What is the business visa for South Africa
A South African business visa affords a foreign national the right to reside and establish or invest in a business in South Africa.
How would I qualify for a business visa?
A foreign national must either invest the prescribed amount of R5 million into an existing business or provide plans to establish a new business, along with evidence of the capital contribution of R5 million. The Department of Home Affairs may reduce or waiver the capital contribution should the business be of national interest or when requested by the Department of Trade and Industry to do so.
For what duration is a business visa valid?
A business visa in South Africa can be issued for 3 to 5 years. The way in which an application is motivated greatly influences the duration for which the visa is issued. For this reason, applicants who have had the benefit of professional’s services will usually receive a visa with longer validity.
Pros of a business visa
It is possible to apply for Permanent Residence once you have obtained the Business Visa. To action such a request, you need to provide proof that you have met the requirements given above on two occasions: first within two years of the issue of your Visa, and then once again after a period of three years.
Cons of a business visa
The most important factor when applying for Permanent Residence based on the Business Visa is that your capital investment in your business should not be withdrawn. If you withdraw your capital from your business at certain points in time, your application for Temporary or Permanent Residence could be rejected.
The Minister has declared any businesses in the following sector as undesirable and will therefore not be considered under this category of Visa:
- Businesses that import second-hand motor vehicles into the Republic of South Africa or the purpose of exporting to other markets outside the Republic of South Africa
- The exotic entertainment industry
- Security Industry
Permanent Residency Option
Apply for a business permit if you’re looking to do business in South Africa on a permanent basis