With its natural beauty, quality healthcare, and affordable lifestyle, South Africa is considered a great retirement destination. If you are looking to retire in South Africa, the retired person’s visa could be your pathway to long-term residence. As expert immigration lawyers in South Africa, Lee and Truter Attorneys can guide you through this process.
Understanding the Retired Person’s Visa
This visa is designed for people who wish to reside in South Africa during their retirement years without seeking employment and is open to those who can demonstrate sufficient financial means to support themselves while living in the country.
The retired person’s visa can be issued for up to four years and can also lead to permanent residence, depending on your financial status and long-term intentions.
Financial Requirements for the Visa
To qualify for the visa, you need to show proof of a minimum monthly income of ZAR 37, 000 (approximately $2, 000 / £1, 500 / €1, 800). This income can be derived from various sources such as pensions or annuities, retirement accounts, investments, rental income, or other guaranteed income. If you do not have a monthly income but possess sufficient net worth, you need to show proof that the funds are capable of yielding at least ZAR 37, 000 per month.
Retired Person’s Visa in Practice
In practice, the financial requirements for the retired person’s visa can be tricky, especially when based on your net worth alone. Often, what is or isn’t accepted as sufficient financial means depends on where your application is being submitted.
Furthermore, while there is no age restriction for the retired person’s visa, it is definitely taken into consideration, especially if you are not of retirement age or if you are still working.
With years of experience in immigration, Lee and Truter attorneys are familiar with both the Department of Home Affairs and various South African missions abroad and can provide in-depth guidance in this regard.
Pathway to Permanent Residence
Being the holder of a retired person’s visa does provide you with a pathway to permanent residence in South Africa, provided you are able satisfy the financial requirements. While the minimum monthly income of ZAR 37, 000 remains the same, the sources of income are scrutinised more strictly.
Anything Else?
While the retired person’s visa does not allow you to seek employment in South Africa, it can be endorsed to allow you to work in limited circumstances, such as in a consultancy or advisory capacity.
Should you be immigrating to South Africa as a family, visas can also be issued to your spouse and children.
Should you wish to discuss whether the retired person’s visa is right for you, please get in touch with Lee and Truter Attorneys. We look forward to guiding you with expertise and care.