Beyond investment requirements, Business Visa assessments concentrate upon the entrepreneurial attributes of the prospective candidate, and the eligibility criteria also focuses on the creation of jobs for South African citizens or permanent residents – the more you can contribute positively to South Africa's economy, the more likely your visa will be approved.
What are the Benefits of a Business Visa?
The Business Visa is one of many temporary resident visas for South Africa which allows applicants to migrate for a period of 24 months, and can be extended indefinitely provided that visa requirements continue to be met. A Business Visa is also a pathway to Permanent Residency and eventual Citizenship.
Who is Eligible?
Immigration via this route requires a minimum capital investment in an existing business or a new venture of R2.5 million (around £175,000).
A further key requirement is that, over a five-year period, the enterprise must create at least five employment opportunities for South African citizens or permanent residents.
Candidates emigrating via this route must also satisfy the following criteria:
- A detailed business plan must be submitted.
- The applicant must be employed in the investment or entrepreneurial venture.
- Evidence must show the investment capital originates from abroad.
- Documentary evidence of the applicant's business experience and entrepreneurial skills must be submitted.
- The applicant must register with the statutory body for the relevant business sector.
Business permits may be revoked if an enterprise does not continue to perform satisfactorily.
Our Business Visa experts at Brighter Candidates have almost 20 years' experience, and can advise on document presentation and guide you through the application to put forward a sound case to the Immigration Authorities.
Can I Bring Dependents?
Business Visas are classified as temporary residence permits. However, since such visas can be extended and may ultimately lead to permanent residence status, it is likely successful candidates establishing, or investing in, a South African business will remain in the country for some years, or indefinitely.
As a result, the immigration of a spouse or partner and dependent children is permitted. Dependents will be granted Visitor Visas to emigrate for the same length of time as the Business Visa holder, and therefore do not need to apply for a South Africa Relatives visa. If you then wish to take your emigration process to the next stage, simply speak to our Cape Town office about sponsoring your family to allow them to gain permanent resident status.
February 12, 2015