Permanent Residence Permit on basis of investing in new or existing business
The applicant must fulfill the following requirements:
- Minimum investment of not less than R 5 million in new equipment or machinery. .
- Have a business plan regarding the feasibility of the short-term and long-term feasibility of the business.
- Minimum 60% of the total staff employed in the operations of the business shall be citizens or permanent residents of South Africa.
- Registration of the business with all relevant Authorities, Funds, Professional Bodies, Councils, and Boards
An applicant investing in an existing business must further provide proof regarding:
- Employment of South African citizens or permanent residents in 60% of all permanent positions in the business, and
- Registration of the business with various authorities as prescribed by the law, and
- Proof of investment in the business in the preceding financial year, and
If the applicant is investing in an existing business as a partner, he or she must submit
- Certified proof of investment, and
- Partnership agreement.
General Information: Contact us to receive more information about this article.
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