A visa business plan is required for a company or individual to conduct business in the host country. A South African business visa should be applied for by those seeking to own and work in their own business.The visa business plan needs to be compelling in spelling out the steps for the business to succeed and the funding required as well as covering all aspects specific to the South African immigration business visa regulations.
Spouses or partners can work in the business, but not for financial reward. The business visa is restricted to the specified business and holders may not open up further businesses in which they will work without the required additional visa.
Those who are investing in a business, but not moving to South Africa, or working in the business, do not need to meet any South African business visa requirements, and are free to invest into any South African business.
Capital Investment and Documents Required
The requirement for a South African business visa necessitates a minimum capital investment of R5 million. This investment needs to be made from funds introduced into South Africa from abroad.
The business visa requirements do however cater for waivers on this amount, various factors will be considered with waiver applications but the most important one is what category of business the applicant wishes to set up in.
Along with a completed BI-1738 form, you will also have to submit a certificate issued by a chartered accountant that is registered with the South African Institute of Chartered Accounts stipulating that you have:
- An agreement to register with the South African Revenue Service, Unemployment Insurance Fund, Compensation Fund, Companies and Intellectual Properties Commission, and a relevant professional body or council or where applicable, as recognised by the SAQA.
- Police clearance certificates from each country in which you stayed from the age of 18 years.
- A letter of recommendation from the Department of Trade and Industry that assessed the feasibility of your business and why the contribution would be beneficial and of interest to the Republic
- A yellow fever vaccination certificate if you’ve travelled to or are planning to travel in a risk area, as well as your radiology reports.
Executive Summary of a Visa Business Plan
Highlight the success of the company in your home country. Your immediate strategic objective is to procure a business visa in the host country. When defining your products and services, focus on the current supply and demand in the host country. The unique selling proposition must address a problem in the current market.
Staffing within the host country should be on par with the home country. Products and pricing must comply with the legislation of the host country. Premises must be carefully identified and described, in line with the relevant legislation. The demographics of the population should be carefully considered.
South African business visa regulations are constructed to attract inward investment into South Africa in appropriate business areas and also for the creation of employment. The employment obligation under the South African business requirements is that the business visa holder will have 60% South African citizens or permanent residency holders within the staff they employ.
Company Summary of a Visa Business Plan
Describe the legal structure of the company in the home country. List the relevant licences that you will have to acquire for the business to set up in the host country. A section on Investment into the Company should include a fixed asset register (leasehold improvements, furniture and fittings, computer equipment, equipment, and property, plant and machinery). Management equity and an exit strategy should be outlined.
Operations of a Visa Business Plan
Include an operational overview, as well as a SWOT analysis.
Market Analysis of a Visa Business Plan
A macro-economic outlook, with economic data and trends from the host country, should be featured in this section. The market analysis for the next few years in the host country will show that you have carefully considered the economic environment in which you intend to conduct business. Next, include an analysis particular to your business (for example, if you want to open an halal restaurant in the UK, write about the fine dining industry).
A customer profile should be drafted for the target market in the host country. Include a competitors’ analysis of established businesses in the host country, adding your plan for attracting consumers away from them. A PESTLE analysis (politics, economy, society, technology, law, and environment) of the host country must be considered, showing how you will take advantage of the positive and negative factors.
Marketing Plan of a Visa Business Plan
This includes marketing and advertising objectives and strategies. In order to write a pricing guideline, look at competitors’ rates, the target market, as well as simplicity.
Organisational Plan and Personnel Summary
Show how the corporate organisation will be managed in the host country. Include a plan for how orders will be fulfilled and customers cared for. Highlight the business’s processes and the costs thereof. Explain how you will establish, develop and manage the business’s infrastructure.
Risk and Risk Mitigation
This includes economic, psychological, performance-related, and physical risk.
Milestones and Rollout Plan
Sets out the goals to be accomplished within the next five years, as well as methods for achieving these goals.
Financial Plan of a Visa Business Plan
Include necessary information such as plans and forecasts.
Contact us for more information on drafting a business visa plan for your company to trade internationally.