Business Visa | South Africa
Business PermitAs a country actively seeking foreign investment, Initiate Immigration assists with apply for Business Visa’s to foreign Nationals seeking to conduct business in South Africa.
A Business Visa must be duly procured by foreign nationals wishing to come to South Africa to either start a new enterprise, take on an existing enterprise, or invest in local business.
The minimum investment into the book value of the business is currently R 2,5 million.
In addition the South African Department of Home requires candidates to submit a business plan, outlining the feasibility of the business;
Proof or an undertaking that least 5 South Africans or permanent residents will be permanently employed in the business and an undertaking to register with the South African Revenue Service (SARS).
Business permits are usually granted for and remain valid for a period of up to 24 months. This period may be shorter or longer, depending on the nature of your business, as a general rule of thumb it is very important to provide clear and concise information about your intended business venture in your business plan.
Business permits/visas may be extended by an additional two years, provided applicants can prove that they are still acting in accordance with the original requirements, as outlined by South African Immigration Law.
It is also possible to apply for Permanent Residence once you have obtained the Business Permit. If you wish to do so, you need to provide proof that you have met the initial requirements outlined above on two occasions: first within two years of the issue of your Permit, and then once again after a period of three year.
Should you be seeking Permanent Residence in addition to a Business Visa, be sure to maintain the capital investment in the business: withdrawal of capital may lead to rejection of your application.
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