Inter-alia with the visa application, one must be able provide a certificate issued by a chartered accountant registered with the South African Institute of Chartered Accountants or professional accountant registered with the South African Institute of Professional Accountants to the effect that –
- Proof that an amount of at least ZAR 5 million in cash can be invested in the Republic as determined by the Minister. The capital requirements may be reduced or waived in respect of the following types of industries/businesses:
- Information and Communication Technology
- Clothing and textile manufacturing
- Chemicals and bio-technology
- Metals and minerals refinement
- Automotive manufacturing
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- Undertakings of:
- At least 60% of the total staff complement to be employed in the operation of the business shall be South African citizens for permanent residents:
- The Business Visa is designed to encourage the creation of jobs and as such the business visa holder must undertake to employ a minimum of 60% if its workforce from South African labour market, i.e. South African citizens or permanent residents.
- To register with the South African Revenue Service, Unemployment Insurance Fund, Compensation Fund for Occupational Injuries and Diseases, Companies and Intellectual Properties Commission (where legally required) and Relevant professional body, board or council recognized by SAQA in terms of section 13(1)(i) of the National Qualifications Framework Act
- Obtain a Certification in support of the Business Visa application from the Department of Trade and Industry
One of the essential requirements to secure a Business visa is a comprehensive business plan and a business profile. Please click here for more information hereon.
The Certification from the Department of Trade and Industry (DTI) takes on average 1 – 3 months to obtain. Once this certificate has been secured, you will be in a position to file your Business Visa application which in turn takes 4 weeks to be processed by the Department of Home Affairs / relevant South African Embassy.