The financial requirements in obtaining a Temporary residence or Permanent residence Retired persons visa is a key requirement in order to receive this visa to reside in South Africa.
In order to apply for Temporary residence retired persons visa, income of a prescribed amount, per person is required to be proven. Therefore, cash assets (i.e. capital), pension income (already receiving), investment income and actual rental income from properties being leased out are acceptable documentation for the Department to issue this visa.
In order to apply for Permanent residency based on a retired visa, income of the same above prescribed amount, per family (proven by one person in the family, couple, etc) is required to be proven. Cash assets are not acceptable in this instance, as the funds are required to be “life-long guaranteed income” – such as pension income, actual rental income or investment income/interest received per month.