Namibia: ‘Serious Investors’ to Receive 5-Year Visa
President Netumbo Nandi-Ndaitwah has announced a five-year visa option for investors who are serious about doing business in Namibia.
Speaking at the recently held Public-Private Partnership Forum launch in Windhoek, she said the visa application process requires urgent review to make it easier to visit the country.
This would boost economic activity and make the country a more desired investment destination.
“Serious investors should be granted five-year permits, and the visa regime must be reviewed and application forms simplified to make it easier for investors and visitors to access the special visa programme,” Nandi-Ndaitwah said at the launch.
The president further asked that more arrival counters should be set up at Hosea Kutako International Airport to reduce delays upon arrival in the country.
However, no funds were committed to this initiative, with no mention of it in the recently tabled midterm budget review either.
Additionally, the president asked for the migration bill to be enacted before the end of the financial year.
Nandi-Ndaitwah said the government is preparing a series of tax reforms to strengthen competitiveness and fairness within the economy.
One such effort is the reduction of tax within the mining sector.
“These measures are in line with global efforts to increase tax-to-gross domestic product ratios and promote equality through progressive taxation,” she said.
Nandi-Ndaitwah said to address the issues faced by investors when starting a business in Namibia, the government has approved a new building for the Business and Intellectual Property Authority (Bipa), which will open in November as Namibia’s one-stop business hub, bringing all key business services together under one roof.
To ensure the expected results, the president announced the establishment of three task forces on economic recovery, health, and housing, drawn from the forum’s working groups.
These teams are expected to report back to her by January.
Koryx Copper chief executive Heye Daun says these initiatives show the government “means business” and he hopes it will appoint experts to come up with a proper fiscal and regulatory framework.
“It is long overdue and will give Namibia a much-needed boost when it is finally done,” he says.
Daun says clarity is, however, still needed on the ownership requirements applicable to new mines in the country.
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By Namibian.
