As a ZEP Business Permit holder, you have been able to conduct your business in SA on the special dispensation permits, from the inception of these permits more than 10 years ago. You did not have to comply with all the requirements needed for a normal business visa, and you still obtained a permit that allowed you to operate legally in the country.
Although it seemed an “easy” route to obtain a permit to legitimately run your business in the country, it did not come without its own challenges. There have been some limitations over the years such as travel restrictions or challenges with permit verifications for certain destinations where you may have needed to travel for business or pleasure, you have battled to comply with certain statutory registrations required for any expat operating a business in SA, to name a few.
The special permits for Zimbabweans which began with the DZP, then ZSP and now the ZEP, afforded many Zimbabweans the opportunity to regularise themselves. Whilst it was an amnesty programme intended to legalise those who were in SA illegally, it was also to alleviate the asylum system which was flooded with Zimbabweans due to the political and economic crisis in Zimbabwe.
However, the process also saw a number of professionals and business people applying for the special permits as it was perceived as an easier and faster route to obtain a permit and carry out the desired activities in SA. It worked, but as is evident now, and particularly for the ZEP Business Permit holder, the permits had several limitations.
Now, with the discontinuation of these permits and having been afforded the grace period to migrate to a mainstream business visa, which requires full compliance with all the requirements, the temptation not to go through the process again is there.
When one considers what they need to provide to obtain a business visa,it is “ easy” to simply not do the right thing. If you want to continue operating your business in SA, as an expat and beyond your ZEP permit, you need to ensure that you apply for the correct visa, which will allow you to continue legally operating in the country and contributing to the economy at the highest level.
CHALLENGES WITH THE ZEP BUSINESS PERMIT?
- Obtaining long term loans for business expansion has been difficult because of the intermittent fixed periods of the permits
- For those who have obtained loans, the payment terms have been quite stringent, and with the permits coming to end in December 2022, the impact and risks are compounded
- Some have had to still use fronts or have been forced to have locals as shareholders just so that they can comply with statutory registrations required for continued operations
- Travelling abroad has been a challenge for those looking to expand their business opportunities outside SA, as having the special permit verified is a challenge some overseas destinations, or simploy to obtain a visa to travel to certain countries
- With the permits coming to an end in December 2022, some banks and institutions have closed bank accounts despite the Directive issued by Home Affairs, causing huge stress and frustrations on business owners
WHAT NEXT, AS THE ZEP BUSINESS PERSON?
You have the opportunity now, to apply for a mainstream visa. Whilst the special permit allowed you to obtain permission to run your business without having to comply with all the requirements, applying for a Business Visa now, as a ZEP permit holder, gives you the opportunity to apply with a waiver of the capital requirement of R5 million, because, you have been operating for the past 10 years in the country, contributing significantly to the economy.
Therefore, whilst, under normal circumstances, only certain industries can possibly apply for a waiver of the capital requirement of R5 million, as a ZEP Business person, regardless of your industry and provided your application is sufficiently motivated and meeting all the other requirements, you may apply for a Business Visa with the waiver of the capital requirement.
Ensure to use this opportunity, make the right choices that will benefit you and your business in the long run, to avoid a situation again in the future where you are anxious and uncertain of the future. Do not leave things to chance, and ensure to apply for your business visa to ensure your legal stay in the country and that you operate legally, and continue contributing to the economy.
BENEFITS OF A BUSINESS VISA
Applying for a mainstream Business Visa will give you:
1.Security
- You have the opportunity for a longer stay in SA for another 3 years
- You have security on your investments that you have made over the years
- Added security on your long term business loans or mortgage bonds
2.Permanent Residency (PR)
You can apply for PR immediately without necessarily waiting out the tenure of your Business Visa.
You have already been in SA for more than 10 years and still do not have permanent residency, but the moment you have a business visa, you can apply for PR.
- Permanent residency means you now have indefinite stay in SA with no need for temporary residence permits, giving you more security and peace of mind
- You get an ID book with an SA ID number, therefore you have the same rights and duties as an SA citizen
3.Travel
You can travel with little to no restrictions, regionally and internationally, thereby being able to expand on your business opportunities
4.Statutory Compliance
You can do your own registrations and statutory compliance, without having to use fronts, or add other people as Shareholders or Directors to your business, against your wishes
Therefore, take the opportunity now, apply for change from your ZEP Business Permit to a normal Business Visa, with an option for a waiver, provided you do motivate and support your application sufficiently.
If you are a ZEP Business Permit holder and would like to migrate to the mainstream Business Visa, please complete the quick assessment form by clicking on the link below and one of the consultants will contact you
