Business Permit

Temporary Residence

The Business Permit for Entrepreneurs, formerly known as “Own Business Permit” is issued to a foreigner, who wishes to establish a new business in South Africa, invest in or take over an existing business. The applicant will need to fulfill the following main requirements:

1. The previous or intended investment from abroad into the book value of the business of:
a. R 2.5 million in cash;
b. a capital contribution of at least R 2.5 million; or
c. at least R 2 million in cash and a capital contribution of at least R 500 000

2. Creation of permanent employment for at least five South African Citizen or Permanent Residents in the job creation of the company.

3. A comprehensive business plan outlining the feasibility of the business, both in the short and long term

If the investment is lower than R 2.5 million it may be reduced or waived with, either a recommendation by the Department of Trade and Industry or proof that the business is within an industry which is in the national interest as declared by the Director General.

Permanent Residence

A foreigner may obtain a permanent residence permit on the basis of establishing, investing or taking over an existing business. The material requirements are the same as those for a temporary residence business permit, however, the processing time of application and the procedure differs from the latter. It is possible – if not even recommended – to apply for such permanent residence permit simultaneously with the temporary business permit.