Initiate Immigration South Africa - Entrepreneurs visa
In most cases a Business permit for foreign entrepreneurs are issued for a periods leading up to 24 months with a possibility of renewal. Entrepreneurs to be able to qualify for this type of South African Business Visa you will need to invest a specified financial amount into either and existing business venture or a business venture, please ensure that you have:
Invested a minimum of R2.5 million cash, or
A minimum of R2.5 million seeding capital injection into the business, or
At minimum of R2.5 million cash plus hald a million Rand capital contribution to the capital net worth of the enterprise within a 2 year period.
Please be aware of:
The investment is to be initiated from abroad.
To qualify for an entrepreneurial business permit you need to provide the following documents on top of your normal residency application:
A feasible business plan.
An ability and undertaking to employ at the very least 5 or permanent South African residents for the duration of the commercial enterprise.
Proof of (SARS) South African Inland Revenue Service company registration.
Please note:
It is important to know that the permit will be issued for a maximum period of 2 years and can thereafter be renewed for a 2 more years if so required.
If you are not able to satisfactorily prove within a 2 year period of permit issuanse, and 3 years hence that the required financial contribution is still institutionalised in the company, the permit will be withdrawn. Therefore its crucial that good all financial records are up to date and all Tax matters in accordance with the Receiver of Inland Revenue.
If you need advice or require help with Entrepreneur visa application please contact Initiate Immigration on +27 (0) 21 465 2000 or via email: contact@initiateimmigration.com.