South Africa Retirement
The South African Retirement Visa has over the years become a very popular visa amongst foreign who are in possession of sufficient financial security to immigrate to South Africa on a temporary or permanent basis. South African Retirement visas are based upon a retired applicant who can provide evidence of a lifelong pension fund or income and are a popular choice for 'seasonal' visitors who revisit the country each year for up to six months.
The retirement visa may be issued as a temporary resident's visa or for permanent settlement visa. Applicants who take temporary visa option are under no obligation to apply for permanent residency as a temporary permit may be renewed indefinitely. As with all routes for immigration to South Africa, applying for permanent residency afford the candidate many of the same rights as a South African citizen, and is a necessary precursor to applying for South African citizenship in their own right.
Applying for a Retirement Visa
The permits for the Retirement visa are issued for a lengthy period of four years which may be renewed in increments of four years. As long as the original criteria of the visa continue to be met, then this type of South African visa can be renewed indefinitely and holders can choose whether to live in South Africa continuously or to spend extended periods in another country. In the case that an applicant opts for the permanent retirement visa, they will be issued with permanent residency in South Africa.
South African Retirement eligibility criteria are financial and unlike the Work permit, applicants do not have to be in possession of a job offer, they are however permitted to work if they choose to. Applicants have to bear in mind that the nature of the visa is called a Retirement visa and applicants are required to have sufficient funds to sustain themselves during their time in South Africa. If applicants desire to work they may only be permitted to work subject to approval and evidence that no existing South African citizen or permanent resident will be displaced. Those in possession of permanent residency will be able to live and work in South Africa as they see fit.
Retirement Visa Criteria
The Retirement visa has no age limit imposed on its applicants and it is issued to a person of any age who meets the requirements. When applying for the retirement visa as a temporary residence permit, applicants must show one of the following:
- A pension or other form of retirement income which guarantees a minimum value of 20,000 Rand per month. This figure applies to each person submitting an application.
- A net worth through a combination of different assets which reaches a minimum income of 20,000 Rand per month. This also applied to each candidate making an application.
- Applicants may alternatively obtain a South African visa of this kind by demonstrating a "net worth" through a combination of assets which equates to a minimum of R 20,000 per month. Once again, this criterion applies to each person making an application.
- When applying for a retirement visa applications must be submitted from within South Africa.
South African Dependents
A temporary retirement visa does not make specific provision for the spouse and/or dependent children of the main applicant. Dependents do not automatically qualify for entry to South Africa and since this immigration service is based upon the financial security of every applicant, each person wishing to accompany an applicant must apply in their own right. However, where a permanent retirement visa is successfully obtained, their spouse and/or dependents would also be granted permanent residence.
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