South Africa permanent residence for financial independent person

[daniels27]

No.
Residence permits are like bank accounts, you must always have multiple backups and a dynamic strategy.

The only thing is that in South Africa you don't really need it unless you stop traveling. Three to five years after having it, they are going to ask for taxes. Also your real estate gains are no longer tax-free. It really depends on the case, but many in South Africa are living there on border runs without permit to avoid tax issues.

 

[koohl]

how do you need to show net worth? Is crypto accepted too?

very good question, is that possible or only FIAT money can be approved?

 

[daniels27]

very good question, is that possible or only FIAT money can be approved?

I think it makes more sense to have some FIAT money confirmation. It makes things easier and you are more likely to have a favourable outcome in due time.

 

[koohl]

I’d assume they’ll wake up to it soon in South Africa as well. They already thrive on gold and diamonds, so it’s likely they’ll embrace Bitcoin too once they realize that diamonds are worthless and gold isn’t as significant a source of income as Bitcoin in the long run.