24 Nov Immigrating to SA and Want to Buy or Rent a Property

Immigrating to South Africa and want to rent or maybe even purchase a property?

Considering the exchange rate of the South African rand to most currencies, it is no surprise that many properties are now being invested in by foreigners entering South Africa.

Buying property in South Africa:                                  

Property in South Africa can be owned by a person or a company and even as a non-resident it is possible to purchase property in South Africa.

Of course, when purchasing property as a foreign individual, we highly recommend applying for a longer-term visa – which can not only qualify you for a bond/mortgage, but also gives you longer term stays in the country and access to a South African bank account.

Renting out your property can be lucrative and a great way to earn passive income. However, you will need to have some sort of temporary residency and resident bank account for your monthly rental amount to go into – unless you work through an estate agent.

Renting property in South Africa:

If you don’t want the commitment and hassle of owning a property whilst abroad, renting a property for your short-term stay is always an option.

Renting property whilst on a tourist visa is not always easy – and you may need to pay for the full rental amount in order to qualify for the rental. If you intend on paying monthly, it is likely that the rental agency will want you to have some sort of temporary residency and proof of income.

If you are an undocumented foreigner in South Africa (in other words, no visa or a visa that has expired), a landlord cannot legally rent to you or they could face criminal charges in terms of the Immigration Act – including fines and sometimes, jail time.

If you have any inquiries about renting/buying of property as a foreigner – or you are renting/selling your property to a foreigner, please get in touch with us.