Foreign investors wishing to set up a business or to invest in an existing business in South Africa have the option of applying for a temporary residence business visa based on own business.
This type of business visa is issued for up to 3 years at a time and allows the holder to establish and operate their business in the Republic of South Africa.
One of the most important conditions for obtaining a business visa is proof of the availability of funds to be invested.
The Department of Home Affairs currently requires a minimum investment of ZAR 5 million, but this requirement can be reduced in case the business falls into one of the prescribed categories.
The business idea must be approved by the Department of Trade and Industry which will issue a positive or negative recommendation letter. Continue reading
The Department of Home Affairs made an unexpected change regarding their immigration policies. From 14th May 2014 onwards, Pre-Approvals, in other words Authorization letters in respect of Section 11 (2) or Business Visas will no longer be issued by the Department of Home Affairs. Current applications will only be processed if the professional has applied before the 14th May 2014.
From now on, all Section 11 (2) or Business Visa applications have to be submitted at the respective South African Embassy abroad before entering the country. That applies to everyone, professionals from countries which require Visa as well as professionals which are Visa exempted for South Africa. The new policies will in near future especially affect business travellers which are mostly using a Business Visa and professionals who want to reside and work in South Africa for a certain time period. Continue reading