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.
As immigration attorneys we handle the matter of your South African business permit with unsurpassed skill and years of valuable expertise in matters pertaining to working/investing in South Africa or immigration to South Africa. Click here to discuss with us your application.
A South African corporate permit is issued to a corporate applicant who is operating a business in South Africa and wishes to employ foreigners for such corporate applicant as opposed to an individual person thereby requiring a corporate permit.
A South African corporate permit is issued by the Director-General of Home Affairs in South Africa. After consultation with the Departments of Labour and Trade and Industry who will determine the maximum number of foreigners to be employed by such corporate applicant.
There are a series of financial and other undertakings required to be fulfilled by a corporate applicant before a South African corporate permit would be granted in Cape Town or any other part of South Africa.
Each foreigner employed under a South African corporate permit is regarded as a corporate worker and is required to be in possession of an authorisation certificate as proof of employment by that South African corporate permit holder.
Of importance is that a South African corporate permit holder may also employ foreigners under a South African work permit, which prescribe less stringent processing requirements than a conventional general work permit application. This is the know-how we can bring to you as professional immigration attorneys. Click here to contact us for more information and advice.