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South African Visa Financial Requirements | Immigration Law 2014

On June 4, 2014 / by Andrew Wicks / Leave a comment

Financial Assurance For Relatives Visas

The financial assurance which a South African Citizen or permanent resident has to prove in respect of a foreign applicant applying for a visa to accompany the individual in South Africa, shall be an amount of no less than R8 500.

Minimum Net Worth

A foreign applicant who would like to apply for permanent residency under the category of ‘minimum net worth’ will have to provide proof of his/her net worth to the amount of R12 million, and the amount to be paid to the Director-General upon the permanent residency being approved is R120 000.

Proof Of Finances For Visa Applications

The proof of finances which one has to provide for your visa application must be in the form of a 3 month bank statement, confirming that you have R3 000 available. Should you wish to prove cash available, this must then be a minimum of R3 000.

Financial Undertaking By Corporate Companies

When a corporate holder submits a financial undertaking (repatriation undertaking) for its corporate workers, the amount which has to be confirmed as the financial undertaking will be R30 000 per corporate employee that will be employed by the corporate holder.

Retired Persons Visa

A foreign applicant applying for the retired persons visa has to prove that he or she receives a minimum amount of R37 000 per month, this is for a pension fund, irrevocable annuity or retirement account.

New Administrative Fines:

  • Should one produce incorrect certification through negligence, you will be fined R7 000.
  • A person who is in charge of a conveyance, and through negligence contravenes the provisions, will be fined R15 000 per person.
  • The owner/person in charge of a prescribed conveyance entering into, or departing from or in transit through the Republic of South Africa, shall comply with the provisions by enabling electronic transmission and receipt of the prescribed information to the Director-General in the prescribed manner, failure to comply with this provision will be liable to an administrative fine of R10 000 per movement of conveyance.
  • The owner/person in charge of a conveyance entering into, departing from or in transit through the Republic of South Africa, shall within the prescribed period prior to boarding persons onto his or her conveyance, electronically transmit the prescribed information to the Director-General in respect of each person, failure to comply with this provision will incur an administrative fine of R5000 per person.

 

  • The owner/person in charge of a conveyance shall act in accordance with a boarding advice issued by the Director-General in respect of each person contemplated, failure to comply with this provision will incur an administrative fine of R50 000 per person.
  • The owner/person in charge of a conveyance entering into, departing from or in transit through the Republic of South Africa by air or conveying persons on domestic flights within the Republic of South Africa, shall comply with the provision by enabling electronic transmission of the prescribed passenger name record information in respect of all person booked to travel on his or her conveyance to the Director-General, failure to comply with this provision will result in an administrative fine of R15 000 per person.
  • The owner/person in charge of the conveyance mentioned above shall, within prescribed period and prior to the scheduled time of departure of his or her conveyance, electronically transmit the prescribed passenger name record information to the Director-General; transmission of inaccurate information shall result in an administrative fine of R5000 per person.
  • Transmission of inaccurate information from the conveyance, which will hinder the achievement of the objectives by the Director-General will incur an administrative fine of R15 000 per person.

Updated according to the Immigration Act as amended in 2014

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Andrew Wicks

Andrew Wicks

Over the past 11 years, Andrew’s entrepreneurial spirit, as well as his business acumen, has led to the establishment of small to medium enterprises worldwide. Promising opportunities in the fields of IT, mobile distribution and advertising (amongst others) have been converted into successful business units in a variety of global markets. Andrew returned to South Africa after seven years in Europe to found Initiate International. He remains totally hands-on and has expanded the company across three continents.

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