About South Africa Citizenship and Residency

South Africa does not have an Investor Permit but there is an alternative solution for those seeking permanent residency in South Africa which is a Financially Independent Permit. A Financially Independent Permit in South Africa is for individuals who would like to obtain Permanent Residency status in South Africa to set up their own business, work, study, retire, or otherwise reside in South Africa. This permit gives you all the rights of a South African with the exception to vote. Importantly, this permit also does not require you to reside in the country from day one.

The Financially Independent Permanent Residency Permit is aimed at high net worth individuals of any age and nationality. The high net worth level terms are very achievable for many with a stronger currency. Applicants must prove a net worth of ZAR 12 million (approximately USD700,000) in cash. Applicants will be required to pay a fee of ZAR 120,000 (approximately USD7,000) to the Department of Home Affairs before the application is finalized. Similar to a donation that is popular with other Investor Programs.

 

Facts on Financially Independent Permits

• A permanent resident can obtain a South African identity book endorsed as ”non-citizen”.
• The status of a permanent resident does not affect the holder’s citizenship in their home country.
• You will be eligible for citizenship after 10 years, or sooner with sufficient motivation.
• Permanent Residence under Financial Independence does not contain additional certain conditions.
• The Permanent Resident process takes approximately 4-10 months to obtain.
• There is no requirement to reside in South Africa immediately upon issuance of the Permit.
• Traveling in and out of South Africa becomes much easier and the need for extending visas becomes a thing of the past.

 

PROS OF FINANCIALLY INDEPENDENT PERMIT

• It is not necessary for the immigrant to permanently reside in South Africa.
• Once the visa is obtained, the immigrants must simply enter South Africa at least once every 3 years.
• Apply for a Non-Citizen Identity Book.

 

CONS OF FINANCIALLY INDEPENDENT PERMIT

• No stamp in your passport or permit.
• No new Permanent Residence Certificate will be issued if lost. Only a confirmation letter will be issued as a replacement.
• The financially independent visa has a usual minimum processing time of 8 months.

 

 

Benefits Of South Africa Residency By Investment Program

• Reside, work, study, and start a business in South Africa
• Grants permanent residence status and the possibility to apply for the Non-Citizen Identity Book
• No age requirement and open to all nationalities
• No investment or residency required
• Valid indefinitely
• Dependents can be included; spouse, children up to 25 if full-time student, children between 18 and 25 if financially dependent on parents, and any age if medical dependent due to handicap or such but must be confirmed by the Doctors.
• South Africa is a business hub on the African continent with a fast-paced real estate market, exceptional private healthcare, and a developed tourism industry.
• Application can be submitted from abroad or from South Africa.

 

 

South Africa Residency Requirements And Qualifications

דרישות

• Proof of the prescribed minimum net worth of at least ZAR 12,000,000
• Proof of identification
• Undergo a medical examination
• Provide original police clearance certificate
• Pay an application fee of ZAR 120,000 directly to the Director General upon approval of the application
• Once the application is granted, the applicant must enter South Africa at least once every 3 years

 

 

שלבים וציר זמן

שלב 1: Determine the type of South Africa Visa that you need to apply for.

שלב 2: Prepare required documents, applications with incomplete documents will not be accepted, if you filled any of the documents by hand please insure that it is in black ink only and that there are no erasures.

שלב 3: Submit your application.

שלב 4: Wait for the result of your South Africa Visa.

 

 

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Privacy World can also help you with incorporating your company in South Africa, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.

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