This visa, commonly known as the retirement visa, is highly favored by foreigners seeking to retire in South Africa and by high-net-worth individuals. It allows foreigners to stay in South Africa for more than the standard 3-month limit, providing the flexibility to retire while still maintaining residences in other parts of the world.

A South African retirement visa may be granted to a foreign national who can demonstrate financial means to support themselves indefinitely in South Africa, through a pension, irrevocable annuity, or similar financial arrangement. The visa is initially valid for 4 years and is renewable.

To qualify for a South African retirement visa, applicants must show that they have access to R37,000 per month as income for the remainder of their life or possess assets that can generate R37,000 per month.