Permanent Residence in the Business Category
An applicant who wishes to apply for permanent residence in the business category must show a prescribed financial contribution of at least R 5 million from abroad into the business in order to be able to qualify in this category.
Additional requirements for permanent residence in this category would include a business plan outlining the feasibility of the business and certain undertakings relating to at least 60% of this total staff compliment being South African citizens or South African permanent residence.
The capital investment amount may only be waived if or reduced if the business falls within one of the sectors prescribed to be in the national interest as determined by the department of home affairs in consultation with the department of trade and industry and this includes the following business sectors:
• Business process outsourcing and IT enabled services.
• Capital/transport equipment, metals and electrical machinery apparatus
• Electro technical
• Textile, clothing and leather
• Consumer goods
• Pulp, paper and furniture
• Automotive and components
• Green economy industries
• Advanced manufacturing
• Tourism Infrastructure
• Chemicals, plastic fabrication and pharmaceuticals
• Creative and design industry
• Oil and Gas
• Mineral beneficiation
• Infrastructure development
• Information Communication Technology
Under each of the above mentioned categories there are further subcategories that would specifically qualify a business to fall within the national interest. To determine whether you qualify into one of the proposed categories please do contact us confirming which category mentioned above your business would fall into. We could then conduct an appropriate assessment in respect of this business visa category.