# Proving net worth for retirement visa



## gwnorth (Feb 13, 2014)

I have the required 12 million rand in net worth to apply for the financially independent visa if I sold all of my assets.My question is- would I have to only prove I have the net worth to apply(and keep my money in the Bahamas etc) or would I have to eventually bring all that money into the country,something I do not want to do


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## Sedge63 (Jun 8, 2014)

Hi gwnorth. All of my assets are still in the UK, there is no expectation that I am aware of that requires you to transfer them to South Africa. I have been here for 12 months now.


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## gwnorth (Feb 13, 2014)

Thanks for the info.How did they ask you to prove your net worth?


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## Sedge63 (Jun 8, 2014)

We had to provide three months of up to date bank statements and statements of any other income such as pensions etc.


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## LegalMan (Dec 26, 2012)

gwnorth said:


> Thanks for the info.How did they ask you to prove your net worth?


The financial requirements must be certified by a charted accountant. In addition to proving a net worth of R12 million, the applicant is also required to pay a fee of R120,000 to the South African government.


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## 2fargone (Jun 14, 2011)

LegalMan said:


> The financial requirements must be certified by a charted accountant. In addition to proving a net worth of R12 million, the applicant is also required to pay a fee of R120,000 to the South African government.


When did the fee of R120,000 happen? Or has that always been the case.


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## LegalMan (Dec 26, 2012)

It was previously R75,000 when the financial independence net worth was R7,5M. So it has always been a fee of 1%.


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