Articles
The Complete Guide to the Financially independent Visa
What is Permanent Residence?
• What is Permanent Residence?
• Can you buy permanent residency in South Africa?
• What is Independent financial permit in South Africa?
o But what does it mean to be financially independent?
o There are many benefits with this visa when obtaining permanent residency such as:
• How much do I need to invest in South Africa to get permanent residence?
o What are examples of assets that could be counted as net-worth assets?
• Can I add my family to the visa?
o What do I need to add them to the visa?
• What are the government fees for the visa?
•
• What happens if I dont qualify for the visa?
Permanent residence is the first step to becoming a citizen of the country. It offers many benefits and opportunities. The most important one being that you are able to live in South Africa indefinitely, without any conditions attached.
Permanent residence status is available for people who have made an investment in South Africa or for those who have had a temporary residence permit for more than 5 years like being on a work permit for example and other certain circumstance like how to get permanent residence in South Africa.
The South African immigration act states that there are various ways to qualify for a PR.
Can you buy permanent residency in South Africa?
Technically you can buy permanent residency in South Africa, however this is not seen as an investment.
South Africa does not have an investment option for South African permanent residency, but there is an alternative option that high-networth individuals can apply for that would lead to permanent residency.
The option that is available to high-net worth individuals is the financially dependent visa which they can apply for.
The difference between the financially independent visa and the investor permit is the following:
• An Investor permit requires applicants to invest a large sum of funds from abroad into the destination country in which you are applying for.
• An investor permit requires you to invest funds for a period of time like five years for example.
• The financially dependent visa requires no investment to be made and the requirements are much more straight forward.
What is Independent financial permit in South Africa?
The financially dependent visa is type of visa which is aimed at high-networth individuals who able to support themselves financially in South Africa.
But what does it mean to be financially independent?
According to wikipedia this is the definition:
“Financial independence is the status of having enough income or wealth sufficient to pay one’s living expenses for the rest of one’s life without having to be employed or dependent on others.”
There are many benfits with this visa when obtaining permanent residency such as:
1. Allowing you to work in the country.
2. Start your own business.
3. Further your studies in South Africa.
4. Add a dependents such as a spouse or kids.
5. There are no age restrictions.
The processing times for a financially independent visa is quite a lengthy process which can take about 12 to 18 months as the Department of Home Affairs is currently experiencing a backlog of visas which they are currently trying to clear.
Therefore it can take longer than 18 months to process, so keep this in mind. South African immigration is quite complex and its best making use of an immigration consultant.
Our immigration services in South Africa offers a free assessment to see if you qualify.
How much do I need to invest in South Africa to get permanent residence?
The financial independent visa requires no investment, however you need to qualify for the following criteria:
• Prove that you have a networth of R12 million or more.
• Upon approval pay the Director General of Home Affairs R 120, 000.00
• Provide the required documents to apply for the visa.
Wht are examples of assets that could be counted as net-worth assets?
• Investsments
• Bank and brokerage accounts
• Retirement funds
• Real estate
• Personal property
Can I add my family to the visa?
Yes you can add your spouse and kids as dependents to the visa.
What do I need to add them to the visa?
• Show proof of relationship such mariage certificate or proof that you are a parent to your kids.
• A valid passport
• Medical form
• Clear criminal records by submitting a police clearance certificate
• Completed application form and government processing fees
What are the government fees for the visa?
The fee or fees information are as follow:
• VFS fee per applicant:
• Department of Home Affairs processing fees
• Payment upon approval of visa: R 120,000.00 to the Department of Home Affairs.
Please note applications may vary if you are applying abroad at a South African embassy or consulate.
What happens if I don’t qualify for the visa?
You can then alternatively apply for the following visas:
• a business visa South Africa (Establish a business)
• retirement visa South Africa
To qualify for a business visa you must invest R 5 million within the new business or an existing business, employ South African citizens or permanent residence and to qualify for a retirement visa you need to receive a irrevocable annuity income or from assets which accounts to about a minimum of R 37,000.00 or more a month.
South Africa immigration options are available too if you are not interested in applying for either visas.
The only drawback with the retirement visa is that you are not allowed to work or run a business in South Africa.
V.5368
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
27. Aug. 2024 Sowetan Live
Court rules in favour of traditional wife and nullifies civil marriage
Hilda Sedinjane turned to the Limpopo High Court in Polokwane for an order that she be recognised as the true wife of deceased Seabela Malatji. The parties concluded a customary marriage in 1988 as evidenced by a lobola certificate and four children were born of the marriage. V.5574
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
26. Aug. 2024 Cape Times
Outdated systems expose Home Affairs
Home Affairs Minister Leon Schreiber on Tuesday said his department should urgently embrace technology, or South Africas national security would be under threat. Schreiber said the problems in the issuance of fraudulent visas pointed the department towards a solution that lay in embracing digital transformation in all its facets and across the department. V.5571
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
26. Aug. 2024 Polity
Home Affairs committee wants inspectorate unit strengthened to track foreign nationals
The Portfolio Committee on Home Affairs pointed out that while the deportation of 95 Libyan nationals has been effected, the need to strengthen the inspectorate unit of the department is necessary and called for an enhanced monitoring tool to track foreign nationals in the country. Earlier this week, the Department of Home Affairs (DHA) concluded its preparations to deport the 95 Libyan nationals, after they were arrested in White River, Mpumalanga, last month. V.5572
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
23. Aug. 2024 Sowetan Live
Two more people caught over IDs-for-sale scam
Duo`s arrests follow that of home affairs office cleaner Office cleaner Rhandzu Chauke with family and lawyer outside the Pretoria magistrates court, this after appearing on the charge of theft of home affairs stamp. The arrest of two undocumented Mozambican nationals in connection with the selling of fake IDs has lifted a lid on an alleged documents-for-cash scheme believed to be happening at the home affairs office in Centurion. V.5562
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
23. Aug. 2024 TIMES TRAVEL
How to apply for Greece tourist visa: A step-by-step guide
Synopsis Travelers planning to visit Greece need a Schengen visa. The process includes scheduling an appointment, filling out an application form, submitting required documents, attending an interview, and waiting for processing. Greece is a gorgeous European nation noted for its iconic island destinations such as Santorini and Mykonos, among others. Those planning a trip to Greece, applying for a tourist visa is a must. Because Greece is a European nation, youll need to apply for a Schenegen visa. However its an easy process if you are aware of all the necessary steps carefully. V.5564
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
23. Aug. 2024 Daad
Austria Job Seeker VISA With Family VISA Application Process
Ever dreamt of swapping your daily grind for a life filled with stunning mountain views, world-class music, and enough pastries to make your heart sing? Well, Austria is ready to roll out the red carpet for you! One of the key pathways to entering Austria as a skilled worker is through the Austrian Job Seeker Visa (Category D). V.5566
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
23. Aug. 2024 Daily Maverick
Deadly Marabastad stampede sheds light on struggles of undocumented migrants in SA
Police are investigating a stampede that took place at the Home Affairs offices in Marabastad in Pretoria in which one person died and 20 more were injured. The story of Chidimma Vanessa Adetshina and how she became a contestant in the Miss South Africa pageant has cast notions of nationality and access to documentation for foreign nationals living in South Africa into the spotlight. V.5568
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
23. Aug. 2024 DW
New Zealand: Emigration soars amid economic woes
New Zealand`s population of 5.3 million grew by just 0.1% (7,000) in the second quarter of 2024 as the number of those leaving the country reached well over 100,000 in the first half of the year, official statistics showed on Monday. The practical stagnation in population growth comes despite record numbers of arrivals in recent years driven largely by the island nation`s reputation for high living and working standards and as a haven of security in an increasingly troubled world. V.5569
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
23. Aug. 2024 DW
New Zealand: Emigration soars amid economic woes
New Zealand`s population of 5.3 million grew by just 0.1% (7,000) in the second quarter of 2024 as the number of those leaving the country reached well over 100,000 in the first half of the year, official statistics showed on Monday. The practical stagnation in population growth comes despite record numbers of arrivals in recent years driven largely by the island nation`s reputation for high living and working standards and as a haven of security in an increasingly troubled world. V.5570
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
21. Aug. 2024 IOL
Visa backlog: Portfolio committee welcomes overtime approval for Home Affairs officials
The Portfolio Committee on Public Service and Administration has welcomed the approval of overtime for Home Affairs officials to reduce the visa backlog. This comes after Minister of Public Service and Administration, Inkosi Mzamo Buthelezi and his department granted the overtime request from Homes Affairs Minister Leon Schreiber for the next three months to meet target and reduce the backlog. V.5560
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
20. Aug. 2024 News 24
While Schreiber wants to bring dignity to Home Affairs, xenophobia rears its head in budget debate
Several parties represented in Parliament blamed undocumented migrants for crime and draining social services during the debate on the Department of Home Affairs` budget. Claims undocumented migrants are disproportionately responsible for crime or are depleting South African taxes without contributing, have previously been debunked. New Home Affairs Minister Leon Schreiber said he wanted to bring dignity back to the department`s work. V.5555
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
20. Aug. 2024 Groundup
Judge slams law firm for misleading court with `cut-and-paste` applications targeting refugees
Gauteng Judge President Dunstan Mlambo has slammed a firm of attorneys and an advocate for `cut-and-paste` work in cases involving refugees. He ordered them to pay out of their own pockets for costs awarded in these cases. Manamela MA Attorneys was running a `cottage industry`, preying on vulnerable refugees, Mlambo said. A firm of attorneys and an advocate have been ordered to pay the costs, from their own pockets, of six `cut-and-paste` applications involving refugees seeking asylum, GroundUp reports. V.5556
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
20. Aug. 2024 My Broadband
How to get your new Smart ID at a bank
South Africans looking to upgrade their green ID booklet to a smart ID card can book an appointment to do so using the Department of Home Affairs (DHA) eHomeAffairs platform. Moreover, the system allows applicants to book appointments at DHA-supported bank branches across the country, meaning they never have to step foot in a Home Affairs office or face the associated queues. V.5557
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
20. Aug. 2024 SowetanLive
How stolen home affairs stamp led to cleaner`s bust
A year and four months after a stamp used to authenticate documents was stolen at a home affairs office, a 24-year-old man presented a birth certificate bearing the same stamp to apply for an ID. The certificate, however, was found to be fake and was produced four months after the stamp was stolen. V.5559
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
19. Aug. 2024 SABC 3
Spaza shop owners cry foul regarding Gauteng government funding
Local entrepreneurs and spaza shop owners have lashed out at the Gauteng Department of Economic Development for failing to deliver on their promises which were part of the R100 million Kasi Mnotho Fund. The fund was aimed at offering strategic loans and empowering businesses to secure trading stock, equipment, machinery and working capital. This initiative was promised to business owners in an attempt to foster entrepreneurship and propel economic growth in Gautengs townships. V.5552
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
19. Aug. 2024 IOL
Identity fraud rockets in SA
Identity fraud is on the increase in South Africa, with the latest fraud statistics recording a 400% surge in impersonation fraud from April 2023 to April 2024. Fraud statistics from the Southern African Fraud Prevention Service (SAFPS) have also revealed that impersonation fraud increased by a staggering 356% from April 2022 to April 2023. V.5553
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
16. Aug. 2024 EWN (EYEWITNESS NEWS )
Father unable to register his son because he is not the mother
For the past eight years, Mqokeleli Sigwintshi has been trying to get a birth certificate from the Department of Home Affairs for his son, who is now nine years old. Sigwintshi said in 2015, his wife, with whom he had a traditional marriage, gave birth to their son at the Willowvale Health Centre. A year later, his wife visited her family in Mthatha. V.5550
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
14. Aug. 2024 Reuters
People leave New Zealand in record numbers as economy bites
People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anaemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131 200 people departed New Zealand in the year ended June 2024, provisionally the highest on record for an annual period. Around a third of these were headed to Australia. While net migration, the number of those arriving minus those leaving, remains at high levels, economists also expect this to wane as the number of foreign nationals wanting to move to New Zealand falls due to the softer economy. The data showed of those departing 80 174 were citizens, which was almost double the numbers seen leaving prior to the Covid-19 pandemic. V.5548
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
14. Aug. 2024 SABC3
De Lille calls for concerted efforts for tourism to grow SA economy
Tourism Minister Patricia de Lille has called for concerted efforts to ensure that the potential of the tourism sector to grow the economy is realised. The sector is one of the apex contributors to the economy. The country is seeking to attract 15 million tourists to South Africa by 2030 as the National Development Plan envisages. V.5549
Click here for full article
Deprecated: Function strftime() is deprecated in /home/samiglpg/public_html/article_full_V01.php on line 324
13. Aug. 2024 Zimoja News
Driven by a desire for a luxurious lifestyle
A Congolese national was sentenced to 12 years for corruption and other crimes. CRIMINAL SYNDICATES Congolese national Tiny Mtumba (36) was sentenced to 12 years and 3 months imprisonment for fraud, theft, and contravention of the Immigration Act by the Palm Ridge Commercial Court in the East Rand in Gauteng on Thursday. V.5547
