Namibia Launches 5-Year Residency Permit for Foreign Investors

The Namibian Ministry of Home Affairs, Immigration, Safety and Security has introduced a new five-year investor permit to attract foreign businesses, effective from 1 September.

This development is significant for practitioners as it aims to create a simpler and more efficient process for investors and business owners seeking to establish or conduct business in Namibia. The introduction of the new permit is expected to contribute to increased foreign direct investment, economic growth, industrialisation, and employment creation. However, the new system is not open to all applicants; it is intended only for investors whose investor status will be/has been confirmed by the Namibia Investment Promotion and Development Board (NIPDB).

The relevant statutes and regulations involved in this development include the Immigration Act of 1990 and the Employment Equity Act of 2015. The new permit is designed to function simultaneously as a residency document and work authorisation, providing greater certainty for investors and supporting long-term business planning and investment in Namibia.

The key parties involved in this development are the Ministry of Home Affairs, Immigration, Safety and Security, the Namibia Investment Promotion and Development Board (NIPDB), and foreign businesses seeking to invest in Namibia. Practitioners should monitor the application process, which includes rigorous economic vetting conducted by the NIPDB. Attorneys advising clients on investment opportunities in Namibia should be aware of the new permit's requirements and benefits.