This is a permit issued to foreigners who intend to establish or invest in a business in South Africa in which they may be employed.
A business visa in South Africa is designed for foreign applicants who wish to invest into:
- An existing business, or
- a new business
Foreigners who are contemplating investing in the South African economy by establishing a business or by investing in an existing business in the country must apply for a business permit. As an applicant, you will be required to invest a prescribed financial capital contribution.
The capital requirements above may be reduced or waived in respect of the following types of industries/businesses:
- Information and communication technology
- Clothing and textile manufacturing
- Chemicals and bio-technology
- Agro-processing
- Metals and minerals refinement
- Automotive manufacturing
- Tourism
- Crafts
What is the eligibility criteria?
Qualifying for a business visa can be broken down into 2 areas, the applicants themselves and their good standing and the proposed business.
Below we look at the eligibility of the business.
Investment into the business – there is a minimum investment into the business required of ZAR 5 million. This amount can be reduced with a waiver application for certain businesses.
Creation of jobs – the South African business visa is designed to encourage the creation of jobs and as such the business visa holder must employ 60% of its workforce from South African labour
The success of the business – A thorough business plan is required that will demonstrate the business has every chance of success.
Appropriate company structure – business visa holders are required to have an appropriate legal structure in place.
Contribution to South Africa and good standing – when making an application for a business visa you will be required to make various registrations, these are designed to ensure compliance with tax and workers obligations that you will incur.
Desirable or undesirable – A business visa application will not be successful if the proposed business is of an undesirable nature