South Africa Financially Independent Permit | A Complete Guide

Overview:

South Africa offers a direct path to permanent residency for individuals with significant assets, known as the Financially Independent permit, or more commonly, the 27f visa.

To qualify for this visa, applicants generally need to meet two key requirements:

1. You must be at least 18 years old, be in good health, and have no criminal record. It’s also crucial that you haven’t illegally entered South Africa or had a previous South African visa rejection.

2. The main applicant needs to demonstrate net assets exceeding 12 million South African Rand (approximately $690,000 USD). Once your visa is approved, you’ll also make a one-time donation of 120,000 South African Rand (roughly $69,000) to South Africa’s Department of Home Affairs.

While bank deposits are the preferred way to show your financial strength, you can also use other forms of proof like real estate, stock accounts, or even cash.

One of the biggest perks of the Financially Independent Permit is that it’s a direct path to permanent residency. This means visa holders can work, live, and conduct business in South Africa with complete freedom and no restrictions.

What’s more, this permanent residence permit comes with very flexible residency requirements: you just need to enter South Africa once within a year of getting your permit, and then once every three years thereafter.

Application Process:

The application process for South Africa’s Financially Independent Permanent Residence is entirely offline and primarily involves two steps:

1. Submitting Your Visa Application

Eligible applicants must gather all required documents, complete the application form, and schedule an appointment with their nearest South African embassy or consulate. On the appointment day, you’ll submit your application and pay a visa fee of 1,520 South African Rand (approximately $88 USD).

Required documents include:

• Applicant Information Documents: This covers valid passports for all main and dependent applicants, passport-sized photos, and documents proving relationships (e.g., birth certificates, marriage certificates). If applicable, main and dependent applicants should also provide records of any name changes or gender changes.

• Application Form: You’ll need to complete a BI-947 application form.

• Visa Fees and Donation: Before your visa is issued, you’ll pay the 1,520 South African Rand visa fee. Once the visa is approved, you’ll draft a donation letter and make a one-time donation of 120,000 South African Rand (roughly $4,720 USD) to the South African government.

• Proof of Assets: Documentation to verify your financial assets.

• Police Clearance Certificates: All main and dependent applicants must provide police clearance certificates from any country they’ve resided in for more than one year.

• Medical Certificates: All main and dependent applicants need to provide a medical report issued within six months of the application date, proof of COVID-19 vaccination, and an X-ray report (pregnant women and children under 12 are exempt from the X-ray).

All documents originating outside of South Africa must be notarized, and any non-English documents must be translated into English. For the most up-to-date and detailed list of required documents, you can always refer to the official source: http://www.dha.gov.za/index.php/permanent-res/10-immigration-services/966-documents-required-financial-independent-applicant.

During the application submission, a South African visa officer may or may not request a brief interview, depending on your specific circumstances.

2. Visa Issuance

The processing time for South Africa’s Financially Independent Permanent Residence typically ranges from four to ten months.

Once you receive notification that your visa has been approved, you’ll first need to complete the donation letter and transfer the 120,000 South African Rand donation before your permanent residence permit is issued.

Throughout this entire application process, you are not required to enter South Africa until you receive your permanent residency.