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Retirement after a hard day's work

Posted by Sue-Allan Mehl

If you are retirement age and wish to retire in beautiful South Africa, you may look at the option of a retirement visa.

For this particular visa application, you need to submit proof that you have the right to a pension or irrevocable annuity or retirement in the amount of at least R37 000 per month. You may also submit proof that you have the right to a minimum prescribed net worth of this amount per month.

Some of the quintessential documents to be submitted with a retirement visa application are –

  • A confirmation from the pension authorities that you are entitled to a monthly pension of at least R37 000 per month; or

  • A lease or tenancy agreement, proving that you receive a monthly rental of at least R37 000 per month

  • Proof of ownership of the property being leased

  • Bank statements, in your name, for the last 3 months proving that you are receiving the monthly R37 000 via means above

Another inconsistent requirement amongst Embassies is that a Chartered Accountant (CA) must confirm this income per month as well.

Very often, proof of lump sum in cash form may also be submitted (minimum net worth) to Embassies accepting this requirement. This means, proof that you have cash available for the full duration of the retirement visa (4 years) may be submitted by means of bank statements.
You may also look at the option of permanent residency (PR) based on retirement, so you can enjoy this magnificent country all year round.
Speak to us regarding your retirement visa application as we have assisted many clients with this category for the past 14 years. We can be reached on www.movingsouthimmigration.com. Alternatively, you can reach us on +2773 5357 534 or [email protected]

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