Financial Independent Permit (Permanent Residence)
This program grants permanent residency directly and therefore allow successful applicants to work, study or manage their own business in South Africa. This program requires a minimum net-worth of ZAR 12,000,000 (USD 820,000) and typically requires 8 months of processing.
Advantages Permanent Residency in South Africa
- Reside, work, study, retire and start a business in South Africa
- Grants permanent residence status in South Africa, thereby having all the rights and duties of a South Africa citizen (except the right to vote)
- Grants the possibility to apply for a Non-Citizen Identity Book
- No age requirement and open to all nationalities
- No investment or residency required
- Valid indefinitely
- Dependents can be included:
- Spouse /Life-partner in a spousal relationship for over 5 years
- Children up to 21 years
- Any age if medical dependent due to handicap or such but must be confirmed by doctors.
- South Africa is a business hub on the African continent with a fast-paced real estate market, exceptional private healthcare and developed tourism industry
Pathway to South African citizenship after 10 years, or sooner with sufficient motivation
- Proof of the prescribed minimum net worth of at least ZAR 12,000,000
South Africa Permanent Residency Requirements
- The applicant must not be a prohibited or an undesirable person
- Must not have been refused entry into South Africa
- Should not have entered or stayed illegally in South Africa
- Must have sufficient economic means to cover their personal and family living expenses
- Pay an application fee of ZAR 120,000 directly to the Director General upon approval of the application
- Once the application is granted, the applicant must enter South Africa at least once every 3 years
Process (8 months)
- Prepare all application forms, supporting documentation and payment of application fee
- Submission of application, in person, in the applicant’s country of origin, permanent residence and long-term temporary residence
- Once approved, payment of ZAR 120,000 to the Director General
- Successful applicants will immediately receive permanent residence status in South Africa
FAQ
The financially independent permit program is designed to attract high-net-worth individuals, which grants direct permanent residency to applicants. Successful applicants can work, retire, study, or manage their businesses in South Africa. Suitable for those who can survive without an income inside the country, regardless of their age, nationality, or desire to live permanently in South Africa.
To qualify for permanent residency, the primary applicant must:
- Have a minimum net worth of ZAR 12,000,000 (USD 820,000)
- Make payment in the amount of ZAR 120 000 (USD 6800) to the Director-General upon approval of the application
- Be of good and sound character
- Be without a criminal record
- Not have been refused entry into South Africa
- Not have entered or stayed illegally in South Africa
- Must have sufficient economic means to cover their personal and family living expenses
There is no age limit for the main applicant. Children over the age of 21 years are not eligible to apply as dependents.
- Spouse/life partner in a spousal relationship for over 5 years
- Children up to 21 years of age
- Medically dependent at any age due to handicaps or other situations, but must be confirmed by a physician
Yes, each applicant over 18 must provide an original police clearance certificate issued by the police or security authority in each country where they resided for 12 months or longer after attaining the age of 18 years except for South Africa. The certificate shall not be older than six months at the time of its submission and will need to be legalized/apostilled.
A minimum “net worth” of ZAR 12,000,000 (USD 820,000), which is the total wealth of an individual taking into account of all financial assets and liabilities needs to be proved for purposes of the application.
Documentary evidence in the form of proof of immovable property, movable property, investments, cash/cash equivalents should be provided as proof.
All documents issued by the issuing authority of the country of origin shall be original or certified copies and where applicable translated into English, which translation shall be certified as a correct translation by a sworn translator.
Prohibited persons or undesirable persons are prohibited from applying for permanent residence. Only upon successful upliftment of the undesirability or prohibition status’ can a foreigner be eligible to apply for permanent residence.
Yes, this is possible, however, they are to be added to the application after the residency certificate is issued. An application pack must be submitted and additional fees where applicable.
Yes, an interview may be conducted upon submission of the application at the embassy or consulate. Biometrics will also be taken and all persons are required to submit their permanent residence permit applications in person
The processing time is approximately 6 -18 months
There is no residency requirement for permanent residence permits. However, holders of Permanent Residence permits are required to take up residence in South Africa within 1 year of issuance of the permit. Additionally, they are required to enter South Africa at least once every 3 years.
No, the Permanent residency permit does not expire and remains valid indefinitely.
Yes, the Director General may withdraw a permanent residence permit if its holder:
- Is convicted of any offences in terms of the Immigration Act
- Has failed to comply with the terms and conditions of his or her permit
- Has been absent from the Republic for more than three years, subject to certain exemptions
- Has not taken up residence in the Republic within one year of the issuance of such permit
Yes, permanent residence permit holders will be eligible for citizenship after 10 years but can apply sooner with sufficient motivation
You will only be issued with a Permanent Residence Permit certificate which will be activated once you enter South Africa. No new Permanent Residence Certificate will be issued if lost and only a confirmation letter will be issued as a replacement.
The mandatory ZAR 120, 000 must be deposited in the Department of Home Affairs’ account upon approval. HLG SA will provide account details for payment
The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Such information is subject to changes without notice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation. For an evaluation of your personal circumstances one of our legal team would be happy to assist.
