If you wish to establish a business in South Africa or invest in an existing business in South Africa, you have to apply for a business visa. A business visa allows the holder to own and operate a business in South Africa.
The business visa is issued for up to three (3) years, and can be renewed.
Conditions for business visa
One of the most important conditions for obtaining a business visa is proof of the availability of funds to be invested.
Currently, the Department of Home Affairs requires a minimum ZAR five (5) million investment. This amount can be reduced in certain situations.
For the business visa, the holder requires a business plan. The business plan and idea must be submitted to the Department of Trade & Industry (DTI).
The DTI will issue the outcome in the form of a positive or negative recommendation letter.
Requirement of a business visa
A crucial requirement of a business visa is that the applicant is needs to undertake to employ a work force of at least 60% South African citizens or Permanent Residents. The proof that the undertaking was fulfilled must be submitted within twelve (12) months after the issuance of the business visa to the Department of Home Affairs.
by Chriselle Booise