Retiring in South Africa
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An increasing amount of Europeans are choosing South Africa as the country to spend their golden years, and with good reason! The exchange rate makes buying property very attractive, and also allows a higher standard of life since their living expenses are covered by the Euros or Pounds they have saved up from their pension scheme. Private healthcare in South Africa is exceptionally good, especially for retired people, so this is another concern that they do not have to worry about.
In order to retire in South Africa, you would have to apply for a South African Retired Person's permit, which would allow those wishing to immigrate to South Africa to settle in the country on a temporary or permanent basis, provided that the financial criteria is satisfied as follows:
- A pension, retirement account or irrevocable annuity which has a value of at least R20,000 per month. (Applicable to each applicant)
- Candidates may also obtain a South African visa by demonstrating a "net worth" through a combination of assets which equates to a minimum of R20,000 per month.
If a permanent retirement visa is successfully obtained, an applicant's their spouse and/or dependent children under 21 will also qualify for permanent residency.
Submitted on Aug 21, 2013 - Category: Overseas Retirement, Network: South Africa
Submitted By
ArnoB
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