| (1) | Subject to subsection (1A), business visa may be issued by the Director-General to a foreigner intending to establish or invest in, or who has established or invested in, a business in the Republic in which he or she may be employed, and an appropriate visa for the duration of the business visa to the members of such foreigner’s immediate family: Provided that— |
| (a) | such foreigner invests the prescribed financial or capital contribution in such business; |
| (b) | the contribution referred to in paragraph (a) forms part of the intended book value of such business;and |
| (c) | such foreigner has undertaken to- |
| (i) | comply with any relevant registration requirement set out in any law administered by the South African Revenue Service; and |
| (ii) | employ the prescribed percentage or number of citizens or permanent residents within a period of 12 months from the date of issue of the visa; and |
[Section 15(1) amended by section 11(a) and (b) of Immigration Amendment Act, 2011 (Act No. 13 of 2011)]
| (1A) | No business visa may be issued or renewed in respect of any business undertaking which is listed as undesirable by the Minister from time to time in the Gazette, after consultation with the Minister responsible fir trade and industry. |
[Section 15(1A) inserted by section 11(c) of Immigration Amendment Act, 2011 (Act No. 13 of 2011)]
| (2) | The holder of a business visa may not conduct work other than work related to the business in respect of which the visa has been issued. |
| (3) | The Director-General may reduce or waive the financial or capital contribution referred to in subsection (1)(a) for businesses which are prescribed to be in the national interest, or when so requested by the Department of Trade and Industry. |
| (4) | The holder of a business visa shall submit proof to the satisfaction of the Director-General that he or she has fulfilled the requirements contemplated in subsection (1)(a) within 24 months of the issuance of the visa, and within every two years thereafter. |
| (5) | A business visa may be issued to a foreigner for more than one entry if multiple entries into the Republic by that foreigner over a period of time are necessary for that foreigner to conduct the business in question effectively. |
