Addis ababa: The Immigration and Citizenship Service (ICS) has introduced a 10-year residency permit, known as the Golden Visa, aimed at foreign investors contributing significantly to Ethiopia's economy. This initiative is part of the government's broader economic reform agenda to create a more appealing environment for Foreign Direct Investment (FDI).
According to Ethiopian News Agency, ICS Deputy Director-General Gosa Demissie explained that the service has been undergoing institutional transformations to align with international standards and modern technological demands. The Golden Visa is intended to provide long-term stability for high-impact investors, allowing them to reside and operate in Ethiopia with minimal bureaucratic hurdles.
The Deputy Director-General noted that many countries offer similar long-term residency schemes, ranging from five to ten years, and that Ethiopia has introduced its own model to remain competitive. The visa is a standardized electronic permit valid for 10 years, allowing holders more freedom to stay in the country.
Gosa emphasized the initiative's importance as Ethiopia opens its real estate sector to foreign nationals. A five-year property visa will also be introduced for individuals and families acquiring immovable property in the country. The Golden Visa aims to reduce processing time, eliminate repetitive procedures, and improve efficiency, enhancing government revenue and bringing services closer to users.
Investors will benefit from streamlined entry and exit procedures, including faster processing at Bole International Airport for smoother travel experiences. The introduction of the Golden Visa highlights Ethiopia's ambition to position itself as a premier investment destination in Africa. By reducing administrative burdens, the government seeks to accelerate industrial growth, attract quality investors, and boost foreign currency inflows.
Besides the Golden Visa scheme, ICS has introduced modernized services, including expedited processing options and digital payment systems aimed at improving customer satisfaction. Digitalization efforts also include enhanced visa-on-arrival services and improved passport distribution mechanisms.
Gosa stressed the overarching goal of creating an enabling environment for investors by making services more accessible and efficient. "We are service providers and problem solvers," he noted, reaffirming the institution's commitment to facilitating investment.