from ALFRED SHILONGO in Windhoek, Namibia
Namibia Bureau
WINDHOEK, (CAJ News) – THE world’s latest investment migration option is a breakthrough in Namibia’s quest for foreign investment to boost economic growth and diversify the economy.
Residence and citizenship planning firm, Henley & Partners, has launched the Namibia Residence by Investment Programme, providing opportunities for international investors seeking a foothold and growth in the African continent.
For a minimum real estate investment of US$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.
“We are delighted to announce this innovative new residence by investment offering in Africa,” said Group Head of Private Clients at Henley & Partners, Dominic Volek.
“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.”
Volek noted there are fewer than 600 real estate units available in the exclusive coastal estate that qualifies for residence.
“So investors need to move quickly if they want to take advantage of this limited opportunity to secure residence rights in one of the most nature- and wildlife-rich countries in the world,” Volek said.
The total private wealth currently held on the African continent is $2,1 trillion and is expected to rise by 38 percent over the next 10 years, according to the Africa Wealth Report.
Namibia is expected to be one of Africa’s fastest growing markets going forward, with high-net-worth individual growth of over 60 percent forecast for the next decade, until 2032.
According to New World Wealth’s December 2022 statistics, Namibia holds $26 billion in total investable wealth.
The average wealth of a resident of Namibia is $10 050, ranking as the third highest in Africa after Mauritius and South Africa.
The President’s Links Estate is currently the only investment route for the Namibia Residence by Investment Programme.
“The potential gains over the lifetime of this investment include the core value of the asset, rental yields, and global access as an ultimate hedge against both regional and global volatility,” said Group Head of Real Estate at Henley & Partners, Thomas Scott.
– CAJ News