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
August 2019
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

tjing_pancakesTuesdays Are Pancake Days At Tjing Tjing

A fluffy soufflé pancake (or two) at Torii at Tjing Tjing House

Ash_EvansBecome A Video Star

Learn how to handle yourself on camera

Jedi Tedi 3Drink Rosé & Find Inner Peace

Yoga, meditation and rosé on tap at this Women’s Day brunch in Milnerton

sounding_the_voidDiscover the Art of Listening At A ...

A free audio exhibition exploring fantasy islands, suits that give you a different ...

Kinky BootsSmash-Hit Kinky Boots Extended To 2020 ...

With music by Cyndi Lauper, several Tonys and a Laurence Olivier Award

fpl_5Get Moving in Functional Training Class

Improve your fitness, strength and overall functionality with the Functional Performance ...

royalteaA Tuesday Treat to Share with a Friend

Royaltea at the V&A Food Market is offering a second one of their special teas at half ...

devonvale15Free With Your Food: Specials at ...

From a free glass to a free bottle of estate wine, get something extra with your lunch or ...

sgtpepper152-for-1 Burger or Pizza Deal At Sgt ...

A reason to eat out: Get a free pizza on Tuesdays and a free burger on Thursdays at this ...

Barrs14Your Pharmacy Medicine Delivered For ...

Just Whatsapp or email your request, from basics to travel medications and emergency ...

Om Revolution vinyasa poseHave an Outdoor Yoga Experience with ...

Embrace your inner yogi outdoors

OX boat rides 110% Off: See The Marine Big 5 on an ...

Whales, dolphins, penguins, cape fur seals and mola mola (sunfish), an awesome boat trip ...

date night hq#HQDateNight: Served in Pairs, for Pairs

Planning a date or even for catching up with a mate? You’ll want to check out ...

Nasty Womxn - 4Nasty Womxn Flipping Greeks Myths on ...

A sketch art exhibition that retells the stories of Persephone and Medusa form a ...

grub_vine_3Free Wine Tasting Every Wednesday at ...

Grub & Vine’s #VineNight hosts a different wine farm

Vergenoegd_duckrun1Cheer On The Ducks At Vergenoegd Löw

Bring the kids along to experience the Duck Parade

WeatherGiveawaysTravel Tips

Curious to make exciting discoveries in Cape Town every day? "LIKE" us for a daily hidden gem.