Processing Time in South Africa : 30-40 days
Processing Time if lodged abroad: 30 days
Government Fee in South Africa for Extension: R1520
New Submission Centre Fee ( in SA ): R1350
Government Fee abroad: Dependent on Currency
This type of visa is suitable for those conducting business in South Africa that may wish to obtain permanent residency. In setting up a South African business, one may either establish a new business or buy an existing business or share in that business.
In order to apply for a South African Business Visa, there are two main requirements the applicant must meet:
The applicant will also need to present a complete business plan, and have the financials assessed by a qualified Chartered Accountant, as well as registering the business with the South African Revenue Services.
With regards to the investment amount, this can be broken down into R 500,000 capital contributions with the first contribution being made at the start and the remaining balance to be transferred into the country over a 12-month period and invested into the business. The contributions can also be in the form of equipment.
If the nature of one’s business falls under the category of the following industries, a capital waver can be requesting, allowing for a reduction in the required investment amount. These industries are: