The Namibia Investment Promotion and Development Board has urged current and potential investors to apply for the newly launched employment permit as it has distinct advantages over the old permit.
This comes after the launch of a new five-year employment permit to conduct business (investor permit).
This permit offers significant improvement in that it functions as work authorisation, giving qualifying investors and their core staff added certainty for long-term planning and business operations in Namibia.
The current standard employment permit lapses every two years.
According to the Namibia Investment Promotion and Development Board (NIPDB), the investor permit will enhance the country’s ability to attract and retain investors who contribute to sustainable economic growth.
“The launch of the new permit is directly aligned with commitments made by president Netumbo Nandi-Ndaitwah at the inaugural Namibia Public Private Forum, hosted by the NIPDB, in partnership with the National Planning Commission in October last year,” the board says in a statement.
The forum was convened to strengthen collaboration between the government and the private sector, with the shared objective of unlocking investment and strengthening Namibia’s business environment to spur economic growth.
The board says the introduction of the investor permit is an important step towards improving Namibia’s ease of doing business and enhancing the country’s overall competitiveness as an investment destination.
“We have listened to the feedback from our investors regarding some of the constraints they face, and this is just one way of demonstrating the government’s commitment to improving the ease of doing business in Namibia,” NIPDB acting chief executive Julia Muetudhana says.
She says the new permit gives investors the certainty and long-term security they need to commit to doing business in Namibia.
“It sends a clear signal that Namibia is not only open for business, but we are ready to provide an environment that allows businesses to thrive and create the necessary jobs for our people,” she says.
In line with the processes established by the Ministry of Home Affairs, Immigration, Safety and Security, applications for the investor permit are to be submitted through the NIPDB as the designated first point of call.
The board will confirm the investor’s status and conduct an economic evaluation of the proposed investment before submitting its recommendation to the ministry for consideration by the immigration selection board.
The prescribed application forms and supporting documentation requirements are available from the NIPDB office and website, as well as the ministry’s website and offices countrywide.
Applicants who are not eligible for the new five-year permit should apply through the existing employment permit process through the home affairs ministry.
– email: matthew@namibian.com.na
