South African retirement visas are extended to foreign immigrants for the purposes of retirement. It is therefore understood that you are not looking to work, study or do business while in South African.
As such, the main South African retirement visa requirements are financial in nature, as it is necessary to show that you are financially stable and can support yourself during your stay.
Criteria for a temporary South African retirement visa
Each applicant, both the main applicant and their spouse or life partner, must be able to prove a monthly income of ZAR37 000 for the four years that the visa is valid. The total amount required is ZAR1 776 000 (ZAR37 000/month x 48 months).
To prove the required income, applicants may use any of the following assets or a combination of them:
- Sufficient capital
- Pension income
- Actual rental income
- Investment income
Examples of how couples could use their assets to show that they meet the financial requirements for a South African retirement visa:
Retirement visa based on capital alone:
A foreign married couple with no monthly incomes, but with ZAR1 776 000 net capital.
Retirement visa based on income alone:
A foreign married couple with an income of ZAR37 000 per month from appropriate property rental income or pension. The couple could also apply for permanent residency provided it can be proved that the rental income or pension used is guaranteed for life.
Retirement visa based on a combination of capital and monthly income:
If a foreign married couple can only prove part of the required ZAR37 000 per month from monthly income, the rest can be proven in the form of capital. For instance, if ZAR20 000 is available as monthly income, then ZAR17 000 must be available per month in capital.
Criteria for a permanent South African retirement visa
According to the South African retirement visa requirements for permanent residency, the applicant and their spouse or life partner must be able to prove a life-long guaranteed income of ZAR37 000 a month.
Think you can’t meet the South African retirement visa requirements? It is not the end of the road. If you cannot prove an income, you could still apply for a financially independent visa. This is a permanent visa and lets you live in South Africa with many of the same rights and privileges as a South African citizen.
If any of the financial requirements for a South African retirement visa is unclear, call Intergate Immigration to speak to one of our experienced client managers. You can reach us at +27 (0) 21 424 2460.
Alternatively, complete our free assessment or request a call back and we will contact you. If you are eligible for a retirement visa, Intergate Immigration can help you start the process of retiring to South Africa. We have done the same for thousands of individuals, families and corporates since our inception in 2005.
For general information on South African retirement visas, have a look at our retirement visa page.