| (1) | An application for a business visa by a foreigner who intends to establish a business or invest in a business that is not yet established in the Republic, shall be accompanied by— |
| (a) | a certificate or a factual finding report issued by a chartered accountant registered with the South African Institute of Chartered Accountants, a professional accountant registered with the South African Institute of Professional Accountants or a business accountant registered with the South African Institute for Business Accountants to the effect that― |
| (i) | at least an amount in cash to be invested in the Republic as determined from time to time by the Minister, after consultation with the Minister of Trade and Industry, by notice in the Gazette, is available; or |
| (ii) | at least an amount in cash and a capital contribution as determined from time to time by the Minister, after consultation with the Minister of Trade and Industry, by notice in the Gazette, is available; |
| (b) | an undertaking by the applicant that at least 60% of the total staff complement to be employed in the operations of the business shall be South African citizens or permanent residents employed permanently in various positions: Provided that proof of compliance with this undertaking shall be submitted within 12 months of the issuance of the visa; |
| (c) | an undertaking to register with the— |
| (i) | South African Revenue Service; |
| (ii) | Unemployment Insurance Fund; |
| (iii) | Compensation Fund for Occupational Injuries and Diseases; |
| (iv) | Companies and Intellectual Properties Commission (CIPC), where legally required; and |
| (v) | relevant professional body, board or council recognised by SAQA in terms of section 13(1)(i) of the National Qualifications Framework Act, where applicable, |
Provided that upon registration, all certificates shall be submitted to the Director-General;
| (d) | a police clearance certificate; and |
| (e) | a letter of recommendation from the Department of Trade and Industry regarding— |
| (i) | the feasibility of the business; and |
| (ii) | the contribution to the national interest of the Republic. |
| (2) | An application for a business visa by a foreigner who has established a business or invested in an existing business in the Republic, shall be accompanied by— |
| (a) | a certificate or a factual finding report issued by a chartered accountant registered with the South African Institute of Chartered Accountants, a professional accountant registered with the South African Institute of Professional Accountants or a business accountant registered with the South African Institute for Business Accountants to the effect that― |
| (i) | at least an amount in cash as determined from time to time by the Minister, after consultation with the Minister of Trade and Industry, by notice in the Gazette, is available or already invested in the Republic; or |
| (ii) | at least an amount in cash and a capital contribution as determined from time to time by the Minister, after consultation with the Minister of Trade and Industry, by notice in the Gazette, is available or already invested in the Republic; |
| (b) | proof that at least 60% of the total staff complement employed in the operations of the business are South African citizens or permanent residents employed permanently in various positions; |
| (c) | proof of registration with the— |
| (i) | South African Revenue Service; |
| (ii) | Unemployment Insurance Fund; |
| (iii) | Compensation Fund for Occupational Injuries and Diseases; |
| (iv) | Companies and Intellectual Properties Commission (CIPC), where legally required; and |
| (v) | relevant professional body, board or council recognised by SAQA in terms of section 13(1)(i) of the National Qualifications Framework Act, where applicable; |
| (d) | a police clearance certificate; and |
| (e) | a letter of recommendation from the Department of Trade and Industry regarding— |
| (i) | the feasibility of the business; and |
| (ii) | the contribution to the national interest of the Republic. |
| (3) | A foreigner who invests in a business to be established or has invested in an existing business shall, in addition to complying with subregulation (2), submit― |
| (a) | financial statements in respect of the preceding financial year; and |
| (b) | proof of the investment. |
| (4) | The applicant must, within 12 months of the visa being issued, submit to the Director-General a letter from the Department of Labour confirming that a report regarding the undertaking referred to in section 15(1)(c)(ii) of the Act that 60% of the staff complement employed in the operations of the business are South African citizens or permanent residents who are employed permanently in various positions. |
| (5) | A business visa may be issued for a period not exceeding three years at a time. |
[Regulation 14 substituted by section 6 of the First Amendment of the Immigration Regulations, 2014, Notice No. R. 1328, GG42071, dated 29 November 2018]
