Doing Business in South Africa – Business Permits Visas for South Africa – A solution for entrepreneurs and investors.
Business Visas and Permits are meant for Investors and Entrepreneurs wanting to invest or open a business in South Africa. In order to apply for a business permit in South Africa a business plan has to be drafted. In addition a certain amount of money has to be invested.
As South Africa is a country actively seeking foreign investment, Initiate Immigration assists with applications for Business Visas to foreign nationals seeking to conduct business in the country.
A Business Visa must be acquired by foreign nationals wishing to come to South Africa to start a new enterprise, take on an existing enterprise, or invest in local business.
The following is required to apply for a business permit:
- A minimum investment of: (The minimum amount has not been released yet)
- A business plan establishing the feasibility of the business
- Confirmation that 60% of the staff will be South African or Permanent Residents of South Africa
- Registration with the South African Revenue Service.
- Unemployment Insurance Fund (UIF>
- Compensation fund for occupational injuries and diseases
- Companies and Intellectual Properties Commission (CIPC)
- Relevant professional body/board/council
Business permits are usually granted for and remain valid for up to 36 months, subject to the nature of your intended business.
Business permits/visas may be extended, provided applicants can prove that they are still acting in accordance with the original requirements, as outlined by South African Immigration Law.
After being issued with a Business Permit, you may then also legally proceed to apply for a Permanent Residency Permit. In order to do so you will have to meet all the requirements outlined above.
Should you be seeking a Permanent Residency Visa in addition to a Business Visa, be sure to maintain the capital investment in the business: withdrawal of capital may lead to rejection of your application.
For assistance in your visa application process or advice from one of our consultants, feel free to contact us at contact@initiateimmigration.com.
Updated according to Immigration Act 2014