The Kenya Investment Authority (Invest Kenya) is developing a residency-by-investment programme—commonly known as a golden visa—that would grant permanent residency to foreign investors, including Nigerians, who commit substantial capital and create jobs in the country. The initiative is part of Kenya's strategy to solidify its status as East Africa's premier investment destination.
Programme Details and Legislative Hurdles
John Mwendwa, chief executive of Invest Kenya, confirmed the plan in an interview with Business Daily on July 16, 2026. 'We are exploring residency by investment. Directionally, that's the way investors would like it,' he said. However, the authority has not yet determined the minimum investment thresholds or which economic sectors would qualify. Mwendwa acknowledged that the programme would require new legislation, as immigration policy falls outside Invest Kenya's current mandate. 'We have to have parameters that make commercial sense,' he added.
The golden visa proposal revives a similar plan first considered in 2019 but never implemented. Under the existing framework, foreign investors must obtain a Class G Investor Permit, which demands a minimum investment of $100,000 in an active Kenyan enterprise, followed by a multi-year process to apply for citizenship. A permanent residency route would offer a faster, more predictable path for long-term operations, eliminating the burden of repeatedly renewing work permits.
Competitive Landscape and Startup Ecosystem
Kenya's move mirrors a global trend where governments pair tax incentives with residency rights to retain long-term investors. South Africa has offered permanent residency for investors of at least R12 million since 2002, while Mauritius reduced its minimum investment threshold from $500,000 to $375,000 in 2020 to attract post-pandemic capital. Nairobi already hosts regional offices for international venture capital firms such as Antler, Capria Ventures, Delta40, and Enza Capital. Venture capital relies on physical presence, with fund managers serving on boards, recruiting executives, and staying closely involved with portfolio companies over many years.
Kenyan startups raised $984 million in 2025, the highest on the continent and roughly a third of all startup investment in Africa, driven by deals in climate technology, energy, and fintech. Kenya maintained this lead into 2026, remaining the top startup funding destination in the first half of the year despite a global slowdown, according to a report by TechCabal.
Regional Competition and Nigerian Interest
A formal residency programme could sharpen Nairobi's competitive edge against rival investment hubs like Cape Town, Kigali, and Mauritius, all of which have policies to attract high-net-worth individuals and fund managers. The development comes as the Dangote Group plans a massive 700,000 barrels-per-day refinery in Kenya, with experts suggesting the new visa policy will particularly benefit Nigerian expatriates.
Currently, Nigerian passport holders can access 46 destinations in 2026 without a traditional visa, including visa-free entry, visas on arrival, or electronic visas. West Africa remains the most accessible region under the ECOWAS Free Movement Protocol, granting Nigerians visa-free entry into 11 countries, including Benin, Ghana, and Senegal.
Conclusion
Kenya's golden visa initiative, if enacted, would provide a streamlined pathway for foreign investors to secure permanent residency, boosting capital inflows and reinforcing the country's position as a leading investment destination in Africa. The programme's success will depend on legislative approval and the establishment of commercially viable investment parameters.
