Can foreigners buy property in Namibia? And can they stay in the country for extended periods of time?
Is it possible to retire in Namibia? Is it possible to invest in and emigrate to Namibia? These are some of the questions that come up when global investors enquire about expanding their property profile into Namibia.
Although not always linked to immigration, it happens more frequently that retirees are looking for a quiet and peaceful lifestyle that the wide-open spaces Namibia has to offer, even if just for a few months every year.
Buying property in Namibia:
Foreigners are welcome and free to invest in residential property in Namibia and will get 100% full ownership when they do.
Any funds transferred from abroad will go through a short validation process to convince authorities that the source of funds is legitimate, and that no money laundering is taking place. Your estate agent and conveyancing attorneys will assist with the FIA (Financial Intelligence Act) documentation as this has become a routine procedure in the conveyancing process.
Generally, buying agricultural land, is not an option available to foreigners. This right is reserved for Namibians only. Should you, however, join forces with a Namibian citizen, it would be possible to purchase a 49% interest in a farm. Controlling interest, however, should always remain in local hands.
Fortunately, foreigners are permitted to buy smallholdings in lifestyle estates which are not ear-marked for farming activities. Several such estates exist throughout Namibia, often in proximity of towns, and here foreigners can legally obtain several hectares, typically 5-15 hectares. Often these estates have no boundary fences and game roams freely between them for all to enjoy.
Permanent residence in Namibia.
Without going into too much detail, the principle is that individuals of 60 and older may apply for permanent residence on the following conditions.
- Applicants should be financially self-sufficient and be able to support themselves by means of a proven income.
- Applicants should have cover for medical contingencies by means of medical aid, hospital plans, etc.
The government is currently also drafting new guidelines that will apply to investors, but as yet, no details are available. This may become known after September 2021.
Permanent residence should preferably be managed by experienced immigration agents as they remain informed of any changes in the law.
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