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Below is an explanation of what must be done: 1. Compliance with Initial Visa Conditions When a business visa is granted, certain conditions must be met and maintained throughout the visa's validity period. These conditions typically include: a) Minimum Investment Requirement • The applicant must have invested at least R5 million (previously R2.5 million in some cases or less if such investment was waived ) in their business. • This amount must be from foreign direct investment (FDI) and must be invested into the South African economy. • The funds should be used for business operations, including capital expenditures, inventory, infrastructure, and expansion. • If the initial investment was approved with a waiver of the full R5 million requirement, any specific alternative conditions granted by the DHA must still be followed. b) Business Structure & Operation • The business must be registered with the Companies and Intellectual Property Commission (CIPC) as a (Pty) Ltd, Close Corporation (CC), or another recognized legal entity. • The visa holder must be actively involved in the management and daily operations of the business. • The business must be lawfully operating within its permitted industry. c) Job Creation for South African Citizens • The business must employ at least 60% South African citizens or permanent residents. • Proof of employment (such as payslips, UIF contributions, and employment contracts) must be available for verification. d) Compliance with Tax and Financial Regulations • The business must remain in good standing with the South African Revenue Service (SARS) and submit: o Annual tax returns o VAT (if applicable) o PAYE (Pay-As-You-Earn) for employees o UIF (Unemployment Insurance Fund) contributions • An independent Chartered Accountant’s Report is required to verify compliance. e) Sector-Specific Approval (if applicable) • If the business operates in a regulated industry (e.g., healthcare, finance, security), sector-specific licenses or permits must be maintained. 2. Renewing the Business Visa A business visa is usually granted for 3 to 5 years and must be renewed before expiration. The renewal process requires: a) Proof of Continued Investment • Bank statements, audited financial statements, and investment confirmations must be submitted to show that the required capital remains within the business. b) Updated Business Plan • The business plan should reflect the company's financial growth, job creation, and future projections. c) Proof of Employment for South Africans • An updated staff list showing compliance with the 60% local employment rule. • Signed employment contracts and statutory ontribution records. d) Updated Chartered Accountant’s Letter • A registered accountant or auditor must confirm that the business remains financially viable and compliant with tax laws. e) Valid Business Licenses • If required for the specific industry, renewed sectoral licenses and permits should be provided. 3. Prohibited Activities (That Can Lead to Cancellation) A business visa holder must NOT: 1. Engage in Unauthorized Business Activities – The visa is tied to a specific business; changing industries without approval may result in cancellation. 2. Fail to Maintain Investment – If the required capital is withdrawn or misused, the visa may be revoked. 3. Fail to Employ South African Workers – The business must maintain the required ratio of local employment. 4. Fail to Submit Tax and Financial Reports – Tax evasion, fraud, or failure to submit SARS returns can result in legal action and visa revocation. 5. Violate Immigration Laws – Any breach of visa conditions, including working outside the authorized business, could lead to penalties or deportation. 4. Reporting and Compliance Checks • The Department of Home Affairs and Department of Labour may conduct periodic checks to verify compliance. • DHA may request financial reports, employee contracts, and proof of active business operations at any time. • Failure to comply can result in visa cancellation, penalties, or deportation. Conclusion To maintain a South African business visa, you must: ✅ Keep your business legally registered and operational. ✅ Maintain the R5 million investment (or approved amount if a waiver was granted). ✅ Employ at least 60% South African workers. ✅ Stay compliant with tax and labor laws. ✅ Renew your visa before it expires with proper documentation. ✅ Follow the business plan and industry regulations. Would you like help with specific aspects, such as renewal procedures or compliance audits? 😊 How can we help you , please email us to info@samigration.com whatsapp message me on: +27 82 373 8415, where are you now? check our website : www.samigration.com Please rate us by clinking on this links : Sa Migration Visas https://g.page/SAMigration?gm |
