Kenya revives ‘golden visa’ plan to lure capital

The initiative would mark one of the biggest changes to Kenya's investment promotion strategy, beyond tax incentives to offer long-term residency rights sought by globally mobile entrepreneurs and multinational executives.

Invest Kenya chief executive John Mwendwa said the agency is developing proposals and expects to lobby the government to establish a legal framework for the programme.

"We are exploring residency by investment," Mr Mwendwa said in an interview. "Directionally, that's the way investors would like it. We'll see whether we can adopt that direction."

He said eligibility would be tied to measurable economic impact, although the government is yet to determine investment thresholds or qualifying sectors under the proposed framework, which is still at conception stage.

"We have to have parameters that make commercial sense," Mr Mwendwa said.

"Those decisions have to be made more holistically, possibly beyond our agency. So it's a bit unfair for me to say ‘this is what I'm proposing’, then tomorrow it becomes something else."

He added that any residency programme would require legislation because immigration privileges extend beyond the mandate of Invest Kenya and involve several government institutions.

The proposal revives an initiative announced in 2019 by the investment promotion agency, whose management at the time argued that high-impact investors deserved non-monetary incentives alongside conventional tax breaks.

“If somebody has created impact and you can see the jobs created, why don't we extend an incentive to them and say we invite them to be our citizen in three, two years?" the agency’s former boss Moses Ikiara said in November 2019.

The initiative, however, never progressed beyond preliminary discussions with the Interior ministry despite officials saying safeguards would be introduced to prevent abuse of the programme.

Its revival comes as governments worldwide increasingly compete for investment by offering residency and citizenship privileges rather than relying solely on generous tax incentives.

Countries are recognising that wealthy entrepreneurs value certainty over where they can live, work and relocate their families as much as they value corporate tax concessions.

Kenya already offers investors incentives through Special Economic Zones, Export Processing Zones and the Nairobi International Financial Centre, including tax exemptions and simplified regulatory procedures.

Mr Mwendwa said residency would complement rather than replace those incentives, making Kenya more attractive to investors seeking permanent commercial and personal ties with the country.

Unlike temporary work permits, permanent residency allows foreigners to establish firms, accept jobs and reside indefinitely without repeatedly renewing immigration documents.

Current immigration laws require foreign investors to hold a Class G Investor Permit for at least seven years before applying for citizenship through registration.

Applicants are required to have lived continuously in Kenya for at least three years immediately preceding the citizenship application, making the current pathway relatively lengthy.

Foreign investors qualify for a Class G permit by investing at least $100,000 (about Sh13 million) in an active Kenyan enterprise, alongside paying a Sh20,000 processing fee and an annual issuance charge of Sh250,000.

Permanent residency would eliminate recurring permit renewals and annual fees, reducing administrative costs for investors committed to building long-term businesses in Kenya.

Kenya would join other African countries already using residency incentives to attract international capital and high-net-worth individuals.

South Africa grants permanent residency to qualifying investors committing at least 12 million rand (about Sh94.92 million), while Mauritius offers immediate permanent residency to investors injecting at least $375,000 (about Sh48.53 million) into qualifying real estate developments.

Invest Kenya has not disclosed proposed investment thresholds, but eligibility will likely depend on investment size, employment creation and economic contribution.

That approach would distinguish Kenya's programme from purely wealth-based schemes by rewarding investors whose projects deliver measurable development outcomes for the economy. Kenya attracted an estimated $3.2 billion (Sh413.6 billion) in foreign direct investment (FDI) in 2025, marking its strongest performance ever as investors poured money into the country's digital economy and renewable energy amid business-friendly reforms.

Numbers released by the United Nations Conference on Trade and Development showed FDI inflows rose 37.7 percent, or $876 million (Sh113.22 billion), from revised $2.32 billion (Sh299.9 billion) in 2024.

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