WHAT ARE THE BENEFITS OF A RETIRED PERSON VISA IN SOUTH AFRICA?
- Work authorisation on ad-hoc basis may be applied for.
- Valid for 4 years and is renewable.
- Exit and re-enter South Africa freely.
- No minimum days requirement in South Africa.
- No age restrictions to qualify.
- Pathway to Permanent Residency.
What is the age range for a South African retirement visa?
There is no set age range for this visa, meaning retired people of any age can apply. Holders of a South African retirement visa may also work in South Africa if they wish. The South African Retired Persons' visa is issued on a temporary 4 year basis, and can be renewed indefinitely.
How long is the South African retired persons'visa valid for?
The South African Retired Persons' visa is issued on a temporary 4 year basis, and can be renewed indefinitely. Alternatively, holders of this visa may apply for this visa on a permanent basis from within South Africa, once they have been there for at least 4 years.
Is it possible to retire early in South Africa?
However, there are no age requirements on retiring in South Africa. That makes South Africa a good destination for those who wish to take early retirement. There are two retirement visa options available – either a retired permit or an independent financial person’s permit.
Can a retired person visa be used to work?
Despite the fact that the retired person visa has no age restrictions, the Department of Home Affairs considers it a visa for the retirement years. If you want to work, run a business or study, you’ll have to apply for an appropriate visa.
Can foreigners retire in South Africa?
A retirement visa in South Africa allows a foreign national to live and retire in the Republic. A Retired Person Visa is issued to someone who wants to retire in South Africa. The applicant needs to meet the financial criteria set out in the relevant legislation.
Are you legally eligible to work in South Africa?
Any person who is not a citizen or permanent resident in South Africa and who wishes to work in the country generally needs to obtain a work visa. Work visas last for the same time as your employment contract or for a maximum number of years. In general, visa extensions are possible.
How much money do you need to retire in South Africa?
To ensure you do not use all of your retirement capital in 30 years, R432,000 should be 4% of your total savings. This means you would need R10. 8 million saved to draw 4% or R432,000 annually.”
How long does a retirement visa last?
between one to five yearsHow Long Does a Retirement Visa Last? Your retirement visa can be issued between one to five years—depending on your destination country.
Can I work in South Africa without a work permit?
The immigration act of South Africa stipulates that anyone who knowingly employs foreign applicants without work permits will be in direct violation of the act and will be fined or might face imprisonment which will not exceed 12 months for their first offence.
How can a foreigner work in South Africa?
You cannot come to South Africa on a tourist visa and then apply for a work visa. You can apply for different types of South Africa work visa including a general work visa, critical skills visa, intra-company transfer visa and a business visa (if you want to start your own business in South Africa).
What is the best age to retire in South Africa?
The official retirement age in South Africa is currently 60. However, there are no age requirements on retiring in South Africa. That makes South Africa a good destination for those who wish to take early retirement.
What is the 4 rule in retirement?
One frequently used rule of thumb for retirement spending is known as the 4% rule. It's relatively simple: You add up all of your investments, and withdraw 4% of that total during your first year of retirement. In subsequent years, you adjust the dollar amount you withdraw to account for inflation.
How do I get a South African retirement visa?
A person who wish to retire in South Africa may apply for a retired person's visa, provided that he or she receives at least R37,000 per month from a pension fund or an irrevocable retirement annuity or has a net worth or a combination of assets realizing a minimum monthly income of R37,000.
What is the easiest country to retire to?
According to various studies, including International Living, Portugal is ranked as the best country for US expats to retire to. Its friendly population, welcoming community of American expats, excellent weather, safety records, and affordable cost of living are all big draws for retirees.
What is difference between O and OA visa?
The Non-Immigrant Retirement Visa In fact, there is a distinction being made by some between an O-A (which is supposedly only issued at an embassy or consulate outside of Thailand) and an O visa extension based upon retirement (which is supposedly only issued in Thailand).
Can a South African retire in Thailand?
If you wish to retire in Thailand, you will need to need to get a retirement visa, also known as a Non-Immigrant Long Stay Visa. It's possible to do this in Thailand or at a consulate in your home country.
Can a UK citizen work in South Africa?
British nationals who possess specific professional skills that are in demand in the country are able to apply for a South Africa critical skills visa for UK citizens. This is available for different periods depending on the type of work to be undertaken.
How can an American get a job in South Africa?
Visa options for South Africans wanting to live and work in the...L-1 visa: Business (intracompany work visa)H-1B visa: Employment (speciality occupation)E2-Temporary Investment visa and E-1 Treaty Trader visa.EB-5 visa: Investment (Investment Green Card)EB-3 visa: Green Card through employment.More items...•
Can a Swazi work in South Africa?
Do Eswatini Travellers Need a Visa for South Africa? Yes, Swazi citizens need a visa for South Africa for stays over 30 days. As of now, citizens of Eswatini are allowed to enter South Africa visa-free for a period of up to 30 days. This period of visa exemption is granted for activities such as tourism or business.
Can Malawians work in South Africa?
Certificate from the Department of Labour (work visa) Contract of employment signed by the applicant and the employe (work visa) Letter of invitation from educational institution in South Africa (study visa) A letter from the foreign educational institution (study visa)
How do I qualify for a South African retirement visa?
One would need to have access to either a pension, an irrevocable annuity or retirement account which provides you with at least R37,000 a month for the rest of your life or until you leave South Africa.
How long can a retiree stay in South Africa?
The Retired Person’s Visa can be only applied a period longer than 3 months or a period of up to 4 years. The financial regulations are required to be met for the whole period (up to 4 years) that the applicant intends to reside in South Africa.
Who is a retirement visa for?
A retired visa is granted to immigrants wishing to spend their retirement years in South Africa. For immigration to South Africa, under the category of a retired permit, the criteria is based on the premise that the immigrant is not looking to work, study or carry out their own business.
How long can a retiree's visa be extended?
The Retired Person’s Visa can be extended beyond the 4 year period as long the requirements are maintained.
Is South Africa a good place to retire?
South Africa offer potential retirees the high quality lifestyle, value for money and climate that they’re looking for and it comes as no surprise that there’s been an increase in the number of retirees settling in the rainbow nation.
Can a foreigner retire in South Africa?
A retirement visa in South Africa allows a foreign national to live and retire in the Republic.
Is there a retirement visa for South Africa?
The Retirement Visa for South Africa offers excellent benefits for persons looking to retire in South Africa. The country is a popular destination for many retirees as it offers a high-quality lifestyle and excellent climate.
Can a spouse apply for permanent residence?
It is also possible for spouses and children to apply for permanent residence. We advise that the main applicant first obtain his permanent residence status. After that, the spouse (provided they are married for/in life partnership for five years) and children can apply.
How long is a South African retiree visa valid?
The South African Retired Persons' visa is issued on a temporary 4 year basis, and can be renewed indefinitely. Alternatively, holders of this visa may apply for this visa on a permanent basis from within South Africa, once they have been there for at least 4 years.
How long is a passport valid in South Africa?
A passport that is valid for at least 30 days after the expected end date of the visa: 4 years and 30 days in most cases. 2 separate passport photographs. A vaccination certificate if the applicant is planning to travel from or through a Yellow Fever risk area. Proof of medical insurance that is valid for their stay in South Africa.
What is the financial requirement to apply for a retired person visa?
Therefore the Department of Home Affairs impose a minimum guaranteed income requirement of ZAR37,000 per month plus an additional R3,000 for each dependent family members.
Where do you apply for retired persons visa?
Applications must be made in your home country. You may not travel to South Africa and submit a visa application here that involves a change of status.
Can you renew a retired person visa?
Yes, you can. Please be aware though that although referred to as a renewal it is not what you would call a renewal in the strictest sense of the word.
Criteria for a temporary South African retirement visa
Each applicant, both the main applicant and their spouse or life partner, must be able to prove a monthly income of ZAR37 000 for the four years that the visa is valid. The total amount required is ZAR1 776 000 (ZAR37 000/month x 48 months).
Examples of how couples could use their assets to show that they meet the financial requirements for a South African retirement visa
A foreign married couple with no monthly incomes, but with ZAR1 776 000 net capital.
Any questions?
If any of the financial requirements for a South African retirement visa is unclear, call Intergate Immigration to speak to one of our experienced client managers. You can reach our Cape Town office at +27 (0) 21 424 2460 and our Johannesburg office at +27 (0)11 234 4275.
Where to retire in South Africa?
The most popular destinations for those retiring to South Africa are the bigger cities: Cape Town and Johannesburg. Both cities have sizeable expat retiree populations. These cities are particularly popular for retirees from the UK. Other slightly cheaper options that have sizeable expat retirement communities are the Garden District along the southeast coast, Durban, Knysna, Krugersdorp, and Sedgefield. There are a number of retirement villages in South Africa, including retirement villages in Cape Town. There is a list of retirement villages available online.
Why is South Africa a good retirement destination?
South Africa is a popular retirement destination, largely due to warm climates, picturesque landscapes, and affordable living costs. There are continuing concerns about crime rates, income inequality, unemployment, and pollution that affect the quality of life.
What is UPFS in South Africa?
The public system uses a Uniform Patient Fee Schedule (UPFS) which charges patients either full or partial costs, or offers a fully subsidized option, depending on the ability to pay. The Department of Health in South Africa is responsible for public healthcare and oversees more than 400 public hospitals in South Africa.
How many foreign born people live in South Africa?
According to the latest South African census figures, there are around 2.2 million foreign-born residents living in South Africa; that’s just over 4% of the total population. This guide will discuss the main aspects of retiring in South Africa, including topics such as: Who can retire in South Africa. Pensions in South Africa.
How much tax do you pay on a South African pension?
Those retiring to South Africa who are receiving a South African pension, you will be liable to pay tax on annual earnings above R114,800 and at least 18% tax on lump-sum payments above R500,000. South Africa has tax treaties with Australia, Japan, UK, US, Thailand, and Sweden.
How long do you have to live in South Africa to be considered a resident?
Residents are those with citizenship or residence permits, but you’re also considered a resident for tax purposes if you have been living in South Africa for more than 91 days in total in each of the last five tax years and at least 915 days in total across those five years.
What is inheritance tax in South Africa?
Inheritance implications. The South African government levies an estate duty on inheritance in South Africa. It is payable on all estates with a net worth in excess of R3.5 million, at a rate of 20% of the value above this amount.