A retired persons permit may be issued for a period exceeding three months to a foreigner who intends to retire in the Republic, provided that the foreigner provide proof that such foreigner has the right to a pension or an annuity or retirement account which will give such foreigner a prescribed minimum payment for the rest of his or her life from the country of his or her origin; or a minimum prescribed net worth.
(2) The Department may authorise the holder of a retired person permit to conduct work under terms and conditions as the Department may deem fit to determine under the circumstances.
(3) A retired person permit may allow its holder to sojourn in the Republic on a seasonal or continuous basis; and not exceed a four-year period, at the expiry of which it may be renewed one or more times.
