THE FINANCIALLY INDEPENDENT PERMIT

People desiring Permanent Residence status in South Africa may apply for Permanent Residency under the Financial Independent visa category.

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WHAT IS THE FINANCIALLY INDEPENDENT PERMIT?

Financially Independent Permit allows the applicant to remain in South Africa on a permanent basis. Ideal for high net worth individuals of any age and nationality wishing to permanently stay in South Africa.

WHAT IS NEEDED TO QUALIFY FOR A FINANCIALLY INDEPENDENT PERMIT?

You must show a net worth of at least ZAR12,000,000 and need to pay a fee of ZAR120,000 to the Department of Home Affairs before issuance of the permit.

WHAT ARE THE BENEFITS OF THE FINANCIALLY INDEPENDENT PERMIT?

Financially Independent Permit grants immediate Permanent Residence status offering the holder thereof the flexibility to retire in South Africa, start a business, work or study.

You may enter and exit South Africa freely. Should you leave, there is the low requirements to re-enter South Africa at least once every 3 years to maintain your Permanent Residence status.

A WORD OF CAUTION

Always keep in mind any adverse tax and exchange control considerations, meaning that whilst Permanent Residency may at first glance appear like a good idea from an entry perspective, from a holistic planning perspective, it may be considered a less favourable choice.

This is where holistic consideration becomes important, i.e. the fiscal aspects and tax planning must be considered as part of the service.

USEFUL FACTS

The status of a Permanent Resident does not affect the holder’s citizenship in their home country.
A Permanent Resident can obtain a South African identity book endorsed as “non-citizen”.
You will be eligible for citizenship after 10 years, or sooner with sufficient motivation.
Unlike some other Permanent Residence categories, Permanent Residence under Financial Independence does not contain additional certain conditions.
The Permanent Resident process takes approximately 4 – 10 months to obtain.
There is not requirement to reside in South Africa immediately upon issuance of the Permit.
Traveling in and out of South Africa becomes much easier and the need for extending visas becomes a thing of the past.

WHY US?

Work Permit South Africa has an experienced and dedicated team of immigration specialists, master tax practitioners, commercial attorneys, chartered accountants and mobility practitioners. Our competitive advantage is adding a layer of tax optimisation to the process thus always ensuring tax and residency implications are taken into account.

100% work visa success rate with expedited delivery. Illustration of visa application, passports, and approval stamp.

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Please select the visa category you require assistance with:*
How old is the child?*
Does the child's parent/ guardian have valid status within South Africa?*
What is your marital status?*
What is the status of your spouse?*
What is the number of foreign nationals you are looking to employ?*
Do you currently have a formal offer of employment from a registered South African company?*
What is your highest level of Education?*
In which country did you complete your highest qualification*
What position have you been offered*
Do you have accompanying family members?*
What is your highest level of education?*
In order to qualify for a General Work Visa, you must have an offer of employment from a South African employer. What is your expected annual income for the position you have been offered?*
How many years of work experience do you have?*
Is your prospective employer a member of the Trusted Employer Scheme?*
* Trusted Employers who have received this status form the DHA often meet the following criteria: - Have invested more than R100 million into the South African Economy - Employ more than 150 staff
Are you proficient in one of South Africa's 11 official languages?*
What is your relationship to a South African citizen/ Permanent Resident?*
Do you have an offer of employment from a South African employer?*
What is the duration of your relationship?*
Do you have an offer of employment from a South African employer?*
Are you currently employed by a foreign entity outside of South Africa?*
Do you earn an annual salary exceeding R650,000? (UDS $37,000 / EUR 33,000)*
What is your intention in South Africa?
What is you intended duration of stay in South Africa?*
Do you have a monthly irrevocable income of at least R37,000?*
Do you have a net worth of at least R2.4 million?*
Do you intend on working part time or conducting business while in South Africa?*
Do you have accompanying family members?*
What is the duration of your assignment in South Africa?*
Does your current employer support your work in South Africa?*
Are you being sent on a secondment or assignment to South Africa?*
Have you been employed in your current position for longer than 6 months?*
What is the expected duration of your secondment/ assignment?*
Do you have an enrollment letter from a recognized learning institution?*
What level of education will you be completing in South Africa?*
What visa do you currently hold?*
Please specify other*
What is the expiry date of your current visa*
Date Format: DD slash MM slash YYYY
What Visa do you currently hold for South Africa?*
Have you received a permanent offer of employment?*
Do you have accompanying family members?*
What is the expiry date of your current Critical Skills Work Visa?*
Date Format: YYYY slash MM slash DD
Do you have accompanying family members?*
What is the expiry date of your current General Work Visa?*
Date Format: YYYY slash MM slash DD
How long have you resided in South Africa?*
Do you have accompanying family members?*
What is the expiry date of your current Intra Company Transfer Work Visa?*
Date Format: YYYY slash MM slash DD
How long have you resided in South Africa?*
Have you been offered Permanent employment by a South African employer?*
What is your relationship to a South African citizen/ Permanent Resident?*
How long have you resided in South Africa?*
Have you maintained your relationship with your South African partner/ South African PR holder?*
How long have you resided in South Africa?*
How long have you resided in South Africa?*
Do you receive an irrevocable income of at least R37,000 per month (Rental income, dividends, interest, pension, ect )*
Do you have a net worth of at least ZAR 1,8 million*
What is your relationship to a South African citizen/ Permanent Resident?*
How long have you resided in South Africa?*
Have you maintained your relationship with your South African partner/ South African PR holder?*
How long have you resided in South Africa?*
Total Points
Full Name*
Email Address*
Country Code
Contact Number*
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IN THE NEWS

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RESIDENT EXPERT: WHAT ARE THE ADVANTAGES OF PERMANENT RESIDENCY

If you are an expatriate in South Africa, applying for a work permit can be a time-consuming process. This leads many to ask whether it is more beneficial to apply for permanent residency sooner.

Full Name*
Email Address*
Contact Number*
Country of Residence*
Do you currently hold a Study Visa*
When does your Study Visa expire?*
Have you been enrolled to an educational institution in South Africa?*
Field of study
Where did you hear about us?*
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Disclaimer

Work Permits SA subscribe to Google’s rules on transparency. We are a privately-owned immigration practice and as such comply with the Immigration Act of South Africa. We are not the South African Government. We charge for our expertise in successfully applying for temporary and permanent residence services. Forms that are supplied during the process can be collected free of charge at any Department of Home Affairs office but are provided as part of the service. Users who wish to do so can contact the Department of Home Affairs directly at www.home-affairs.gov.za.

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THE FINANCIALLY INDEPENDENT PERMIT

MORE INFORMATION

WHAT IS THE FINANCIALLY INDEPENDENT PERMIT?

WHAT IS NEEDED TO QUALIFY FOR A FINANCIALLY INDEPENDENT PERMIT?