# Retirement visa - financial requirements



## MarkDR (May 7, 2015)

Hi, I wonder if anyone could shed some light on the financial requirements of the retirement visa for me. Family friends are moving to SA from overseas and would like to come in on the retirement visa (and accompanying spouse). They get a collective retirement of R38000 each month which fulfills the R37000 pm requirement. This is paid into a joint bank account. Could they prove that this fulfills the financial requirement, if they show simply that he has the right to that money?


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## tejedor (Dec 10, 2014)

Mark, as I understand it the R37k is per person per month. For a couple to receive the permanent residency visa as retired persons, you would need R74k per month total.


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## LegalMan (Dec 26, 2012)

MarkDR said:


> Hi, I wonder if anyone could shed some light on the financial requirements of the retirement visa for me. Family friends are moving to SA from overseas and would like to come in on the retirement visa (and accompanying spouse). They get a collective retirement of R38000 each month which fulfills the R37000 pm requirement. This is paid into a joint bank account. Could they prove that this fulfills the financial requirement, if they show simply that he has the right to that money?


Hi MarkDR, 

Believe it or not, you are legally able too apply for main applicant Retired visa and an accompanying spouse. Lowering the amount to R8,500 for the accompanying spouse (section 11(1)(b)(iv) and R37,000 for the main applicant. 
Saying this, embassies and DHA are not really aware of this and the application may be rejected, even though it is a legitimate option.


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## tejedor (Dec 10, 2014)

Legalman,

Thanks for the correction/clarification. I did not know that a spouse only had to prove R8.5k.

Colin


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## LegalMan (Dec 26, 2012)

Hi Colin, 

You would need to show a continuous monthly amount of R8.5K to be available. 
As stipulated for a relative in the gazette


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## tejedor (Dec 10, 2014)

Legalman,

Are they still counting income from rental properties as 'continuous monthly income' for permanent retired persons visa?


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