Retirement in South Africa offers foreign expats the opportunity to enjoy their retirement years in a popular destination that is known for its favourable climate, cultural diversity, affordable cost of living and popular tourist attractions.
In order to qualify for a Retired Person Visa, one must be able to prove a monthly income of R37 000.00 that must be proven in the form of:
Pension or retirement income
Annuity income
Combined assets
Interest earned
Rental income
Dividends
Profit shares
FINANCIAL INDEPENDENCE
Should you not be able to comply with the above requisite requirement for a Retired Person Visa, a suitable alternative may be a Financial Independence permit, and if you are able to prove a net worth of at least R12 million and readily available deposit of R120 000.00.
WHY US?
Xpatweb has an experienced and dedicated team of immigration specialists, master tax practitioners, commercial attorneys, chartered accountants and mobility practitioners. Our competitive advantage is adding a layer of tax optimisation to the process thus always ensuring tax and residency implications are taken into account.
Don’t meet the retirement visa requirements? Our partners at Africorp Advisory Solutions can assist. Learn more here.
RESIDENT EXPERT: WHAT ARE THE ADVANTAGES OF PERMANENT RESIDENCY?
If you are an expatriate in South Africa, applying for a work permit can be a time-consuming process. This leads many to ask whether it is more beneficial to apply for permanent residency sooner.
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Kindly note that our offices are closed between 25 December 2024 and 1 January 2025 and as such there will be a delay in our normal expeditious response times. Our teams are taking a short festive season break and will address your query upon their return on Thursday, 2 January 2025.
