Country Profile
Namibia is a geographically large country with a small population of about 2.626 million (2024) and a 1,500 km-long coastline on the South Atlantic. It shares borders with Angola, Botswana, South Africa, and Zambia.
Namibia is rich in mineral resources, including diamonds and uranium. The resource wealth, political stability (or strong governance and institutions), and sound macroeconomic management have helped poverty reduction and allowed Namibia to become an upper-middle-income country.
Resource wealth, political stability (or strong governance and institutions), and sound macroeconomic management have helped poverty reduction and allowed Namibia to become an upper-middle-income country.
Political and Legal Overview
The government of Namibia is divided into three organs: The Executive, Legislature and Judiciary. Each organ is responsible for a different function of the government. The legislative branch is responsible for making laws which are implemented by the executive and interpreted by the judiciary. The President is the head of State and government. He/she is elected in a national election every five years. The Cabinet consists of the President, the Prime Minister, Deputy Prime Minister and Ministers appointed by the President. Together, they implement the policies guided by the constitution and acts of Parliament. The Judiciary consists of the Supreme Court High Court and Lower Courts. The Courts are independent and subject only to the Constitution and the law.
Other Facts
|
Capital |
Windhoek |
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Area |
824,290 sq. km(World data) |
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Languages |
English, Oshiwambo, Khoekhoego Afrikaans |
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Population |
2.626million (2024) |
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Currency |
N$ Namibian Dollar |
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GDP |
12.127 billion (2022) (UNCTADstats) |
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GDP per capita (current US$) |
4,724 (2022) (UNCTADstats) |
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GDP growth (annual %) |
2.58 (2022) (UNCTADstats) |
Why Invest in Namibia
a) Sound Financial System
Namibia’s financial system is both robust and profitable, with a wide range of financial markets, instruments, institutions, and infrastructure. The country’s financial markets have been ranked sixth most developed out of 26 African countries evaluated in a 2022 study conducted by the Absa Group in association with the London-based Official Monetary and Financial Institutions Forum (OMFIF). The Bank of Namibia and the Namibia Financial Institutions Supervisory Authority (NAMFISA) are responsible for ensuring financial stability in the country.
b) Strong Macroeconomic Framework
Namibia is an upper-middle income country with ambitions to become a high-income industrialised nation by the year 2030.
c) Commitment to Fostering a Conducive Business Environment
With the establishment of an Investment Promotion Agency, NIPDB, Namibia is committed to creating a conducive business environment in which investors can register and thrive. The Investment Board exists to develop new investment strategies, create a seamless investor experience and explore synergies with the public and private sector and to create a conducive investment environment in the country.
d) Globally Competitive Infrastructure
Namibia boasts a highly competitive and well-maintained network of transportation and communication infrastructure, including roads, airports, seaports, railways, electricity, postal services, and telecommunications. Accessing these services within Namibia is simple, straightforward, and hassle-free.
e) Good Governance, Peace and Stability
The Namibian Constitution is the supreme law of the country, and ushered in the principle of constitutional supremacy and a system of governance based on the principles of constitutionalism, the rule of law, and respect for the human rights of the individual. The application of the Constitution is successful in preserving equality, peace and stability. Namibia has seen three decades of independence, smooth transition of power between three presidents as well as peace, stability and progress.
f) Young, Educated and Trainable Workforce
Namibia has a relatively well educated and youthful workforce. In proportion to its population, the country has an abundance of public and private universities, as well as vocational training institutions distributed across the nation. The country’s education system is flexible and responsive to the needs of emerging industries, producing a competent and well-trained workforce.
g) Strategic Location
Namibia is uniquely positioned to serve as a gateway for the region. With an integrated system of well-maintained transportation networks, Namibia’s ports serve as an entry point for landlocked African countries seeking access to the global market.
h) Wider Market Access via Trade Agreements
Namibia currently has the following regional integration and bilateral trade agreements, amongst others providing market access to goods produced in Namibia:
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Africa Continental Free Trade Area (AfCFTA);
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Southern African Development Community (SADC);
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Southern African Customs Union (SACU) – South Africa, Eswatini, Namibia, Lesotho & Botswana;
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Economic Partnership Agreement European Union;
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Free Trade Agreement between the European Free Trade Association (EFTA) States and the SACU States (Iceland, Liechtenstein, Norway & Switzerland);
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Preferential Trade Agreement between the Common Market of the South and SACU;
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SADC & EU Economic Partnership Agreement (EPA).
Namibia Investment Promotion and Development Board (NIPDB)
NIPDB is Namibia’s lead Investment Promotion Agency with a commitment to create a simple and transparent business environment, built on the foundation of peace, stability and rule of law.
It commenced operations in January 2021, taking over the functions of the predecessor, the Namibia Investment Centre (under the Ministry of Industrialisation and Trade). Located strategically in the Office of the President, NIPDB serves as the first point of call for potential investors wanting to do business in Namibia. It promotes Namibia as the investment destination of choice by improving ease of doing business, eliminating red tape and driving policy reforms.
It provides investors with an end-to-end solution from facilitating exploratory visits, business registration, visas and permits application, to licences attainment and partnerships. Furthermore, NIPDB collaborates with relevant agencies to identify and find solutions to general and sectoral constraints, provides input in policy framework to create a conducive investment climate and provide aftercare services to current investors.
NIPDB also assumes the lead coordinating role across all levers for Micro, Small and Medium Enterprises (MSMEs) development nationally. It provides targeted support for the development, innovation and acceleration of MSMEs in four (4) focal areas: Access to Finance, Access to Markets, Capacity Building and Ideation.
Investment Opportunities
Potential areas for Business and Investment abound in the following sectors:
a) Agriculture and Agro-industry
Agriculture is one of Namibia’s most important sectors with around 70% of the country’s population depending directly on it for their income and livelihood. Livestock farming contributes to approximately two-thirds of agricultural production, with crop farming making up the remaining third.
Investment opportunities exist in:
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b) Mining
Namibia’s mining industry is one of the top 10 in Africa as per the 2021 Fraser Institute Annual Survey of Mining Companies. The mining and quarrying industry is one of the largest contributors to GDP (N$16 billion in 2020).
Namibia is the world’s fourth-largest producer of uranium oxide and largely sells to power utilities in Central Europe, North America and South-East Asia. Historically, diamond mining has been the leading sub-sector of Namibia’s mining industry and it places Namibia in the top 10 global diamond producers in the world. Namibia is also a leading producer of zinc and the fourth-largest exporter of non-fuel minerals in Africa.
Opportunities exist in:
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Mining of diamonds, uranium, gold, copper, lead, zinc and other base metals;
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Jewellery Manufacturing;
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Diamond polishing and processing;
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Copper smelting;
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Zinc processing leading to 99.99% pure zinc);
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Dimension stones (processing of marbles and granites into table toppers and tiles);
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Coarse salt processing;
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Cement processing.
c) Tourism
Namibia has a unique mix of wildlife, spectacular scenery, and diverse cultures. Tourism is the fastest growing economic sector and employs over 100,000 Namibians, making this sector an important employer that helps reducing rural poverty. The increase in tourism to Namibia has led to a much-needed growth in this sector.
Opportunities exist in:
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Development of up-market hotels;
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Development of International conference centres;
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Development of lodges and game parks;
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Construction of hotel and restaurants;
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Development of communal conservancies.
d) Manufacturing
Manufacturing sector is a key driver with high value for job creation and raising standards of living for the emerging economies of the world.
The sector remains key in the Namibia’s quest to industrialise thus presenting significant opportunities for high and sustained growth. Namibia’s vison 2030 envisions the growth of the manufacturing sector at 7.0 percent per annum to make it an industrialised country.
Opportunities exist in:
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e) Renewable Energy
The country is endowed with natural wind and sun resources, and is considered to be amongst the most competitive destinations in the world with potential to become a producer and exporter of green hydrogen, reckoned to catalyse the decarbonisation of the planet.
Namibia possesses a technical wind potential of over 100GW, making it one of the windiest places in the world with a capacity factor of around 50%. In addition, Namibia has a large capacity of rangeland and biodiversity which make it suitable for the accumulated biomass opportunities from bush thinning, making it an economically viable resource for value addition opportunities.
Opportunities exist in:
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f) Oil and Gas Sector
The oil and gas sector is a fairly new sector that requires further development for to grow. With the recent oil deposits discoveries in the Kavango East region and the Orange Basin Namibia is poised to become a major player in the oil and gas. The Government of Namibia has pledged to provide all the necessary support to ensure growth in the sector.
Opportunities exist in:
Upstream activities
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Searching for potential underground or underwater crude oil and natural gas fields;
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Drilling of exploratory wells;
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Bringing the crude oil and/or raw natural gas to the surface.
Downstream activities
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Refinery, reforming, blending storage, mixing and shipping of oil and gas.
Starting a Business
Business and Intellectual Property Authority (BIPA) is the focal point for the registration of business and industrial property. BIPA is established by section 3 of the BIPA Act, 2016 (Act No.8 of 2016) and is a Public Enterprise as defined in the Public Enterprises Governance Act, 2019 (Act No.1 of 2019).
Forms of Business
An investor wishing to invest in Namibia can register the following types of companies:
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External/Foreign Company – This is a company incorporated under the laws of a foreign company. They are required to register in Namibia in order to operate;
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Private Limited Company - One or more persons may form a private company for lawful purposes. The liability of each shareholder is limited to the original value of the shares issued to them;
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Public Limited Company - This is formed by 7 or more shareholders. The company can raise capital from the public and members of public may obtain substantial interest in the company. A public company may also list in the stock exchange.
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Close Corporations – Can be registered by a minimum of one and a maximum of ten members, who qualify for membership. The members of a corporation are not liable for the liabilities or obligations of the corporation merely by reason of their membership. A corporation shall have the capacity and powers of a natural person of full capacity in so far as a juristic person is capable of having such capacity or of exercising such powers.
Company Registration Procedure
a) Procedure for Registration of External Companies
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Submission of name application/reservation form CM5. Name search can also be done online via the BIPA portal: https://www.bipa.na/search/
Requirements:
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Completed CM5 Form (for reservation of a Company name);
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Copy of Identity Document of Applicant;
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Contact particulars (Mobile Number (Compulsory for submission) and Email Address (if available) of the applicant;
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Prescribed Service FeeN$75.00 (Payable in Cash at BIPA offices, Direct Bank Deposit and/or EFT).
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Once the name reservation is approved, the applicant proceeds to apply for a Certificate of Incorporation and Certificate to Commence Business. This requires the submission of the following documents to BIPA:
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Approved name;
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Certified copy of the Memorandum and Article of Association in triplicate, as it was registered in its original country;
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Notice of postal and registered address on CM22;
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List of Directors, Auditors and Public Officers on CM29;
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Appointment of an Auditor on CM31;
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Alteration to Memorandum of External Company on CM39;
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Application of Certificate of Registration of memorandum of External Company CM49;
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Statement by each Director regarding the Adequacy if Capital of Company on CM47;
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Request for submission of additional Copies on CM51.
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b) Private (proprietary) Limited and Public (Limited) Companies
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Submit name application/reservation form CM5 or reserve a name online
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Upon approval of the name, apply for company registration by submitting the following documents:
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Certificate to commence Business CM46;
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Certificate of Incorporation CM1;
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Memorandum of Association of a company that has share capital CM2;
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Copy of Name reservation approval letter;
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Notice of postal and registered addresses CM22;
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List of directors, auditors and public officers CM29;
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Appointment of Auditor CM31;
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Article of association of a company that has share capital adopting schedule 1 CM44;
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Article of Association of a company that has share capital not adopting schedule 1 CM44A;
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Signatories to the Article of Association CM44C;
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Request for submission of additional copies CM51 (where necessary);
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Certified copies of the Company directors.
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Note: The following are part of the Memorandum and articles of association booklet: CM1, CM2, CM44 or CM 44A and CM44C. This booklet is submitted in triplicate (i.e., x1 original copy and x2 notarised copies). The remaining documents are submitted as loose forms with the Memorandum and articles of association booklets.
Fees
|
Description |
Form |
fee |
|
Registration of memorandum and articles of a company having a share capital |
CM2 |
N$150.00 |
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Additional fee in respect of registration of memorandum and articles |
CM2 |
N$7.50 |
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A company having a nominal share capital having shares of par value for each thousand Namibian Dollars or part thereof |
CM2 |
N$7.50 |
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Notice of postal and registered addresses in duplicate |
Cm22 |
N$20 |
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List of directors, auditors and public officers in duplicate |
CM29 |
N$20 |
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Statement by each Director regarding the Adequacy if Capital of Company |
CM47 |
N$50 |
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Certificate to commence Business |
CM46 |
N$100 |
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Request for submission of additional copies CM51 |
CM51 |
N$10 |
c) Procedure for Registration of a Close Corporation
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Submit a name application/reservation form CC8. Name reservations can also be done online
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On approval of name reservation, submit a Founding Statement, form CC1. This requires the submission of the following documents:
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Copy of the approved form for name reservation;
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Founding statement in triplicate;
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Consent letter from the accounting officer;
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Certified Copy of passport in case of foreigners.
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If no identity document has been issued, a written statement to this effect must be attached.
Minor children and other persons under legal disability must be assisted by their parent, guardians or representatives, as the case may be and the capacity must be stated.
Fees
Source: BIPA
Other Registrations/Licenses
a) Licenses and Permits
Once the company has been registered, the investor will be required to obtain necessary permits from other government agencies such as the Ministry of Trade and Industry, Ministry of Environment and Tourism, or Ministry of Agriculture, Water, and Land Reform etc., depending on the nature of the business.
b) Tax Registration
The investor is also required to register the business with the Namibia Revenue Department to obtain a tax identification number (TIN) and comply with tax laws.
c) Register for social security
If the investor intends to engage employees, they will be required to register for social security contributions with the Social Security Commission. Social security contributions are payable by the employer for employees working in Namibia. The payments are based on a principle of 50/50 of 50/50 contributions from employers and employees.
Taxation
Businesses in Namibia are liable for the payment of the listed taxes.
a) Corporate Tax
Income earned by companies from a source within or deemed to be within Namibia will be subject to tax in Namibia.
The corporate tax rates are summarised below:
|
Entity |
2022/23 tax rate (%) |
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Domestic companies and close corporations (excluding entities mentioned below) |
32 |
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Branches of foreign companies |
32 |
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Registered manufacturers (only applicable for the first ten years of registration |
18 |
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Diamond mining companies and companies that render services to such companies in connection with diamond mining |
55
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Mining companies (other than diamond mining companies) and companies that render services to such companies in connection with mining |
37.5 |
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Long-term insurers (the rate is applied to gross investment income) |
12.8 |
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Petroleum income tax rate |
35 |
b) Value Added Tax
VAT is levied at the standard rate of 15% on the supply of most goods and services and on the importation of goods. It is mandatory for a person who carries on a business with an annual taxable turnover above 500, 000 to apply for VAT registration.
c) Withholding Tax
WHTs are applicable where certain payments are made to non-Namibian residents.
Dividends declared by a Namibian company to a non-resident holding company are subject to NRST, a WHT. NRST is payable at the standard rate of 10% if at least 25% of shares are held in the Namibian company and the shareholder is a company. In all other cases, the NRST payable is 20%.
NRST is payable within 20 days following the month that the dividends were declared.
Interest
A WHT of 10%, calculated on the gross amount of interest, is payable on interest accruing to any person, other than a Namibian company, from a registered Namibian banking institution or unit trust scheme. The tax withheld is a final tax, and the financial institution is responsible to withhold the tax.
d) Personal Income Tax
The tax rates for the taxable Income for the years of assessment ending 2022/2023 are as follows:
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Taxable income (NAD) |
Tax on column 1 (NAD) |
Tax on excess (%) |
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Over (column 1) |
Not over |
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0 |
50,000 |
0 |
0 |
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50,000 |
100,000 |
0 |
18 |
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100,000 |
300,000 |
9,000 |
25 |
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300,000 |
500,000 |
59,000 |
28 |
|
500,000 |
800,000 |
115,000 |
30 |
|
800,000 |
1,500,000 |
205,000 |
32 |
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1,500,000 |
|
429,000 |
37 |
Immigration Procedures
The Department of Immigration Control and Citizenship under the Ministry of Home affairs, Immigration, Security and Safety is mandated to facilitate lawful migration. This is done through the issuance of Visas, Permits, Entry/Departure stamps and through various types of Namibian citizenship.
Visa
Any foreigner wishing to visit Namibia is required to obtain a visa. Applications for the visas are done online through https://eservices.mhaiss.gov.na/. Investors can click here to get the list of countries that have Visa Exemption Agreements with Namibia.
General Requirements for visa:
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Application form;
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Certified copies of passport (person data page);
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Motivation letter from application/host/employer;
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Upon approval, applicant will be requested to submit passport together with original receipt of payment;
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Motivation letter stating among other things the reasons why a Namibian or Namibian service provider cannot be hired for the job;
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Proof that the post or services were advertised in local newspapers (attach list of unsuccessful shortlisted Namibian candidates or service providers);
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All copies must be certified.
Note: All applications for work visa beyond a period of six (6) months must follow the requirements of employment permit.
Additional requirements for employment visa:
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Proof of educational qualifications;
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Proof of tender/contract;
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Original police clearance certificate from country of origin (applicable for six (6) months applications only);
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Medical and radiological certificates/reports (applicable for six (6) months applications only).
Duration
The processing time is a minimum of 3 working days after submission of application. Applications should be submitted between 09:00 - 11:00 am and pick-up time is between 3:00- 4:00 pm.
Fees
|
Visas |
Holiday / Visitor's Visa and other Visas |
N$ 600.00 (First application and extension, up to 90 days per annum only) |
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Visas upon arrival |
N$1 200.00 Per Visa (Limited for 90 days) |
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Short Term Employment Permit |
N$1 100.00 (First application and extension, up to 90 days per annum only) |
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PRP Re-entry Visa |
N$ 800.00 (2 years) |
Work permits
Applications for work permits are made to the Department of Immigration. Below, are the various forms of permits issued
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Type of permit |
Requirements |
Validity |
Cost |
|
Employment Permit |
Upon approval, applicant will be requested to submit approval letter passport for endorsement together with original receipt of payment of permit |
Per Year |
N$2 600.00 |
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To be completed and submitted by the employer |
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Renewal/Extension of Employment Permit |
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Per Year |
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Permanent Residence Permit |
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Useful Contacts
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Namibia Investment Promotion and Development Board (NIPDB) Cnr Garten Street and, Dr. A.B. May Street P/ Bag 13340 Windhoek Namibia P/ Bag 12039 Tel: +264 (0) 83 333 8600 Email: info@nipdb.com |
Business and Intellectual Property Authority (BIPA) 3 Rühr Street, Northern Industrial Area P.O. Box 185 Windhoek, Namibia Tel: +264 61 299 4400 Fax: +264 61 401 061 Email: info@bipa.na |
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Ministry of Home Affairs, Immigration, Safety and Security MHAISS, Corner of Hosea Kutako Drive and Harvey Street, Windhoek, Namibia. P/Bag 13200, Windhoek, Namibia Contact Us: 081 9511000/081 951 0000 Namibia.Immigration@mha.gov.na E services portal +264 81 951 0184 / 0196 / 0629 |
Namibia Revenue Authority Moltke Street, Windhoek, Namibia +264 (61)209 2259 |
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Ministry of Industrialisation and Trade |
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