Financially Independent Visa
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Processing Time in South Africa: 8 months
Processing Time if lodged abroad: 8 months |
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Government Fee in South Africa for Extension: R1520
New Submission Centre Fee ( in SA ): 1350
Government Fee abroad: Dependent on Currency
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Application Form when submitting abroad: Click here
Application Form when submitting in SA: Done Online
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Financially Independent Visa
People wishing to permanently stay in South Africa may apply for permanent residency under the financial independent visa category. This is an attractive option for applicants who cannot demonstrate the financial requirements for a retirement visa, but can otherwise submit proof of available capital.
The financially independent visa allows a person to apply for permanent residency directly and therefore allowing the applicant to work, study or manage their own business in South Africa. Should you be planning on retiring in SA, especially in the beautiful city of Cape Town, you can start looking forward to living in the Second Best City on the entire planet.
Applicants will not be allowed to start up a business or be employed by anyone within South Africa whilst awaiting for their approval, unless they have received written consent from the Director of the Department of Home Affairs
Applicants who can demonstrate an amount of R37,000.00 per month can apply for a Retirement Visa. See Retirement Visa requirements.
How do I Qualify?
- Net Worth of R12 million
- R120,000.00 shall be paid to the Director General upon approval of the application
Processing Times and Visa Requirements
The financially independent visa will have a minimum processing time of 8 months.
The Requirements are:
Section 27(f) of the Act
- Proof that the applicant has the minimum net worth contemplated in regulation 23(11).
- Payment of R120,000.00 to the Director-General.