Kenya to Give Citizenship to Wealthy Foreign Investors in New Plan
Kenya is in the process of amending immigration laws to make it easier for wealthy foreign investors to acquire Kenyan citizenship.
Kenya Investment Authority (KenInvest) says it is currently drafting legal changes to lower the threshold required for deep-pocketed foreign investors to get citizenship in Kenya.
KenInvest sees giving second citizenship to rich foreign investors whose businesses create new employment opportunities and increase export earnings as a way of growing the country’s foreign direct investment (FDI) flows.
“Listening to key policymakers, there’s really no opposition to it. What is required now is that there has to be a proper paper that will go to the Ministry of Interior so that it can now sponsor it, together with the Treasury, to go to the Cabinet,” said KenInvest managing director Moses Ikiara.
The existing laws require a foreign national to continuously live in Kenya for a minimum of seven years to qualify for citizenship by registration.
KenInvest is working with the Kenya Law Reform Commission in formulating the amendments that will act as non-monetary incentives to foreign investors.
Ikiara said the move has received the backing of the Nairobi International Financial Centre Authority, an entity created under the Treasury to lead efforts to establish the Kenyan capital as a regional financial hub.
“At our level, because we feel we can’t wait for other agencies to push, we are now pushing ahead (with draft legal changes) because we are agreeing with some of the key agencies,” he said.
Comments
Not about creating…
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Not about creating employment, it's about utilizing cheap labor in Kenya or most of Africa. Also, a way of using Kenya to hide wealth that would usually be taxed in those developed countries.
Whose policies are these?…
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Whose policies are these?
These laws need to be translated into local languages?
What is real Wanjuku's position on this?
These are the laws that will be qui ckly reversed when Kenyans wake up and realise Kenya is for sale to the highest bidder!!
So true!
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In reply to Whose policies are these?… by Anonymous UI (not verified)
So true!
..2nd colonization here I…
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..2nd colonization here I come.....
@JustMe...Kenya is being…
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In reply to ..2nd colonization here I… by JustMe (not verified)
@JustMe...Kenya is being sold to foreigners by the same family that sold our soul to the British...Kenyans wake up!!!!
You have money, you have a…
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You have money, you have a place in Kenya. Uhuru has put a price on Kenya. I wish kibaki was still president, he was all about progressing Kenya. Moi was a dictator and I’d still take his administration over the corrupt gov we have now. I thought by now Kenya would be in the developmentally progressed as South Africa.
This idea is dead on arrival…
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This idea is dead on arrival. It is based on the practice where Kenyan Tycoons buy European Citizenship and passports, to travel the World. It assumes that the Kenyan Passport has the same power... Newsflash... I am a Kenyan, and I don't need a Kenyan passport, to come to Kenya.
Bye bye to any prime…
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Bye bye to any prime property in Kenya, we will now just afford Turkana
KK’s Kibaki was no better…
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KK’s Kibaki was no better than the current thugs.He allowed SOMALI PIRATES a.k.a,AL SHABAAB to purchase property in Nairobi and Mombasa using dirty money or ransoms paid by captured ship owners.This made property in Kenya to have fake value which can negatively explode at any time.Executive prezo,Kibaki also ignored Michuki’s advice to VETO the constitution on financial grounds,I,e,no corresponding resources to finance it.
We do not need Kenyan…
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We do not need Kenyan citizens of Chinese origin in Kenya nor are we looking to be the next drug conduit region for West Africans specifically Nigerians.A certain community’s greed for money is destroying Kenya and will kill them if Corona does not get to them first and the irony is that all that money they seek to acquire by selling Kenyan livelihoods which is what they are doing (Chinese investment is not free) will be left right here when death comes knocking.
Such things need to be…
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Such things need to be public debate. Is Kenya on the market fore the highest bidder, now that we're borrowing right, left and back?
REVOLUTION, REVOLUTION,…
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REVOLUTION, REVOLUTION, REVOLUTION.
MORE CASH COWS COMING.
Invest in BELIZE, for only $250K you get your citizenship. Beautiful beaches and shore front properties.
Think about it.
Great investments.
Let's forget Kenya for a second.
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