Government introduces key measures to make the region attractive to foreign investment Image Credit: Supplied
The government of Zanzibar, one of Africa’s most prized travel destinations, has announced that a new tax and residency program is now available for foreigners wanting to live and invest in the island.
Until now, the Investments Act of 2018 provided procedures and criteria for Strategic Investment Status (SIS) projects with incentives and allowances to real estate developers, however the same was not offered to those wanting to buy property in the country.
The result has been that Zanzibar has not been able to attract any notable real estate development, where countries like Mauritius, Dubai, Oman, Singapore and others have thrived after implementing this strategy.
Zanzibar s New Tax And Residency Investment Scheme Set To Open Paradise To The World
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Zanzibar lures the world with new tax and residency scheme
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Dr Mwinyi welcomes governor Joho and his trade delegation
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Dr Mwinyi welcomes governor Joho and his trade delegation
ZANZIBAR President Dr Hussein Ali Mwinyi has welcomed Kenya traders to invest and conduct business in Zanzibar considering historical trade ties between the two countries.
He was speaking in Zanzibar at the State House when he met and held discussions with Mombasa County Governor Ali Hassan Joho who was accompanied by a delegation of Mombasa traders who showed intention to conduct trade between Mombasa and Zanzibar.
Dr Mwinyi told governor Joho that the Zanzibar government has put in place a friendly environment for investors and traders who aim to invest in the Isles.