Foreign investors wishing to set up a business or to invest in an existing business in South Africa have the option of applying for a business visa – temporary residence visa based on own business. This type of visa is issued for up to 3 years at a time and allows the holder to establish and operate their business in the Republic.
Business visa conditions
One of the most important conditions for obtaining a business visa is proof of the availability of funds to be invested. The Department of Home Affairs currently requires a minimum investment of ZAR 5 million, however this requirement can be reduced in specific circumstances.
The business idea must be approved by the Department of Trade and Industry, which will issue a positive or negative recommendation letter.
When setting up a business in South Africa, a foreigner is further required to undertake to employ a work force comprised of at least 60% South African citizens or permanent residents on a permanent basis.
Proof of compliance of this undertaking is to be submitted within 12 months after issuing of the visa.
See here our latest business visa related article about “Is purchasing a franchise a way to obtain a business visa?”
For more information about visas in South Africa click here.
IBN Immigration Solutions offers a full range of immigration services including the facilitation of entry visas, all types of temporary and permanent residence permits, permits for the accompanying family as well as document procurement and translation.
Our consulting approach is to provide our clients with a single contact person throughout the entire assignment, thereby saving valuable time and effort for the client and allowing us to offer an optimal and personalized solution. We offer assistance in every step of the immigration process from the preparation of the required documentation and submission of the application to the communication with the relevant authorities until the issue of permit.
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