THE Ministry of Home Affairs, Immigration, Safety and Security says it is in the process of drafting a Residence-by-Investment (RBI) or ‘golden visa’ programme.
The process will be undertaken in consultation with the Namibia Investment Promotion and Development Board (NIPDB).
Home affairs executive director Etienne Maritz said this in a statement on Tuesday in response to visas being offered to wealthy foreign nationals by Walvis Bay-based developers President Links Estate and Henley & Partners.
Under this programme, applicants would have to invest in the developers’ planned luxury golf estate at Walvis Bay to secure Namibian residency.
“We therefore advise foreign investors intending to invest in Namibia to obtain relevant information and advice on investments in Namibia by contacting the NIPDB,” he said.
Maritz said the ministry does not favour any particular company, nor does it endorse particular projects with regards to the ‘golden visa’.
For now he advises investors to acquire permits in accordance with the
criteria set out in the country’s laws.
NIPDB chairperson Nangula Uaandja on Tuesday confirmed plans to develop a ‘golden visa’.
She said the visa is a way to attract high net worth individuals to the country to strategically revitalise the economy.
“The NIPDB is in the process of crafting a concept for a Namibian RBI framework, called the ‘Desert Visa Programme’, which covers various categories of investment, and proposes certain conditions for each category.
“Among the various categories . . . is one on RBI through real-estate investment,” she said.
Uaandja advised President’s Link Estate developers to promote their project in line with existing laws and regulations in the absence of an approved ‘golden visa’ programme.
Credit – Taken from – https://www.namibian.com.na/120729/read/Golden-visa-yet-to-be-crafted
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