Black Pen Immigration

How to Apply for a South African Retirement Visa

German & English-speaking immigration
company from assisting with visas
to finding employment
 
404 Equinox Building | 154 Main Road | Sea Point South Africa
Blackpen-immigration.com
info@blackpen.co.za
BlackPen_Law
Black Pen Immigration and Recruitment

How to Apply for a South African Retirement Visa

Everything you need to know about applications for retired temporary and permanent residency in South Africa

Last update: 10 June 2019 

The retiring abroad landscape has changed dramatically since the financial collapse of 2008. The traditional destinations of Spain, Greece, Cyprus, and Portugal have all seen economic issues, and in some cases, the uncertainty around these countries’ banking industries and subsequent fiscal reforms have threatened expats’ savings.

South Africa, even with its economic uncertainty, continues to offer potential retirees the high-quality lifestyle, value for money and climate they’re looking for, so it comes as no surprise that there’s been an increase in the number of retirees settling here.

"The main attractions are the fact that money goes much further in South Africa and that there’s already a large expat community,” explains founder and CEO of Black Pen Immigration, Nora Dawud.

While the idea of living out your twilight years in South Africa is certainly appealing, the emigration process can prove complicated and foreboding, especially in light of the 2014 immigration regulation changes.

The good news is that Black Pen Immigration, based in Seapoint, has helped many retirees get their retirement visas successfully.

To help prospective retirees with some of the key questions and concerns around retired permits for South Africa, Black Pen have answered some of the most common questions on the topic. If you need more assistance, Black Pen company is happy to help you directly (contact them directly with queries).

FAQS ABOUT SOUTH AFRICAN RETIREMENT VISA APPLICATIONS 

1. What are the permit options available to people wishing to retire in South Africa?

Retirees can take two routes when considering what application to make for retiring in South Africa:

  • A retired permit: which can be made on a temporary or permanent residency basis.
  • An independent financial persons permit: this is for permanent residency only.

2. What are the main criteria for being able to qualify for a retired permit in South Africa?

Retired permits or independent financial person permits focus on the applicant’s ability to be able to support themselves financially.

  • A retired visa application for temporary residence can be made by demonstrating either R37,000 per month in guaranteed income, a capital sum equal to R444,000 per annum (R1,776,000 for the full four year eligibility) or a combination of both. It is valid for up to four years.
  • A retired permit application on a permanent basis is made by showing a guaranteed monthly income of R37,000 per month. It is valid forever, but the holder must visit South Africa at least once every three years to maintain it.
  • A financially independent permit requires the applicant to have a net worth of R12 million, and the individual must pay a once-off fee of R120,000. The holder must also visit South Africa at least once every three years to maintain the permit.

3. Are there any age restrictions on the permit options for retired people?

None at all. South Africa is retiree-friendly, and there are no maximum or minimum age requirements.

4. What if I only want to stay six months per year in South Africa – do I really need a permit?

Many individuals staying in South Africa have traditionally entered on tourist visas for the first three months and then extended their tourist visa by another three months in order to stay six months in total. This can be a risky strategy, as tourist visas are meant for those coming to South Africa on holiday, not as a second home destination. Furthermore, the 2014 immigration regulation changes have made the extension process slightly more tedious.

5. Are there any tax implications surrounding residency in South Africa?

To a large extent, the type of permit you hold is not the main contributor to your tax status. South Africa operates on a worldwide taxation system that is residency based – in layman’s terms, this means it looks at whether this is your permanent home and how many days you spend in South Africa. Previously, "swallows" might have flown under the tax radar, but recent tax changes, including the fact that all homeowners must now be tax registered, have negated this.

South Africa is, however, tax-friendly for retirees. It has in place numerous double taxation agreements, no tax on foreign sourced pensions schemes and a very low capital gains tax rate (which is great for those with capital).

6. Apart from the financial criteria, what else must be presented with a South African retirement visa application?

When applying for a retired permit there is a number of standard items, which include:

  • Either the permanent or temporary residency application form
  • Valid passport
  • Medical and radiological reports
  • Police clearance certificate (s)
  • Yellow fever certificate (where applicable)

7. Where can I apply for a retirement visa or permit and how long is the processing time?

You can apply for a retirement visa or permit in your country of origin, residence or in South Africa. If you apply in your country of origin or residence, you must do so at a South African Embassy or Consulate. If you apply in South Africa, you must do so at a Visa Application Centre (VAC). These bodies are run and managed by the company Visa Facilitation Services (VFS); do not apply at a Department of Home Affairs office.

There are two points worth noting here: 

TEMPORARY RESIDENCE VISAS

PERMANENT RESIDENCE PERMITS

Applications submitted abroad tend to be processed in eight weeks.

Applications submitted abroad tend to be processed in 18 – 24 months.

Applications submitted in South Africa are reported to be processed by VFS in 4 – 6 weeks. 

Applications submitted in South African tend to be processed in 18 – 24 months.

NOTE: It is not possible to apply for a retirement visa or permit in South Africa if you have entered the country on a visitor’s visa. In this case, you must return to your country of origin or residence to apply for a retirement visa or permit.

---

Interested in living in South Africa, but not eligible to apply based on a retirement basis? Read more about applying for general permanent residence in South Africa.

---

Use our events section for an up-to-date overview of happenings in Cape Town. Also, don’t forget to subscribe to our newsletter, follow us on Twitter, like us on Facebook, join our Google+ circle, connect with us on LinkedIn and check out our Pinterest boards for updates.

Cape Town Events Calendar
March 2020
SUN MON TUE WED THU FRI SAT
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31

the_om_revolution_2019Sunrise To Sunset Yoga On The Beach Or ...

Sociable, mindful, fun and affordable group yoga classes in the park or on the beach

Polkadraai_and_popcorn_popcorn_and_wine1(CANCELLED) Polkadraai & Popcorn Wine ...

Check out the anti-serious wine pairing in the Western Cape with Polkadraai & Popcorn

african_relish_2019Prince Albert From Morning to Evening

Epic foodie experiences from coffee to dinner Monday to Saturday at the African Relish ...

extrablattWholesome Buffet Breakfast And Sunday ...

Hot food, cold food. Saturdays, Sundays, and public holidays

barons_poster15 Inner-City Discoveries To Make While ...

What would you do if you'd been given two hours and 15 fun things to do?

kiff_kombi_gin_tourIt’s Cape Town's Most Spirited Road ...

All aboard, gin lovers. You’re about to discover Cape Town’s hidden gin gems

sundoo2019_10Lamb Curry to Duck Briyani and Bunny ...

Sundoo’s South-Indian-inspired tapas are ideal for that lazy lunch that turns into ...

galileo_meySaturday Nights at The Galileo Open Air ...

Kick back, sip wine and relax with a country movie screening experience

Camissa Tour 5 2015Get A Unique Sunday Gospel Experience ...

Embark on a spiritual Sunday journey through one of the Mother City’s most soulful ...

SA Tattoo Convention(Postponed) More Tattoo Artists, Bigger ...

Express yourself and get inked by one of 90 tattoo Artists

WeatherGiveawaysTravel Tips