Business Visa

Foreign citizens wishing to invest within the South African economy, by establishing a business or by investing in an existing business within the country will need to apply for a business visa/permit. You will need to have a minimum of R5 million to invest in the business, which must form part of the ‘national interest’ as indicated by Home Affairs.

The Process is as follows:

You will need to fill out the Form Bl-1738 as well as submit a certificate issued by a chartered accountant registered within South Africa.

This is the Criteria:

• A prescribed amount (in cash) to be invested into the South African Republic;
• A submission to the minister of trade and industry; and
• You, as the applicant, will need to confirm that at least 60% of your employment force is South African or permanent citizens of South Africa
• An undertaking to register for the following (if the business is not yet established and running)
  •  The South African Revenue Service
  • Unemployment Insurance Fund
  • Compensation Fund for Occupational Injuries; and
  • Companies and Intellectual Properties Commission
• An additional letter from the department of trade to confirm:
  • The feasibility of the Business
  • Contribution to the national interest of South Africa

Business Visa Applications made for pre-existing business will require these documents:

• Financial Statements for the Preceding financial year
• Proof of registration with
  • The South African Revenue Service
  • Unemployment Insurance Fund
  • Compensation Fund for Occupational Injuries; and
  • Companies and Intellectual Properties Commission

The facts Explained:            

Financial Contribution:
A R5 000 000.00 investment is the minimum investment accepted by the Department of Trade and Industry without a waiver document.

Cornerstones and Requirements that will need to be met:
Business Investment Contribution
The minimum of Five Million Rand is to be paid – unless you choose to get this reduced via a waiver application (Select few Businesses)

Job Creation
This Visa is designed to promote job creation within the republic of South Africa. Therefore, a minimum of 60% of your work force will be citizens of South Africa

Business Success
An accurate business plan will be required to showcase the success of your business and the roadmap detailing how it will achieve this.

Company Structure
A legal business/company structure will need to be set in place.

Contribution to the Republic of South Africa
Required registrations will need to be filled out – allowing you to comply with tax and workers requirements/obligations that you will be held liable for.

Desirability
Application for your Business Visa will be rejected if the business proposal is deemed undesirable.

Your Business Visa will be issued for 3 years if all requirements are met.

June Luna Immigration Attorneys would love to make your application for a business Visa one bearing the fruits of success. Contact us today to find out how we can make this happen.