A retired or financially independent person may apply for temporary residence in this category provided they comply with the requirements set out below which are coupled to a lifelong right to a pension or an irrevocable retirement annuity or prescribed minimum income off investment or if the applicant has the prescribed financial resources to qualify in the financial net worth category.
The monetary requirements are as follows:
- Retired persons: a pension yielding a minimum income of R37 000 (Thirty Seven Thousand Rand) per month per person or an irrevocable retirement annuity delivering this amount or a combination of assets delivering this amount monthly (from a non-employment related source).
This kind of visa does not allow an applicant to be able to conduct work.