- The business must be funded with foreign capital equal to an amount of R 5 million. For certain business sectors which have been identified to be of particular national interest, a lower amount may be approved by way of a preliminary waiver application. (maybe put a link to the list of business sectors qualifying for a waiver)
- The proposed business must draw 60% of its workforce from the South African labour force.
- A thorough business plan is required to demonstrate the business’ chance of success.
- The business must be incorporated and registered with the Companies and Intellectual Property Commission (CIPC) in line with the provisions of the Companies Act (Act 71 of 2008).
- Various registrations are required to ensure compliance with tax and workers obligations.
- Spouses and children can apply for matching dependant visas to accompany the main visa holder to South Africa.
- Once the business has been established successfully, the business visa holder can apply for permanent residence status on the basis of the business. (Link to PR business)