What are the benefits of a Retired Visa?
South African Retired Person’s Visa
Retired person’s permits may be issued to persons who wish to retire in South Africa, provided that such persons comply with the financial requirements provided for in the Immigration Act, 2002 (Act No. 13 of 2002) and its Regulations.
How does one qualify?
Inter-alia with the visa application, one must be able provide proof that you receive a monthly income of R37,000.00. This to be provided in the following forms (not limited to) –
- Pension or retirement income
- Combined assets
- Interest earned
- Rental income
- Profit shares
One can assume that expats wishing to apply for this visa category would not require working, however you may choose to apply for this visa along with work or business endorsement when complying with the necessary requirements.
Retired person’s visas are typically issued for a period of 4 years and are renewable. Holders of a Retired person’s visas may also apply for Permanent Residency on the same basis should this be a desired status.