Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the js_composer domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6121

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the miniorange-login-openid domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6121

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the google-analytics-for-wordpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6121
New Residency Investment Program Has Been Launched In Zanzibar
Thursday, May 15, 2025
  • Login
  • Register
Holiday Home Times
  • Magazine
    • Letters from the Editor
    • Guest Posts
    • Interviews
    • Host Academy
      • Holiday home Rental Basics
      • Planning
      • Guide to Marketing Your Holiday Home
      • Housekeeping
      • Permits and Insurance
      • Property Management Software
      • Interior Design
      • Smart Buy
      • Easy to make recipes
    • Living Your Dream Series
    • Property Guide
      • Overview
      • Legalities & Financing
      • Construction Guide
  • Project Reviews
  • Immigration
    • Immigration News
    • Golden Visa
    • Citizenship By Investment
    • EB-5 Visa Programs
    • Canada
    • Country Guides
      • Asia
      • Australasia
      • Caribbean
      • Dubai
      • Europe
      • North America
      • South America
      • Indian Ocean
      • Pacific Islands
  • Contact Us
  • Forums
  • My Account
    • Register
    • Login
    • My Profile
  • Realtors
No Result
View All Result
  • Magazine
    • Letters from the Editor
    • Guest Posts
    • Interviews
    • Host Academy
      • Holiday home Rental Basics
      • Planning
      • Guide to Marketing Your Holiday Home
      • Housekeeping
      • Permits and Insurance
      • Property Management Software
      • Interior Design
      • Smart Buy
      • Easy to make recipes
    • Living Your Dream Series
    • Property Guide
      • Overview
      • Legalities & Financing
      • Construction Guide
  • Project Reviews
  • Immigration
    • Immigration News
    • Golden Visa
    • Citizenship By Investment
    • EB-5 Visa Programs
    • Canada
    • Country Guides
      • Asia
      • Australasia
      • Caribbean
      • Dubai
      • Europe
      • North America
      • South America
      • Indian Ocean
      • Pacific Islands
  • Contact Us
  • Forums
  • My Account
    • Register
    • Login
    • My Profile
  • Realtors
No Result
View All Result
Holiday Home Times
No Result
View All Result
Home Immigration Citizenship By Investment

New Residency Investment Program has been Launched in Zanzibar

Pavel Dsilva by Pavel Dsilva
July 2, 2021
in Citizenship By Investment, Indian Ocean
0
New Residency Investment Program has been Launched in Zanzibar
0
SHARES
584
VIEWS
Share on FacebookShare on Twitter

The Government of Zanzibar has recently launched a residency program targeted at foreigners who wish to live and invest in the island territory off the coast of Tanzania.

This follows other significant developmental initiatives, especially in the infrastructure and tourism sectors, to stimulate growth in the economy after a dry spell left by the COVID-19 pandemic. Till this program was introduced, the 2018 Investments Act specified procedures and guidelines for Strategic Investment Status (SIS) Projects by providing incentives and allowances. However, it was mainly in the interests of real estate developers and did not offer any benefits for those who wanted to buy property and invest in the country. The result of this was that Zanzibar, despite being an exotic tropical destination with relatively affordable real estate prices, wasn’t able to conceive much development and lagged behind other countries such as Mauritius, Dubai and Singapore, who had already implemented strategic investment programs.

 This has changed with the introduction of the new investor program, which is specifically tailored to provide a vast amount of benefits to prospective forgeign buyers so as to attract more investment into Zanzibar, which in turn will boost the economy and achieve growth in the real estate investment sector and all the other sectors that compliment it. Real estate investors will now be able to obtain a residency permit as an investor, which essentially means that they can reside in Zanzibar as a non-citizen. There is no requirement to permanently live in Zanzibar.

 Tax and residency benefits for real estate buyers:

 1) No Income tax on worldwide income and wealth

2) Resident permit for villa buyers & partners and up to 4 children under 20 years of age

3) First buyer pays only 50% of normal capital gains on sale of a unit

4) Foreign ownership is allowed

5) Registration of ownership is  done by Zanzibar Investment Promotion Authority (ZIPA)

6) No VAT on rental or sale of a unit

7) Income tax is charged at 15% instead of 30% (applicable to foreigners only)

8) Repatriation of profit is allowed after tax

9) Residence permit is only valid for the duration the buyer owns the property for (renewable every 2 years at $3050 for the main investor and $550 for each dependent thereafter)

10) No work permit is given, but may be applied for separately by the employer

11) No minimum stay is required to claim benefits

 Business investors wanting to invest in ventures such as restaurants, bars, watersports and retail operations will receive similar benefits as real estate investors through approved “Strategic Investment” projects only.

Tax and residency benefits for business investors:

 1) Foreign ownership is allowed

2) No business license fees for the first 3 months

3) Income tax for the company is free for the first 5 years after which it will be charged at 15% (half of the local income tax)

4) Repatriation of profit is allowed after tax

5) 100% exemption on withholding tax on interest paid to foreign banks

6) Deduction of depreciation rate of 100% within 5 years

7) Residence and work permits can be obtained by both investors and employees.

Pennyroyal Ltd., the developer & manager of Blue Amber Zanzibar, is the first real estate project to be awarded SIS status by the Government of Zanzibar. Blue Amber is a luxurious, mixed-use development, incorporating residential properties, hotels and amenities for both tourists and locals and is spread across 411 hectares along the Muyuni waterfront in the north-eastern part of Zanzibar. It is currently the only SIS rated development on the island with an unspoiled beach and pristine views of Mnemba Island.

Construction began in the 1st quarter of 2020 with the villa residences and visitors center and is due to be completed in the next 18 – 24 months. The hotel, residences and retail sub-projects will commence in the near future with phase 1 expected to be completed in the next 2 years.

 Hussein Ali Mwinyi, the President of Zanzibar, signed a memorandum of understanding for the construction of a port in North Unuja, costing an estimated $230 million. Once it is completed, it will include container berths, liquid bulk goods, offshore natural gas services and marine vessel rehabilitation.

Another large project due for completion is terminal 3 of Amani Karume International Airport, which will provide an improvement in the quality and scale of customer care services for visitors to the island.

To get more information & assistance on Zanzibar’s Residency Program, please submit the form below and our specialist will get in touch with you at the earliest. 

Previous Post

Minimal Tips for Minimal Interior Design

Next Post

Tips for Creating an Eco-friendly Home

Pavel Dsilva

Pavel Dsilva

Related Posts

Portugal’s Golden Visa Program on the Chopping Block
Citizenship By Investment

Portugal’s Golden Visa Program on the Chopping Block

by Lester D'silva
November 17, 2022
Turkey set to Increase Citizenship by Investment Program Requirements
Citizenship By Investment

Turkey set to Increase Citizenship by Investment Program Requirements

by Dave Fernandes
April 13, 2022
Maldives Plan to get Tourists back on its Beaches
Indian Ocean

Maldives Plan to get Tourists back on its Beaches

by Pavel Dsilva
May 31, 2021
Overview of Fumba Town, Luxurious Residences in Zanzibar
Property Guide

Overview of Fumba Town, Luxurious Residences in Zanzibar

by Pavel Dsilva
May 19, 2021
Important!! Significant Negative Changes to Portugal Golden Visa come July 1st, 2021
Citizenship By Investment

Important!! Significant Negative Changes to Portugal Golden Visa come July 1st, 2021

by Nirie Sabnam
July 28, 2021
Next Post
Tips for Creating an Eco-friendly Home

Tips for Creating an Eco-friendly Home

Important Updates on the EB-5 Visa Program

Important Updates on the EB-5 Visa Program

Please login to join discussion

Some Useful Content

  • Editorial (98)
    • Guest Posts (15)
    • Interviews (24)
    • Letters from the Editor (17)
    • Living Your Dream Series (43)
  • Featured (1)
  • Guide To Holiday Renting (351)
    • Easy to make recipes (31)
    • Guide to Marketing Your Holiday Home (73)
    • Holiday home Rental Basics (37)
    • Housekeeping (20)
    • Interior Design (91)
    • Permits and Insurance (15)
    • Planning (37)
    • Property Management Software (4)
    • Smart Buy (41)
  • Immigration (81)
    • Canada (3)
    • Citizenship By Investment (16)
    • Country Guides (52)
      • Asia (5)
        • Cambodia (1)
        • Malaysia (1)
        • Thailand (1)
      • Australasia (2)
        • Australia (1)
        • New Zealand (1)
      • Caribbean (9)
        • Bahamas (1)
        • Dominican Republic (1)
      • Dubai (1)
      • Europe (12)
      • Indian Ocean (7)
        • Mauritius (1)
      • North America (3)
      • Pacific Islands (12)
      • South America (3)
        • Costa Rica (2)
    • EB-5 Visa Programs (3)
    • Golden Visa (10)
    • Immigration News (21)
  • Lifestyle (6)
  • Property Guide (510)
    • Construction Guide (19)
    • Legalities & Financing (71)
    • Overview (156)
    • Project Reviews (254)
  • Uncategorized (1)
sas

Holiday Home Times is the definitive guide to International Real Estate investing with a special focus on holiday home assets. Learn how to live a better life by investing in some of the most beautiful places on the planet and open your eyes to new opportunities - a beautiful life, tax free residency and a second passport with it's numerous benefits.

Contact us: editors@holidayhometimes.com

 

Privacy Policy

© Copyright - Holiday Home Times 2020

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Editorial
    • Letters from the Editor
    • Guest Posts
    • Interviews
    • Living Your Dream Series
  • Property Guide
    • Overview
    • Legalities & Financing
    • Construction Guide
  • Project Reviews
  • Immigration
    • Immigration News
    • Golden Visa
    • Citizenship By Investment
    • EB-5 Visa Programs
    • Canada
    • Country Guides
      • Asia
      • Australasia
      • Caribbean
      • Dubai
      • Europe
      • North America
      • South America
      • Indian Ocean
      • Pacific Islands
  • Rankings
    • Best Places to Live in the World
    • Best Places to Retire in the World
    • Best Places to Acquire a Second Passport
    • Best Places to Reside for the Wealthy
    • Best Places to Retire in the United States
    • Best Places to Live in the United States
    • Best Places to Live in India
    • Best Places to Retire in India
  • Host Academy
    • Holiday home Rental Basics
    • Planning
    • Guide to Marketing Your Holiday Home
    • Housekeeping
    • Permits and Insurance
    • Property Management Software
    • Interior Design
    • Smart Buy
    • Easy to make recipes
  • Contact
  • Login
  • Register

© Copyright - Holiday Home Times 2020

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?