Permanent Residency
A Business Visa allows a foreign national to establish a business in South Africa or to invest in an existing business in South Africa, provided that the sector of business falls under those considered of national importance as determined by the Department of Trade and Industry. (DTIC). These are: Manufacturing, Advanced Manufacturing, Services, Resourced-based Industries, Energy (incl. Power Generation and Renewable Energy) and Infrastructure.
Inter-alia, DTIC is required to provide a recommendation that forms part of the business visa application, but one may apply for a waiver to the Department of Home Affairs to waive the DTIC requirement. This visa may be issued for a period of three (3) years and is renewable in South Africa. One may also apply for permanent residency in this category provided they comply with the prescribed requirements.
Financial Independence Permanent Residence Permit
The Financial Independence Permanent Residence Permit is a permanent solution available to foreign nationals who can prove that s/he has a net worth of at least R12 million and that s/he is willing to pay R120 000.00 to the Department of Home Affairs.
This permit, being a permanent residency permit, is valid for a lifetime.