LONDON, March. 1 — Namibia has launched a Residence by Investment Program in a bid to attract foreign investment to boost its economic growth and diversify its economy. Henley & Partners, the global leader in residence and citizenship planning, is behind the initiative, which is Africa’s second investment migration option. The program provides opportunities for international investors seeking a foothold and growth on the African continent, including tax incentives, financing, and a one-stop bureau service for international companies.
The Namibia Residence by Investment Program offers a renewable five-year work permit to successful investors who invest a minimum of USD 316,000 in the new luxury golf and eco-friendly President’s Links Estate in Walvis Bay. This will give them the right to live, do business, and study in Namibia. The program is expected to appeal to international entrepreneurs, high-net-worth individuals, and retirees seeking a more business-friendly and attractive tax system.
Namibia’s private wealth market is rapidly growing and is expected to rise by 38% over the next ten years. The average wealth of a resident of Namibia is USD 10,050, ranking as the third highest in Africa after Mauritius and South Africa. Namibia operates a source-based tax system, which means that foreign residents are generally only taxed on the income they generate in the country. Tax rates are relatively competitive compared to many other emerging markets, and there are no capital gains, estate, gift, inheritance, or net wealth/worth taxes.
The President’s Links Estate is currently the only investment route for the Namibia Residence by Investment Program. International real estate has always been a reliable asset class for global investors due to its long-term staying power. Real estate-linked investment migration programs such as the offering in Namibia have the additional advantages of enhancing global mobility and expanding personal access rights as a resident or citizen of additional jurisdictions, creating optionality in terms of where investors and their families can live, work, study, retire, and invest.
There has been significant and ongoing growth in the demand for residence and citizenship by investment options over the past few years. Investment migration offers benefits ranging from domicile diversification to global mobility enhancement, accessing world-class education and healthcare, and having a plan B in times of turmoil. Wealthy investors can futureproof themselves and their families for whatever might lie ahead through investment migration options such as the new Namibia Residence by Investment Program.
