South Africa is a great nation with faster growing economy. It is been very lucrative for foreigner investors who want try their luck in the land of diamonds. Republic of South Africa introduced business visa is for foreign applicants who are willing to invest into:
An existing business, or
A new business.
It gives entry and staying opportunity to the overseas businessmen who are intending to invest in the South by setting up a new business or by enhancing the old one. In order to get the business visa one must have enough capital in their hand. For different type of business there are different limit of capital investments. Followings are the applicable industries:
- IT industry
- Metal and mineral refinement
- Automotive manufacturing
Investing in a new business – The minimum investment required in a new business is Five million South African Rand. The investment is subjected to change. It also can be lessen with proper application.
Formation of new job market – It is planned to enhance the job market. So, the holder of the business visa has to recruit sixty percent South African of the total employees.
Successful business – overall business agenda is mandatory demonstrating the business success rate.
Apt structure of company – Business Visa holder must legally have a proper structure with them.
Contribution to the country –During application lodge, applicants need to do various registrations, which are planned to assure the contribution towards country’s economy developing.
- A duly filled DHA-1738 application form signed by the applicant.
- Two passport size photos
- Medical report
- chest X-ray
- Flight itinerary
- Proof of capital contribution
- Chartered Accountant certifying the investment is available and originated from abroad
- Registration with Revenue Service of SA
- Unemployment Insurance Fund
- A letter of recommendation from the Department of Trade and Industry has to be provided where the contribution of the business to SA economy has to be mentioned clearly. Along with that they have to proof the possible success rate of business through proper agenda.
- A certificate has to be issued by any South African certified charter accountant. The certificate should be consisting of the total amount of capital that can be invested and the proof of financial support has to be attached.
Processing time: 2 – 3 weeks