Can anyone give us clarity or more insight on the 10-year Family Occupation Permit announced by the Minister of Finance Renganaden Padayachy during the presentation of the 2021-2022 Budget on Friday, June 11 ?
One source says:
"These are some of the flagship measures aimed at encouraging the opening of the country to foreigners. A 10-year Family Occupation Permit will be available for those who contribute at least Rs 250,000 to the Covid-19 Projects Development Fund."
https://www.expat.com/en/expat-mag/5595 … idity.html
the other says: "• A 10-Year Family Occupation Permit will come into effect, for those contributing USD 250,000 to the COVID-19 Projects Development Fund"
https://www.privateproperty.co.za/advic … -2022/8198
Which is it? Rs 250 000 is about the amount that same family will spend before 30 Sept if they have to pay for 2 weeks full board in a quarantine hotel on the island.
the other amount is 42.6 times as much:
USD 250 000 is two thirds of the USD 375 000 minimum spend requirement on a property in one of the expat schemes - another popular method of gaining the same Occupation Permit (which has also now been improved to 10 year residence for a whole family - 3 generations including parents and children).