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What you need to know about the Retirement Visa for South Africa

What you need to know about the Retirement Visa for South Africa

What You Need To Know About The Retirement Visa For South Africa


If you are thinking of retiring soon, then South Africa welcomes you to a sight of beautiful cities and a host of activities to keep you occupied. New World Immigration can assist you in applying for your retirement visa if you are looking to permanently move to South Africa or on a seasonal basis. It is important to note that foreigners entering with a tourist visa into South Africa are no longer permitted to change their status from a tourist visa to a retirement visa whilst in South Africa. Any tourist wising to apply for a retirement visa must submit their application abroad in their country of residence.

Before you apply for a retirement visa, its best you discuss your options with a consultant to find out whether you are eligible to apply for this visa. Simply follow the link and submit your enquiry to find out whether you qualify for the retirement visa.

Free Assessment - Retirement Visa

The new requirement for a retirement visa is R 37,000.00 income a month and the retirement visa now allows the retiree to add a dependent spouse to accompany him/her in South Africa. There are currently no age restrictions for the retirement visa, but the holder of this temporary visa may not conduct any work activities, study or conduct their own business in South Africa. Income from pensions and property rental will be used to determine whether you meet the required amount.

How much cash do I need in order to qualify for the 4 year Retirement Visa?

To qualify for a one year visa, a retired couple would need to show an amount of R 444,000.00 in cash.

R 37,000.00 x 12 months = R 444,000.00

So a four year visa would equate to R 444,000.00 x 4 years = R 1, 776, 000.00.
Applying for a retirement visa through a lump sum of cash does not qualify the retiree for permanent residency and therefore has to apply for permanent residency under the category of financially independent, if they meet the requirements.

Can I apply for permanent residency through the retirement visa?

The criteria for permanent residency is R 37,000.00 per month but the monthly income needs to be lifelong guaranteed and not through a lump sum of cash.

 

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