INVESTMENT PERMIT INFORMATION
The Presidents Links Estate (Pty) Ltd commits that the investor will receive a five-year renewable Employment Permit when investing in The Presidents Links Estate (Pty) Ltd. This commitment is subject to the investor meeting all the Immigration Selection Board (ISB) and The Ministry of Home Affairs, Immigration, Safety, and Security criteria.
Investing in The Presidents Links Estate (Pty) Ltd will allow investors to qualify for a Permanent Residence Permit after seven years provided that the investment was retained for the duration of the seven year period, and that the investor abided by the terms set out on their Investment permit. If an investor did not meet all requirements, a further five-year renewable Investment Permit would be issued.
The Presidents Links Estate (Pty) Ltd also confirms that any applicant can qualify for a Permanent residence if he or she chooses to move their business to Namibia permanently. The application will be at the discretion of the Immigration Selection Board (ISB) and the Ministry of Home affairs.
Property ownership & the Visa
HOW IT WORKS
In 1990, the Namibia legislature passed the Foreign Investments Act 27 of 1990 (the “Act”), to regulate and provide for the promotion and protection of qualifying investments into Namibia by foreign nationals.
To qualify, a foreign national must invest foreign assets, of more than N$3’950’000 in Namibia, into a business activity. Where investment takes the form of acquiring shares in a Namibian company the foreigner must acquire more than 10% of the shares.
A foreign investor, who has made an investment into a Namibian company, may, together with such company, apply for an employment permit which, upon granting, will enable the investor to work and reside in Namibia (along with his/her dependants) and subject to such further conditions as the Immigration Authority may impose. The duration of such a permit is discretionary, the current norm being 5 (years) and renewable. Such a permit is linked to the company, in other words the investor will not be able to be employed with any other employer, without the prior authorisation of the Immigration Authority.
The Presidents Link Estate (Pty) Ltd (the “Developer”) will, within the context of the broader development project, avail qualifying investment opportunities for foreign investors seeking to invest, work and reside in Namibia. The form of the investment opportunity will be the acquisition of the shares in a Namibian company, which holds the rights to own and undertake a residential property development project (namely a residential dwelling) [the “Sub-Project”] within the Presidents Link’s Estate. Upon the investor having committed to the investment, the company, together with the investor, and with the assistance of the Developer will submit an application for the permit. The actual investment by the investor occurs in accordance with agreed upon milestones set forth in the transaction documentation.
The end result of an investment and the implementation of the acquisition of the company and the Sub-Project is that the investor shall be the owner of a Namibian company, which in turn owns a residential dwelling (of the investors selection) within the Presidents Links Estate and the investor being the holder of an employment permit permitting the investor to work and reside in Namibia together with his/her dependants.
INVESTMENT VISA APPLICATION
PROCEDURE AND TIMELINE
The Presidents Links Estate (Pty) Ltd will apply for the five-year renewable Investment Permit on behalf of the investor to the Immigration Selection Board (ISB) and the Ministry of Home Affairs, Immigration, Safety, and Security.
Once all the provided documents have been received and have reviewed to be in order, The Presidents Links Estate (Pty) Ltd will apply to the Immigration Selection Board (ISB) and the Ministry of Home Affairs, Immigration, Safety, and Security on the investors behalf. The application is estimated to take approximately eight weeks for a five-year renewable Investment/Employment Permit to be issued.
Once The Presidents Links Estate (Pty) Ltd has received the five-year renewable Investment/Employment Permit confirmation, it will notify the investor. Then the investor is free to enter Namibia to reside and work.
The work permit will be issued in the name of the company that the property invested into is registered in. This will allow the Investor to either open a business owned by the said company or to operate in the company’s itself. Further detail and explanations of this process can be obtained from the Presidents Links Estate (Pty) Ltd representatives and attorneys. (Please refer to the A Zoom or Teams meeting can be scheduled at the investor’s convenience.
Please note that The Presidents Links Estate (Pty) Ltd is not in control of the procedure of Investment Permits issuing and cannot ensure the timeline, but will complete the process as promptly as possible.