Who is this visa for?
Foreigners who wish to retire in South Africa and receives a steady income of at least R37000 per month from either a pension fund, an irrevocable retirement annuity or from a net worth or a combination of assets realising a minimum monthly income of R37000.
Eligibility Criteria
- Receive a steady income of at least R37000 per month from either a pension fund, an irrevocable retirement annuity or from a net worth or a combination of assets realising a minimum monthly income of R37000.
- A retired persons permit has no age restrictions.
Additional Information
A retired persons permit can be either temporary or permanent. Retired Persons Permits under temporary residency are valid for a period of four years. After four years a request must be made for time extension from Home Affairs.
Under the Retired Persons Visa, permanent applications can be made without needing to first obtain temporary residency. However, it is advised that you apply for both due to the long wait at Home Affairs.
To obtain a permanent permit, you must provide proof of a lifetime monthly income of at least R37000. You must be able to present bank statements as proof of this at the time of application.
For those who are unable to meet the required income levels, a suitable alternative for those with assets over ZAR 12 million would qualify for a financially independent permit.
