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Zambia

Worldwide Golden Visa Application Requirements

Formal requirements

Zambia does not have a Golden Visa program, but it offers Investor's Permits for foreign nationals to establish or invest in businesses.

Other Investment Opportunities

Investment Certificate

Foreigners are allowed to obtain an Investors License which provides for investment in Zambia and  comes with several fiscal and non-fiscal incentives such as land ownership and conditional tax holidays.

The main obligation is the demonstration of financial capacity to the following levels:

  • New Business Investment: Applicants must demonstrate a personal investment of at least US$1,000,000 when establishing a new 100% Foreign owned business in Zambia.

  • Existing Company Investment: If one is joining an existing Zambian company, a minimum personal investment of:

    - US$ 50,000 in a Citizen wholly owned Company ( 100% Local Shareholding)

    - US$ 100,000 in a Citizen owned Company ( 50.1% + Local Shareholding)

    - US$ 150,000 in a Citizen owned Company ( 25.1%  -  50 %  Local Shareholding)

    - US$ 500,000 in a Citizen owned Company ( 5%  - 25 % + Local Shareholding)

 

The investment can be mainly in two forms:

  1. It can be in a specially designated Multi-Facility Economic Zone; or

  2. It can be in a designated ‘Priority’ sector. Current priority  sectors include the following:  Manufacturing, Construction, Water supply, renewable energy, focusing on solar and hydropower projects to meet rising energy demands.

 

Application Process:

  1. Prepare Documents

  2. Application Letter

  3. Application Form: Complete Form 27 for issuance or Form 11 for renewal.

  4. Basic business plan

  5. Provision of supporting corporate information

 

Associated Costs:

  • Non-refundable Processing Fee: K 2,844.40 ( approximately US$102 )

  • Issuance Fee: K17,044.40 (approximately US$579).

  • Renewal Fee: K20,200 (approximately US$726).

  • Duplicate Permit: K16,160 (approximately US$579).

 

The permit facilitates residency for investors and their immediate family members. It also assist in obtaining work permits for foreign employees that might be required to manage the investment.

 

Other Considerations

  • Renewal Requirements: Include a valid Tax Clearance Certificate, an audit report from a ZICA-registered firm, a current bank statement, and a lease agreement (if applicable).

  • Processing Time: While specific processing times are not detailed, it's advisable to apply well in advance of your intended start date to accommodate any potential delays.

  • Validity Period: The initial permit is typically valid for one year, with the possibility of extension for a minimum of two years upon renewal.

 

Other investment opportunities

Zambia offers a diverse range of investment opportunities facilitated by the Zambia Development Agency (ZDA) and the Zambia Revenue Authority annually reviews sector specific incentives aimed at driving growth in targeted areas, as need arises.

Key sectors  currently; agriculture, renewable energy, focusing on solar and hydropower projects to meet rising energy demands.

 

Link to the Zambia Department of Immigration- https://www.zambiaimmigration.gov.zm/

Link to Zambia Development Agency- http://www.zda.org.zm/