If you are looking to obtain a South African Business Visa, you are probably interested in either investing in an existing business in SA, or planning to start a new business in the country. The country designed this visa in inspire entrepreneurs to enter and stay in the country and explore all the business opportunities for future growth.
Of course, there are certain criteria to considering when you want to apply for a South African Business Visa. Individuals seeking temporary or permanent residency in the Republic in order to start or run their own business can apply for such a visa. Note that if you are looking to expand your business in South Africa a Business Visa might not be the right route to follow.
What you need before applying for a South African business permit
What You Need to Meet The Requirements and Apply
As a foreigner wanting to invest in the South African economy through you’re required to invest a prescribed financial capital contribution. Along with a completed BI-1738 form, you will also have to submit a certificate issued by a chartered accountant that is registered with the South African Institute of Chartered Accounts that will stipulate that you have:
- An amount of cash available to be invested in the country from time to time, as determined by the Minister (after consultation with the Minister of Trade and Industry) or an amount of cash and a capital contribution available as determined by the Minister.
- Proof that at least 60% of your workforce and total the staff is made up of South African citizens or permanent residents that are permanently employed in various positions.
- An agreement to register with The South African Revenue Service, Unemployment Insurance Fund, Compensation Fund, Companies and Intellectual Properties Commission, and a relevant professional body or council, where applicable, as recognized by the SAQA.
- Police clearance certificates from each country in which you stayed from the age of 18 years, including South Africa.
- A letter of recommendation from the Department of Trade and Industry that assessed the feasibility of your business and why the contribution would be beneficial and of interest to the Republic.
- A yellow fever vaccination certificate if you’ve travelled or you’re planning to travel in a risk area, as well as your radiology reports.
Should a company be applying for a Business Visa for an existing business, they should provide documentation of financial statements of the previous year as well as a contribution to the national interest of the Republic in addition to the above-mentioned documentation.
In the case of the capital requirements, certain industry-types might have a reduced or waived requirements. These include:
- Clothing and Textile Manufacturing
- Tourism Crafts
- Biotechnology and Chemicals
- Information and Communication Technology
- Automotive Manufacturing
- Agro-processing of Metals and Minerals
Speak to a professional
Contact Le Roux Attorneys, South African Visa specialists about your visa application. Start by selecting one of the enquiry options below