Affordability, the beautiful attractions, our wonderful climate are only some of the reasons people choose South Africa as their retirement destination.
Individuals wanting to retire in South Africa can apply for a temporary residence visa based on retirement (retired person visa).
The retirement visa is issued for up to four (4) years, and allows the holder of the retired person visa to retire and stay in South Africa on a seasonal or continuous basis.
The holder of a retirement visa is not allowed to work, although an authorisation to work can be applied for this type of visa is hardly issued.
Key requirements for retired persons visa for South Africa
The key requirement for the retired persons visa is the proof of a monthly income with the minimum amount being ZAR 37 000 for the entire period which the visa is issued for, i.e. four (4) years. The amount can be substantiated by proving a monthly pension or a monthly income generated by assets.
In addition to the aforementioned, in some cases the individual can proof the available funds by using capital assets in the form of a bank deposit.
When considering your retirement destination, do not overlook South Africa, I can assure you that you will not be disappointed.
by Chriselle Booise