This page has all the information you need to know about how much is required in financial terms to retire to South Africa with either a retired permit or a financially independent permit.
South Africa, the rainbow nation, and holder of some of the worlds most iconic scenery, wildlife and natural attractions, also offers an extremely friendly environment for international retirees.
Firstly, and importantly, there are no age restrictions and applicants are not assessed according to their age in any way. So whether you are an early retiree or a late retiree, the criteria remains the same and there is no prejudice against your application.
Secondly, there are no requirements to buy property, bring in certain amounts of money or indeed invest into government or provincial schemes.
Of course there are the normal retired permit application requirements but the additional supporting documentation all revolves around your ability to financially support yourself.
Note: in the below we refer to a guaranteed income. Guaranteed income can be classified as:
- A pension;
- A guaranteed annuity income;
- Rental income;
- Or a similar vehicle with a life time guarantee.
Below we guide you through the most important question – how much to retire to South Africa
Applications to retire to South Africa can be made from 3 alternatives:
1. A temporary retirement permit
This can be issued by the Department of Home Affairs for a period of up to 4 years. Applicants must show either:
- An income which is guaranteed of R37,000 per month;
- An available lump sum of R37,000 X 48 months;
- A combination of the two.
2. A permanent retirement permit
The how much for permanent residency on a retired permit is purely income based. Once again it must be a guaranteed income for life and the how much remains at R37,000 per month for applicants.
3. A financially independent permit (permanent residency)
Applications for financially independent permits do not rely on any regular or guaranteed income. South Africa recognises that many individuals now shy away from traditional pension schemes and self invest for their retirement years. As such this option allows for a permit application to be made based on the individual’s net worth. It is also one of the only permit categories that leads straight to permanent residency.
The amount required is a net worth per applicant of R12 million rand. Where one applicant holds the required R12 million and the other does not, it would become a two step process whereby once the first applicant has obtained residency their spouse or partner can then apply for a partner permit (spousal or life partner).
Finding out if you meet the how much to retire in South Africa criteria
Intergate Immigration has assisted hundreds of retirees to obtain their retirement permit to settle and stay in South Africa. With over 50 staff able to communicate in 7 different languages (inclining German, French, Spanish, Dutch and English) we are confident we offer the most comprehensive permit and relocation service to South Africa for retirees.
You can verify that you meet the how much to retire to South Africa criteria free of charge and with no obligation by contacting us today.
Getting help with your visa or permit application
We welcome the opportunity to consult with you as to your eligibility for a visa /permit and answer any questions you may have with no obligation.
You can take our free one minute assessment here or request a call back for more information. Or simply call us at +27 (0)21 424 2460.
Alternatively you can fill out the below online enquiry form to contact us.