Namibia Residence by Investment Program — The World’s Latest Investment Migration Option
The world’s latest investment migration option — and Africa’s second — the Namibia Residence by Investment Program has been launched by Henley & Partners, the global leaders in residence and citizenship planning.
The Namibian government is actively seeking foreign investment to boost the country’s economic growth and diversify the economy. The program provides numerous 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. For a minimum real estate investment of USD 316,000 in the new luxury golf and eco-friendly President’s Links Estate in Walvis Bay, successful investors will receive a five-year, renewable work permit which gives them the right to live, do business, and study in Namibia.
Group Head of Private Clients at Henley & Partners, Dominic Volek, says, “Namibia’s stunning landscape, attractive tax system, and business-friendly environment make it an ideal option for international entrepreneurs, high-net-worth individuals, or retirees. Currently, the President’s Links Estate is the only investment route for the Namibia Residence by Investment Program, and there are fewer than 600 real estate units available in this exclusive coastal estate. 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 Namibia’s 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 one can live, work, study, retire, and invest. The potential gains over the lifetime of the investment include the core value of the asset, rental yields, and global access as an ultimate hedge against both regional and global volatility.”
One of Africa’s fastest growing private wealth markets
The total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years, according to the Africa Wealth Report, published by Henley & Partners in partnership with New World Wealth. Namibia is expected to be one of Africa’s fastest growing markets going forward, with high-net-worth individual (those with wealth of USD 1 million or more) growth of over 60% forecast for the next decade (until 2032). According to New World Wealth’s December 2022 statistics, Namibia holds USD 26 billion in total investable wealth. The average wealth of a resident of Namibia (wealth per capita) is USD 10,050, ranking as the third highest in Africa after Mauritius and South Africa. The nation is home to around 2,100 high-net-worth individuals and three centi-millionaires (with wealth of USD 100 million or more).
To attract inward investment, the government has made major improvements to its tax system in recent years. Namibia operates a source-based tax system, which means that foreign residents are generally only taxed on the income they generate in the country. What is more, tax rates are relatively competitive compared with many other emerging markets and particularly with neighboring countries such as South Africa. The top rate of income tax in Namibia is a modest 37%, but perhaps most notably there are no capital gains, estate, gift, inheritance, or net wealth/worth taxes.
Find out more about the Namibia Residence by Investment Program here.