WHAT IS A SOUTH AFRICAN BUSINESS VISA?

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.

WHAT ARE THE QUALIFICATIONS FOR A BUSINESS VISA?

In order to apply for a South African Business Visa, there are two main requirements the applicant must meet:

1. You must employ at least 60% South African citizens of permanent residents.
2. R5 million must be invested into the business.

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.

WHAT IF ONE CANNOT OBTAIN THE REQUIRED INVESTMENT AMOUNT?

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:

1. Clothing and textiles
2. Agricultural processing
3. Biotechnology and Chemical works
4. Tourism
5. Crafts
6. Automotive works and Transport Operations
7. Metal and mineral processing
8. Information and communication technology