South Africa Retirement
The South African Retirement Visa is a popular South African immigration service which allows a foreign national, in possession of sufficient financial security to immigrate to South Africa on a temporary or permanent basis. Retirement visas are based upon a retired applicant providing 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.
Visit the Global Visas online assessment form now to find out whether you qualify for a South African retirement visa.
The retirement visa may be issued as a temporary residents permit or for permanent settlement. Those who opt for the temporary option are under no obligation to apply for permanent residency as a temporary permit may be renewed indefinitely. However, as with all routes for immigration to South Africa, applying for permanent residency afford the applicant 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 South African Retirement Visa
Although retirement visas may be issued as a temporary immigration solution, permits are in fact issued for a lengthy period of four years which may be renewed in increments of four years. So 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. Where applicants opt for the permanent retirement visa, they will be issued with permanent residency in South Africa.
In both cases, the eligibility criteria are financial and unlike a South African Work permit, applicants do not have to be in possession of a job offer though they may work in South Africa if they wish. Due to the nature of this visa, which is based on a steady stream of income, it may be assumed that those choosing to ‘retire’ in South Africa will not need to work. However, temporary visa applicants may 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 Eligibility Criteria
Although this South African visa service is referred to as a retirement visa, no age limit is imposed. A retirement visa may be issued to a person of any age who meets the requirements. Outlined below.
When applying for the retirement visa as a temporary residence permit, applicants must be able to demonstrate 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.
- Alternatively, candidates may 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 as a permanent immigration service, the key difference is that applications must be submitted from within South Africa.
Unlike South African work permits and business visas, 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.
At Global Visas, we have one of the largest teams of South African immigration lawyers and migration consultant in the world. Our consultants are committed to ensuring you obtain the right immigration services for you. Visit our online assessment area today to find out whether you qualify and to begin your application.