Introduction
The Kenyan Investment Visa is for many reasons one of the most valuable certificates available to an investor looking to Africa for an investment opportunity.
Thriving Economy
Kenya has successfully liberalised their economy, removing any potential hurdles for overseas investors. They can now secure a free flow of trade and private investment, including but not limited to, exchange controls, and important export licensing.
Strategic Location
Kenya has the second-largest population within the East African Community (EAC) and boasts the largest and most advanced economy in both East and Central Africa.
Strategically, one can view Kenya as a gateway to the Eastern and Central African region, and its border with the Indian Ocean means it serves as a base for both production and distribution to Africa, Europe, the Middle East, South Asia, and many other Indian Ocean Islands.
Ease of Doing Business
The investment process is so sought after that it has been made simple and easy. It’s a relatively fool-proof process with multiple documents laying out exactly what is required and necessary for investors.
Every other sector welcomes foreign investment and aims to assist as much as possible.
Long-Term Residency
A Business Investment Visa provides both an investor, as well as their dependent family, the opportunity to relocate – to live in Kenya – and is a reliable route to permanent residency.
Being able to travel in and out of Kenya for a period of 2 years without hassle is one of the many incentives of a KIP.
Investment Opportunities
Kenya has created a favourable investment environment for foreign investors by introducing an equal treatment measure for international investors who hold a Business Investment Visa.
All investors receive the same legal rights and protections on their investments, regardless of sector or background.
This is a bonus on top of the already existing protection against the expropriation of profits.
Diverse Sectors
Kenya has pursued a mixed economy and boasts a dynamic private sector providing investors with access to raw materials, components, and specialised professional services of international quality.
There are plenty of sectors available to investors that include but are not limited to, Energy, Financial Services, Information and Communications, Technology, Real Estate, and Tourism.
Access To Regional and International Markets
Because Kenya is a geographical stronghold, the country is a brilliant gateway to the massive EAC, as well as the Common Market for Eastern and Southern Africa (COMESA) comprising hundreds of millions of people.
Kenya is a beneficiary of many trade agreements, one of which being The African Growth and Opportunities Act (AGOA), as well as the new Africa Caribbean and Pacific-European Union (ACP-EU) allowing duty and/or quota-free access to the USA and European markets respectively.
Ownership and Repatriation of Profits
The Nairobi Securities Exchange Kenya allows financial flexibility for those companies registered in Kenya.
Because of the laws in place protecting investment in Kenya, government entities are not allowed to interfere with or refuse the repatriation of profits or capital for investors. Investors get to enjoy both security and peace of mind.
Tax Incentives
Tax is another great investment incentive for international investors. There are a number of helpful treaties and protection laws and agreements to protect such international investment.
An example of this is the Multilateral Trade System (MTS) ACP Cotonou Agreement, which allows Kenyan exports to benefit from preferential access to various international markets.
Access to Finance
Kenya has in place incentives and programs to collaborate with privately-owned businesses to provide over USD500 million (KES70 billion) in the hopes of incentivising growth and accelerating economic development in Kenya.
The Kenyan Investment Mechanism (KIM), which is a government organisation, aims to amend previously recognised difficulties and problems present in the economy.
Networking and Collaboration
There are a number of collaboration sectors available to investors, such as the Kenya Private Sector Alliance, the Federation of Kenya Employers, and the Kenya Association of Manufacturers.
These long-standing associations create a sustainable and vibrant collaboration community both within and outside of Kenya.
Skilled Workforce
Kenya has one of the most educated, skilled, and diverse workforces in the world, with one of the biggest professional pools in Africa. There are qualified workers in every sector and showcase exceptional growth potential.
Kenya’s labour force is also at an all-time high and boasts the highest literacy rate in the Central African region.
Infrastructure Development
Kenya’s transport sector is one such sector expected to see considerable growth over the next few years, and Kenya’s infrastructure is recognised as the best prospect industry sector in the country.
Kenya boasts an extensive and overall better road and transport infrastructure than its neighbours, and Nairobi is recognised as the transport hub of both Eastern and Central Africa.
Quality of Life
Kenya has one of the most beautiful natural landscapes one can find on the African continent and has worked hard to provide an on-par culture and social experience for those who live and work in the country.
Kenya boasts a modern and vibrant social sphere with world-class entertainment sectors and spirited and welcoming people who speak English.
International Trade
Kenya operates on a market-based economy and is recognised as the economic, commercial, financial, and logistics hub of Eastern Africa.
Kenya’s strong industrial base in East Africa has drawn the eye of international markets, and the US has been consistently producing exporters and investors. In 2020 Kenya and the US negotiated a Free Trade Agreement (FTA) with the sole goal being to create a standard of agreements across Africa.
Return on Investment
There is a large amount of potential growth and profitability not just from the government’s assistance and support, but also from the rising middle class within Kenya and the already growing sectors, such as real estate and agriculture.
Networking And Collaboration
Kenya’s private sector is considerable and hosts a large number of foreign investors already. The ability to network and collaborate is not only easy but encouraged, and there are a number of key players within the sector.
These include the Kenya Private Sector Alliance, the Federation of Kenya Employers, and the Kenya Association of Manufacturers.
Conclusion
There are a large number of fantastic benefits to a Kenyan Investment Visa, and a wonderful opportunity to broaden one’s financial portfolio. It is also a wonderful chance to take advantage of the other countries in the Central and Eastern African Region.
It’s important to consider an advisor and ensure all the correct steps are taken, so as to fully exploit the fruits of investment labour in Kenya.
Written by Simon Carletti, PR and Creative Supervisor
