If you’re like many foreigners looking to immigrate to South Africa, you might be finding it hard to meet the financial requirements of some visas. It doesn’t have to be the end of the road, because you could still apply for a financially independent visa for South Africa if you qualify.
The financially independent option isn’t often shared with foreign immigrants, as it carries a hefty acceptance fee – upon approval of the visa, you have to pay ZAR120 000 to the South African Department of Home Affairs.
Despite this fee, the financially independent visa is a great alternative to other visas, as it offers automatic permanent residence. It isn’t necessary to first apply for a temporary visa in order to obtain permanent residence.
As permanent residents, foreign immigrants can retire in South Africa or start a business, work or study in the country without the hassle of applying for special permits. They also enjoy many of the other rights and privileges that South African citizens are entitled to.
To see if you qualify for a financially independent visa, complete our free online assessment. If you’d prefer to talk to someone, call our Cape Town office on +27 (0) 21 424 2460 or our Johannesburg office on +27 (0)11 234 4275. You could also request a call back and we’ll contact you.
To find out more right now, read the information below. We’ve gathered all the basic need-to-know information about financially independent visas for you.
Who are considered to be financially independent?
Foreign immigrants who can prove a net worth of ZAR12 million are considered ‘financially independent’ by the South African government. The financially independent visa is based on the premise that the foreigner can support themselves without being a drain on the South African economy.
Are there any restrictions or obligations?
Aside from proving their net worth, there are no other obligations on a foreigner applying for a financially independent visa. It is also no 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.
Can my spouse or life partner join me?
A spouse or life partner would need to apply for a financially independent visa in their own capacity. If it is impossible to meet the financial requirements, a spousal or life partner visa could be applied for.
How do I apply for a financially independent visa?
Foreign immigrants must meet the financial requirements and submit all necessary documentation, as determined by the South African Department of Home Affairs.
While you can submit an application yourself, why don’t you let one of South Africa’s largest independent immigration company’s handle it for you? Intergate Immigration has processed more than 9 000 visa and visa applications since the company was founded in 2005.
Our entire team has been tested and registered with the Department of Home Affairs. Intergate Immigration has also been tested and measured against the standards as set out by the International Organization for Standardization. All criteria have been met year after year and as such Intergate Immigration has ISO 9001 certification.
You can reach our Cape Town office at +27 (0) 21 424 2460 and our Johannesburg office at +27 (0)11 234 4275. If you’d like us to call you, all you have to do is complete our assessment form or request a call back. One of our consultants will endeavour contact you within 24 hours.