South African Retired Person Permit
A South African retired person permit, which can also be called a Retirement Permit, may be issued to any foreigner who intends to retire in South Africa, provided that such foreigner is able to prove a financial status in the form of a right to a pension, irrevocable annuity, or requirement account.
A foreigner seeking a South African retired person permit will have to provide proof that he or she will derive an amount of R20 000 per month as an income for the rest of his or her life or a net worth equivalent to a combination of assets that will realize R20 000 per month to be granted this permit.
The South African retired person permit is valid for a period of 4 years and is renewable. This permit will also allow a foreigner to sojourn into South Africa on a seasonal or continual basis for more than the standard 3 month limit. For this reason it has found favour with many foreigners who are financially sound and require the flexibility of retiring and still residing in other parts of the world. Contact Craig Smith & Associates, professional immigration attorneys based in Cape Town, South Africa, for more detailed information or to apply for a Retired Person Permit South Africa.