Looking for an affordable second passport? Kenya is currently mulling a citizenship by investment programme for wealthy foreign investors. Find out more about your Kenyan Passport by Investment options here, or contact us now for a free consultation.
About the program
According to Kenya’s investment promotion agency, KenInvest, the programme is being considered with a view to increase foreign direct investment. While no specifics around the programme’s qualifying investments have been released thus far, it is understood that the Kenyan government will be looking to encourage business investments that will boost the country’s export earnings and aid in job creation.
With over 9% of the Kenyan population currently unemployed, this particular requirement is likely to a critical criterion to obtain Kenyan citizenship by investment as a foreigner.
According to KenInvest, it is expected that Kenyan residency status will be awarded, similarly to the workings of the US EB5 visa programme, however a full citizenship by investment programme, culminating in the issuance of a passport to the migrant investor, has not been ruled out. The framework for the programme is currently being developed, and according to KenInvest’s MD, the EB5 Visa Program vetting procedures will be used as the blue-print for the Kenya programme’s due diligence processes to avoid potential abuse.
A Kenyan passport by investment program will be a distinct departure from the current status quo; as it stands today, Kenya’s immigration legislation requires foreigners to reside in-country for at least 7 years before they become eligible to apply for citizenship by naturalisation.
As of 2019, a Kenyan passport affords the bearer visa-free access to 44 countries, including Tanzania, Uganda, Montserrat, the British Virgin Islands, the Bahamas, Cuba, the Cayman Islands, Panama, Vanuatu, Ethiopia, Rwanda, Hong Kong, Indonesia, the Philippines, Barbados, Trinidad and Tobago, St Vincent and the Grenadines, Dominica, Grenada, Antigua and Barbuda, Malawi, Burundi, Zambia, Zimbabwe, Botswana, Eswatini, Mauritius, Palestine, Namibia, Lesotho, Ghana, Senegal and the Gambia.
This is a developing story. For more information on the launch of the programme or to request the latest program fact sheet, contact us below:
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