Namibia Rolls Out Five-Year Investor Permits

The Ministry of Home Affairs, Immigration, Safety and Security has announced the introduction of a specialised residency category designed to attract foreign businesses.

Starting 1 September, Namibia will officially implement a new employment permit to conduct business.

According to a public notice issued by the ministry, this amendment is specifically "aimed at creating a simpler and more efficient process for investors and business owners seeking to establish or conduct business in Namibia".

One of the biggest changes is the extension of the permit's duration.

While standard employment permits are typically issued for two years, this new category "may be issued for a period of up to five years".

The ministry says this "longer validity period is intended to provide greater certainty for investors and support long-term business planning and investment in Namibia".

Beyond serving as a residency document, the ministry confirmed that the permit will function simultaneously as work authorisation.

Officials anticipate that these combined measures will 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)".

Those who do not meet these specific criteria must continue to use the existing general employment permit application forms.

The application process has been designed to include rigorous economic vetting.

All applications must be submitted manually through the NIPDB, which will "conduct an economic evaluation and impact assessment of the proposed investment" before the application is moved to the chief of immigration for consideration by the immigration selection board.

Upon approval, successful applicants will be required to pay a fee of N$2 600, which remains consistent with the fee for a general employment permit.

This reform "reaffirms the government's commitment to improving the investment environment, reducing administrative barriers and making Namibia an increasingly attractive destination for investment and business" the ministry says.

Read the original article on Namibian.