Permanent Residency: Financial Independence

The Financial Independent Permit offers immediate Permanent Residence status, affording holders the freedom to retire, establish businesses, work, or pursue education in South Africa. With this permit, individuals gain unrestricted entry and exit privileges, providing a lot of freedom and flexibility.

This permit is designed to attract high-net-worth individuals who wish to become permanent residents in South Africa. This permit makes it easier to become a permanent resident without restrictions on one’s age, nationality, or how long you’ve already been in the country. Once your permanent residency has been accepted, you can do any kind of business in South Africa, even if you don’t plan to stay there forever.

The Financial Independent Permit stands out for its unique advantages. To qualify, you need to have a clean criminal record, good moral standing, and proof of adequate financial resources to cover personal and familial expenses. There is no age limit for the main applicant. Interviews and biometric data are collected as is standard procedure during the application process to ensure everything meets the requirements.

Many people wonder how much money they need to invest to get a Permanent Residency. Well, with the Financial Independent Visa, you don’t have to invest any money directly. Instead, you need to show that you have a net worth of at least R12 million and undertake to pay a fee of R120,000 once your application is approved.

Once your Permanent Residency application has been accepted, there are no immediate residency obligations. However, within a year of receiving your residency, applicants must establish residence in South Africa and visit the country at least once every three years to maintain their status, which remains valid indefinitely.

Adding dependents to the application post-approval is possible but this is a separate process and has potential additional fees. At June Luna Immigration Attorneys, we facilitate seamless transitions to South Africa through our comprehensive services, including assistance with Permanent Residency applications. We guide clients through every stage of the Permanent Residency process, ensuring a smooth transition to life in South Africa for individuals and their families.