African economies looking to attract fresh investments are turning to innovative programs that offer residence and dual citizenship opportunities to investors with deep pockets. Namibia and Henley & Partners, the global leader in residence and citizenship planning, have unveiled a Residence by Investment Program to attract foreign investment and boost the country’s economic growth. Foreigners seeking Namibian residency must purchase real estate valued at least $316,000 at President’s Links Estate. Foreign investors in the Mauritius Residence by Investment Program must purchase luxury real estate valued at a minimum of $375,000 from six eligible real estate projects. Mauritius’ neighbor in the Indian Ocean, Seychelles, offers permanent residence (a “golden visa”) and citizenship to high-net-worth investors, depending on the investment amount. Interested investors need to fork out at least $1 million to be eligible for Seychelles’ citizenship by investment program. South Africa’s residence by investment program, the Financial Independent Permit (permanent residence), grants wealthy individuals the ability to work, study, or manage their own business in the country and requires a minimum net worth of $820,000 and typically takes eight months to process. In Egypt, investors can obtain a passport by investing a minimum of $250,000 with the option to invest $500,000 or more.
Africa’s Residence by Investment Market is Still New, a Few States are Joining the Fray
- AFRICA TOP 10
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