A South African business permit may be issued to a foreigner who intends to establish his or her own business or invest in an existing business in South Africa a minimum of R2.5 million from abroad into such business provided such funds are certified by a registered accountant to remain part of the underlying book value of the business.
The Department of Home Affairs in South Africa must be satisfied that the business is legitimate in terms of business plans, SARS and other registrations, where necessary, and undertakings that a minimum of five citizens or permanent residents will be employed, in the application process of a business permit.
Certain sectors of industry business in South Africa that are considered to be material to local enterprise and development like information technology, tourism industry, clothing and textile and other industries consented to by the Department of Trade and Industry, will allow the Director-General to waive or reduce the above investment amount in terms of the South African business permit.
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