Obtaining a retirement visa or permit for immigration to South Africa is often a two-step process because of the factor that time plays.
Whilst an application for a retired permit can be made without the need for obtaining temporary residency as a retired person first, this process can take 2 to 3 years.
Most retirees wish to immigrate before this, so in reality a temporary application is made for 4 years with a simultaneous application for permanent residency.
Individuals not wishing to make a permanent application can apply to renew their temporary visas a few months prior to expiry.
Below are the pertinent facts relating to temporary and permanent applications for a retirement visa or permit for immigration to South Africa.
Immigration to South Africa as a temporary resident with a retirement visa
South Africa welcomes retirees and imposes no age restrictions (neither young nor old) on applications for retirees. Although there are a number of criteria to be met the most prominent one is the need to be able to support yourself.
The financial criteria are as follows:
1. Each person applying must be able to demonstrate a monthly income of R37, 000 per month.
Or
2. That a capital sum is available that equates to the monthly required income. For each month a couple apply for a temporary retired persons permit, they would need to show cash available to the amount of ZAR 37,000. Therefore the 4 year permit equation would be 48 months (4 years/12 months in a year) times ZAR 37,000 per month. A figure of ZAR 1,776,000 in cash or cash equivalents will need to be shown as proof of funds in order for the couple to qualify.
Or
3. A combination of the above two.
Immigration to South Africa as a permanent resident with a retirement permit
Again no age restriction applies to applications for permanent residency as a retired person. Applications can be made simultaneously with a temporary retired application or as stand alone.
As with the temporary retired visa, the most prominent criteria is financial.
The financial criteria are as follows:
R37,000 per month of guaranteed income for one of the applicants.
In the case of a couple, the spouse or partner will join the main applicant (the one with the R37,000 per month) as an accompanying spouse or partner and therefore do not need to show income.
Please note that guaranteed income proof comprises of:
- Pension income.
- Rental income (Temporary and Permanent Residence). The following will be needed in order for the Department of Home Affairs to accept this as income:
- Lease/Rental/Tenancy Agreements.
- Duration of Lease Agreements if applying for a four year visa, stating that property will be leased/rented out for a minimum of four years. Please note that a statement from the rental agent is needed.
- Proof of Ownership of Property / Deed of Sale.
