What is a Business Visa?
The Business Visa is a Temporary Residency Visa that allows a non-South African citizen or resident to take part in business related activities of a new company or an existing company in South Africa. According to the Immigration Act and Regulations, there is no official duration of this visa. The duration of the Business Visa is decided by the official adjudicating the application. In most cases, a Business Visa can be issued to a non-South African citizen or resident for up to 5 years.
Are you eligible for a Business Visa?
A Business Visa is necessary for those setting up a new company or investing into an existing company in South Africa with the intention of being involved in the operations of the business.
What are the main requirements needed to obtain a Business Visa?
An investment of R5 million needs to be invested into the book value of the business within 24 months of receiving your Business Visa.
It is required that at least 60% of the total staff employed are South African citizens or permanent residents of South Africa with permanent positions. Proof of this requirement needs to be submitted within 12 months of receiving your Business Visa.
The applicant must be a shareholder within the South African entity.
Since the law change in May 2014, The Department of Trade and Industries have the responsibility to scrutinize the business in terms of the investment, job creation and feasibility of the company in South Africa. They determine whether or not there is a need for the business to operate in South Africa.
There are certain regulations you are required to follow during your temporary stay in South Africa on your Business Visa. Please contact us for further information regarding this topic.
The first step for a new application is to apply for a recommendation letter from the Department of Trade and Industries. South Africa Immigration Group will attend to this matter for you. This process can take up to 6 months. If you successfully receive a recommendation letter, the next step is to apply for your Business Visa. Your Business Visa needs to be submitted in your home country. Processing times can take up to 8 weeks.
If you wish to renew your Business Visa and you are currently in South Africa on a valid Temporary Residency Visa, you may submit a renewal application in South Africa. You need to have more than 60 days remaining on your current visa for this to be a viable option. Processing times can take from 8 to 12 weeks.
Frequently asked questions about the Business Visa?
Must the required R5 million be invested from abroad?
Yes. The investment should be made from abroad. You have 24 months from issuance of your Business Visa to invest the money into the book value of the business in South Africa.
Does the company apply for a Business Visa?
No. A Business Visa is issued to an individual who has the intention of investing and running a business in South Africa.
Can I run more than one Business on my Business Visa?
The Business Visa allows for only one company to be run by the applicant issued with the Business Visa.
Can I apply for Permanent Residency if I have a Business Visa?
Should you be the holder of a Business Visa and you have compiled with all the conditions on your visa, you are eligible to apply for Permanent Residency.
Can my family accompany me on my Business Visa?
Yes. It is possible to apply to have your family accompany you on your visa.
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