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bi-monthly
HPASA newsletter. |
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February/March 2011
PERMANENT
RESIDENCY - ON WHAT GROUNDS
CAN I OBTAIN IT?
By Andreas Krensel, Managing
Director, IBN Consulting &
Immigration |
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Andreas
Krensel,
Managing Director,
IBN Consulting & Immigration |
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Permanent Residency
(PR) is the status most foreigners
who decided to stay in South Africa
aim for. It does not only offer security
for future planning but also a certain
level of flexibility at a later stage.
The current legislation allows for
foreigners to apply for permanent
residence on the following grounds:
1. Own business:
If an investor has invested more than
R2.5 million into the book value of
the business and has employed as least
5 locals, he/she will qualify for
permanent residence based on own business.
2. Five year work permit:
If the foreigner has worked for more
than 5 years in South Africa and was
in possession of work permits for
these 5 years, she/he may apply for
direct residence. In addition he or
she must be in possession of an offer
of permanent employment at the moment
of application for the direct residence.
3. Exceptional skills: Applicants
with exceptional skills may apply
for permanent residence based on their
sets of skills. The quality of the
skills must be proven comprehensively
and among other thing, a local authority,
university or professional body must
confirm that the skills are indeed
exceptional. |
4. Spouse or life partner:
Life partners or spouses of South African
citizens or permanent residence holders
may apply for permanent residence. However,
they have to prove that they have been married
for more than 5 years or they are life partners
and have been living together for more than
5 years.
5. Retirement: Foreigners
and their families who intend to retire
in the Republic may apply provided that
the main applicant has the right to a pension,
has an irrevocable annuity of ,or assets
realising more than R 20.000 per month.
6. Financial independence:
An applicant who's worldwide assets exceed
R7.5 million and who is willing to pay a
R75.000 application fee to the Department
of Home Affairs will also be able to obtain
permanent residence status.
Application Processing
The processing times of the Department of
Home Affairs for any application for permanent
residence is currently between 18 and 24
months.
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| Contact
Andreas Krensel,
Managing Director
at IBN Consulting
& Immigration
on krensel@ibn.co.za
| Tel: +27
(0) 21 4222
620 | Visit
the website
www.ibn.co.za |
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