Retire to South Africa

Find your place in the sun and retire to South Africa

The temporary residence permit for retirees is granted for up to 48 months, and may be renewed on expiry.The main criterion is financial; it is necessary to prove that you have sufficient income or a minimum prescribed net worth. You must be able to prove that you have an income of ZAR 20,000 per person per month which can consist of the following:

The right to a pension or an irrevocable annuity or retirement account, from your country of origin, which will give you a minimum payment of ZAR 20,000 per month for the rest of your life; or

Demonstrating a net worth of no less than ZAR 20,000 per month through a combination of assets

It is worth noting that a temporary retirement permit can also be endorsed so as to allow you to work should you later secure employment.

Realities of Retiring to South Africa

Stress free lifestyle in the sun

South Africa conjures up many images in one’s mind – from roaming herds of elephant, to exotic cultures, music and a vibrant lifestyle. The country’s profile has also recently been raised by its hosting of the 2010 FIFA Soccer World Cup, and it is increasingly a destination for retirees seeking a stress-free lifestyle in the sun.

South Africa provides affordable luxury for would-be retirees too. Beautiful homes are available for almost any Western budget, having household staff is the norm even in modest households, and enjoying access to world-class dining and sports opportunities is available for everyone who chooses to live in South Africa. This rich and exotic country is located at the southern tip of Africa bordered by Namibia, Botswana, Zimbabwe, Mozambique, Swaziland and Lesotho.

The country is large and temperatures and climatic conditions vary, but in general the climate is pleasantly warm. Summer lasts from October to February, with sunny days that may include brief, heavy showers in the afternoons (known as the rainy season). Fall is between February and April and is a little cooler than summer, while winter (May to July) has sunny days and relatively cold nights.

The current exchange rate between the US Dollar and the South African Rand is 1:7 meaning that you will get more for your money in South Africa; though there is less difference between the cost of living in certain South African cities and similar cities in Europe and the US – so you have to be careful about choosing where exactly you set up home if you’re on a tight budget.

Food in South Africa is slightly cheaper than in America, but this depends on your choice of whether to eat locally produced food (which is of exceptional quality) or imported items. A modest budget would need to include rent – ranging from US$500 to US$650 per month – and food, ranging from US$250 to US$360 per month. So, on a budget of just US$2,000 per month it would be perfectly possible for a couple to rent a very decent apartment or house, eat well, pay for utilities, cable TV, heating costs (where required), sports and holiday expenses, restaurant meals, newspapers, and car maintenance and insurance for one vehicle.

With many things to attract people of all ages and nationalities to relocate to live in South Africa, there are also a number of things that retirees in particular should take into account when considering this particular nation. These include residency requirements, health care, opportunities for income generation and investment opportunities, and overall lifestyle.

In the case of residency, South Africa is one of the more open retirement options. South Africa welcomes retirees, providing a ‘Retired Person’s Residence Permit’ on a temporary or permanent basis – provided that certain financial criteria are satisfied. Potential retirees must provide proof of lifelong pension or other form of income. Immigration takes the form of either a temporary or a permanent residence permit.
Temporary permits are granted for four years, and are renewable indefinitely for four-year periods as long as the criteria for their having been granted remains valid; while permanent permits afford permanent residents the same rights and privileges as those with South African citizenship, with a few key exceptions, most notably the right to vote.

In both cases, South African Retired Persons Permits are based upon financial criteria and unlike a South African Work Permit, no prior job offer is required before an application can be made, meaning that unlike temporary South African visit visas, retired people are permitted to work if they wish, though applicants wishing to work will need to submit an employment contract and demonstrate that no South African citizen or resident is available for the position in question.

While the term “retired person” is used, no age restriction is applied for immigration under the type of visas described. There is no specified amount that a retired person must bring to South Africa when immigrating either. The immigration criteria for retired permits is based on available income and capital – this income and capital can be from anywhere in the world and there is no obligation for these funds to be brought into South Africa.

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South Africa

offers a diverse number of reasons as to why it has become first choice of so many people looking to retire:

Fantastic climate
Unrivalled scenery
Unique tourist attractions
International array of restaurants and shopping facilities
Some of the worlds finest golf courses
Affordable and luxurious housing
The low cost of living
Excellent health care facilities
Diverse culture
A standard of living that is unreachable for many who live in countries such as the UK and Germany

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