Investment Promotion and Development Board Advocates for Permanent Residency for Wealthy Foreigners to Boost Economic Growth

The Namibia Investment Promotion and Development Board has proposed that the government offer permanent residency to wealthy foreigners interested in purchasing Namibian retirement farms. NIPDB CEO, Nangula Uaandja made this request in a letter to the Executive Director of Home Affairs, Immigration, Safety, and Security, Etienne Maritz, on July 16. The initiative, named the ‘Desert Visa Programme,’ aims to attract foreign investment and stimulate economic development by encouraging high-net-worth individuals to invest in long-term lease farms, local businesses, and other ventures. Uaandja has also requested a meeting with the Immigration Selection Board to discuss approving permanent residency for these investors.