 |
|
|||||
|
 |
||
 |
||
 |
||
|
A retired permit, visa, as a means of immigration to South Africa, is granted to immigrants wishing to spend their retirement years in South Africa. For immigration to South Africa, under the category of a retired permit, the criteria is based on premise that the immigrant is not looking to work, study or carry out an own business.Retired Permit / Visa - CriteriaAs with all permit applications and visa applications associated with immigration to South Africa, there is a number of criteria that must be satisfied, below are some of the main points:
Working out whether you meet the qualifying criteria can be quite complex as only certain types of income and capital are allowable. To ensure you meet the qualifying criteria please use one of the links below:
Retired Permit / Visa - Temporary ResidencyApplications for retired permits under temporary residency can be made for a period of 4 years only. After the 4 years they can be further extended by making an application to home affairs and proving that the criteria is still being met.As a retired persons permit the one of the main criteria is concerning the prospective immigrant’s financial status and proving they have sufficient means to support themselves. For temporary residency each applicant must demonstrate that they have: ZAR 20,000 per month, per applicant income or sufficient capital to equate to this, or a combination of both. As examples: Retired permit / visa based on income alone A married couple with income of R40,000 per month from actual property rental income and pension. The criteria would be met and the couple could apply for the 4 years under the retired persons permit category. They could also apply for permanent residency – for more details see the below section Retired Permit/ Visa permanent residency. Retired permit / visa based on capital alone A married couple with no income, but ZAR 6 million in investments. For each month the couple apply for a temporary retired person’s permit they would need to show capital of ZAR 40,000 (ZAR 20,000 each). Therefore the 4 year permit equation would be 48 (months) times ZAR 40,000 (required monthly income). A figure of ZAR 1,920,000 would be needed meaning the couple qualify easily. Retired permit/ visa based on a combination of income and capital A single person with ZAR 10,000 in monthly income and ZAR 3 million capital. The retired permit specifies a monthly income of ZAR 20,000 per person so in this case the applicant is ZAR 10,000 per month short. This shortfall can be made up from the available capital of ZAR 3 million. In order to apply for a 4 year temporary retired persons permit, capital of 48 (months) times ZAR 10,000 would be needed. A total of ZAR 480,000. The individual would therefore meet the criteria for a 4 year temporary retired permit easily. Retired Permit / Visa - Permanent ResidencyPermanent residency applications under the retired permit category can be made without the need to first obtain temporary residency, but in practice most immigrants will apply for both (where they meet the qualifying criteria) due to the long processing times of home affairs, approximately 24 months.The financial criteria for retired permits under the permanent category are similar to that of temporary in so much that ZAR 20,000 monthly income needs to be proved by one applicant. However this needs to be life-long guaranteed income and not capital based. Other types of permits and visa are for Immigration to South Africa. Some of our other services
|