The South African political situation has stabilised since President Ramaphosa took over in February 2018, according to Leon Isaacson, Managing Director of Global Migration Group (South Africa).
The company has successfully, for the last twelve years, been providing professional Immigration services to companies and people who wish to locate to South Africa for investment, work, retirement, study and other purposes. ” While the country has many challenges, both political and economic, there is an underlying determination in the South African culture to make things work and uplift peoples’ lives from a socio-economic perspective. We have had a steady stream of international companies investing in South Africa in a range of industries. South Africa offers good local business opportunities and well as opportunities in Africa, due to its location and ease of travel to other destinations,” says Isaacson.
Investors who wish to start up a new business or buy into an existing business will have to prove that they have, after one year, invested an amount of five million ZAR and created jobs for South Africans. There are designated investment areas which are considered to be in the National Interest. In certain cases incentives, financing and other support may be available once the initial investment has been made.
These areas are:
- Agro-processing;Business process outsourcing and IT enabled services;
- Capital/Transport equipment, metals and electrical machinery apparatus;
- Electro Technical;Textile, clothing and leather;
- Consumer goods;Boatbuilding;
- Pulp, paper and furniture;Automotive and Components;
- Green economy industries;
- Advanced Manufacturing;Tourism infrastructure;
- Chemicals, plastic fabrication and pharmaceuticals;
- Creative and Design Industry;
- Oil and Gas;
- Mineral beneficiation;
- Infrastructure Development;
- Information and Communication Technology (ICT).
Retirement: For retirement purposes, the main applicant must show proof of long term income (pension, savings other funds and assets) or have a net worth of R12m (ZAR) in order to support themselves and their family members.
Work Visa- Critical Skills: Like many other countries, South Africa has a shortage of skills in specific areas and seeks to allow foreigners to have a work visa and apply for Permanent Residence in order for them to stay in the country on a long-term basis in order to grow the economy. The skills required are divided into 12 areas of qualification (educational background) which may qualify a person for a Critical Skills visa:
- Agriculture, Agricultural Operations, and Related Sciences;
- Architecture and the Built Environment;
- Business, Economics, and Management Studies;
- Information Communication and Technology;
- Health Professions and Related Clinical Sciences;
- Life and Earth Sciences;
- Professionals and Associate Professionals;
- Business Process Outsourcing(BPO);
- Academics and ResearchersPost-Graduate (PHD obtained locally or abroad).
Global Migration Group can assist with all of the visa, business registration and implementation services through our highly skilled staff and partners in all the major disciplines.