Quick Answer: Permanent Residence Financially Independent South Africa
This route grants permanent residence to applicants who can demonstrate a prescribed level of net worth and pay a prescribed fee. It does not require employment, a business or a family connection.
Both the net worth threshold and the fee are set in regulation and change. The threshold is also about demonstrable, verifiable assets rather than a self-declared figure. Requirements.co.za is an independent information website. It is not a government department, immigration practitioner or financial adviser, and nothing here is immigration, legal or financial advice.
Who This Requirement Applies To
This guide is for applicants with substantial assets seeking residence without an employment or family basis.
For other categories, see Permanent Residence Requirements South Africa.
Eligibility Requirements
The assessment is financial, and the evidence bar is correspondingly high.
Applicant type
- Net worth threshold. A prescribed amount. Confirm the current figure officially rather than relying on a published number.
- Prescribed fee. A separate payment is normally required in addition to the application fee.
- Verifiable assets. Assets must be evidenced and valued, not merely declared.
- Certification. Certification of net worth by a chartered accountant is normally required.
- Source of wealth. Evidence of how the assets were acquired.
- Standard requirements. Police clearance and medical reports as for other categories.
Documents You May Need
Financial evidence on this route is scrutinised in the way a substantial transaction would be.
Required proof
- Passport and completed application form for the category.
- Certification of net worth by a chartered accountant.
- Valuations of assets, including property where relevant.
- Bank statements and investment records.
- Evidence of the source of the assets.
- Proof of payment of the prescribed fee.
- Police clearance from every country of extended residence, and medical reports.
Steps to Apply or Prepare
Confirm the current net worth threshold and the prescribed fee before assembling anything.
Arrange accountant certification and valuations, allowing time for both.
Obtain police clearances and medical reports last, then submit with proof of the prescribed payment.
Costs, Processing Times and Validity
The prescribed fee is substantial and is separate from the application fee. Accountant certification and valuations add further cost. Both the threshold and the fee are set in regulation and change, so confirm the current figures rather than relying on published amounts.
Common Mistakes and Delays
Common mistake
- Relying on a threshold or fee figure from an earlier year.
- Declaring assets without valuations or certification.
- Unable to evidence the source of the assets.
- Assuming the prescribed fee is included in the application fee.
- Police clearances expiring while financial evidence is assembled.
Where to Confirm Official Requirements
Confirm the current qualifying conditions, prescribed amounts and process with the Department of Home Affairs. The Official Requirements Sources South Africa page links to the responsible bodies.
Frequently Asked Questions
What net worth is required?
A prescribed amount applies. Confirm the current figure with the Department of Home Affairs rather than relying on a published number.
Is there an extra fee?
A prescribed fee is normally payable in addition to the application fee. Confirm the current amount before applying.
How is net worth proved?
Normally through certification by a chartered accountant, supported by valuations and financial records, rather than by declaration.
Do I need to live in South Africa first?
This route does not depend on prior residence in the way work-based routes do. Confirm the current conditions.
Where can I confirm the requirements?
Confirm with the Department of Home Affairs.