Introduction
Having a Business Visa can be life changing for you as a business owner in South Africa as it opens a world of opportunities in terms of your business operations and/or business opportunities. Acquiring this visa means that you can fully run your business independently in the country. The added advantage is that you immediately qualify for permanent residency as soon as you obtain your Business Visa, without the need to wait for any period.
The benefits of having SA permanent residency (PR) are limitless. You are no longer required to renew the Business Visa and you can fully run your operations without fear or anxiety of your visa coming up for expiry. If you are on a special permit such as the Zimbabwe Exemption Permit (ZEP) Business Permit, you can apply for change to the Business Visa, provided all requirements are met, and immediately thereafter, also qualify for PR, which you cannot do on the ZEP Business Permit.
What does it mean not to have a business visa?
- You cannot obtain long-term loans, purchase equipment or machinery needed to advance the growth of the business
- It is difficult for you to adhere to statutory regulations compliance (e.g., SARS), and non-compliance adversely affects the business
- You cannot independently run or invest in a business, and if you are able to do so, you are limited in terms of the extent of your involvement in the business which can be very frustrating for you
- You may need to use third parties as fronts (SA citizens/Permanent Residents) to get operations going
- There is a high risk of losing your investments or being bought out of your own business
- If you are on a special permit, because of the conditions on the permit, you may have limitations on how far you can expand your business operations, access to long-term loans may be an issue and even opportunities for tenders and other business ventures may be hindered.
The benefits of having a business visa
1. Diversified sectors and industries in SA
South Africa’s investment potential lies in its diversity of sectors and industries and wealth of resources such as coal, gold, iron ore, uranium, manganese, and chromium and as a foreign business owner, having a business visa in SA means that you have access to:
- A unique combination of developed-world infrastructure and logistics networks
- A diversified and growing emerging market economy
- A sophisticated banking sector with a major footprint in Africa
2. Gateway to Africa
Having your business in SA, which is one of the big economies in Africa and is considered as the gateway into Africa, perfectly positions you to expand your operations into the African market.
3. Visa issued for three years and can be renewed
The Business Visa can be issued for a maximum period of 3 years and is renewable in SA, giving you stability to run your business in SA on a longer term.
4. Permanent Residency
- You also qualify for PR immediately without having to wait for any period as soon as you obtain your Business Visa.
- The added advantage is that you can still use most of the documentation from your initial Business Visa application if the application for permanent residency is made within the same year, taking away that administrative burden from you to obtain these documents all over again.
- Having permanent residency means:
- There is no more need for temporary visas
- You can stay permanently in SA
- You have all the benefits of an SA citizen (except the right to vote)
- You have better options for access to long-term loans for the expansion and improvement of your business
5. Accompanying family can join you
Accompanying family members can obtain visas with the main applicant on a Business Visa. Thereafter, they can also apply for permanent residency simultaneously with you as well.
Testimonial – benefits of a Business Visa
We have a client who was on a special ZEP Business Permit. Although the permit has allowed him to legally operate his business in SA over the years, there have been many hindrances in terms of business opportunities, growth, access to benefits and business opportunities. Furthermore, his desire has always been to be a permanent resident in SA and tap into the benefits of having SA permanent residency as a business owner, but because he had the special permit which hinders one from progressing to permanent residency, he had to apply for a change from the ZEP Business Permit to a normal Business Visa, which was issued for three (3) years. Immediately upon obtaining the new Business Visa, which was issued within one year of application, he will now be proceeding with submitting with his application for PR, once the applications resume in January 2022.
He is so excited that he can now finally apply for PR and get that status which will afford him all the rights and duties of an SA citizen, and he will have access to all the opportunities to expand his business operations in SA.
If you would like to operate a business or are thinking of investing in an existing business in SA and need our assistance with a Business Visa and/or permanent residency as a business owner, please click on the link below and provide us with your information and we will call you for a quick assessment.
