The Immigration Act enables a foreign person to apply for a retired person visa for up to four years on condition that the foreigner demonstrates that he or she is entitled to a pensions or irrevocable annuities for the rest of his or her life from the country of his or her origin, or from assets he or she may own, realizing no less than R37,000.00 per month for the following 48 months.
The retired person visa holder may apply to the DHA for permission to conduct work on such a visa, and such authorisation is granted at the discretion of the DHA.
To apply for a retired persons’ visa you must submit the following documents –
- The minimum payment to a foreigner shall be per month, the amount determined from time to time by the Minister, this amount is currently set at R37 000,00
- A minimum prescribed net worth currently set at R37 000,00
- Police Clearance certificate
Applications submitted in South Africa at the VFS office take approximately 4 – 8 weeks to process.
Fees
Department of Home Affairs Application Fee – R425
VFS Service Fee – R1350