The Immigration and Citizenship Service (ICS) has unveiled a new 10-year residency permit known as the Golden Visa, aimed at attracting foreign investors who make substantial contributions to the country’s economy.
In an interview with ENA, Deputy Director-General Gosa Demissie explained that the initiative forms part of the government’s wider economic reform strategy to boost Foreign Direct Investment (FDI) and improve the business climate.
He indicated that ICS has been implementing significant institutional reforms to meet global standards and adapt to modern technological requirements.
The Golden Visa is intended to offer long-term residency security for investors, enabling them to live and conduct business in Ethiopia with fewer administrative challenges.
Demissie noted that similar long-term visa schemes are common globally, typically lasting between five and ten years, and said Ethiopia’s version is designed to remain competitive in attracting top-tier investors.
The visa will be issued as a standardized electronic permit, granting holders greater flexibility to reside in the country over a decade.
He added that the initiative comes as Ethiopia opens its real estate sector to foreign investors, with plans also underway to introduce a five-year property visa for individuals and families purchasing property.
According to Demissie, the Golden Visa will streamline processes, reduce delays, and eliminate redundant procedures, ultimately improving service delivery while increasing government revenue.
Investors will also benefit from simplified travel processes, including faster entry and exit procedures at Bole International Airport.
The introduction of the Golden Visa highlights Ethiopia’s goal of positioning itself as a leading investment destination in Africa.
By easing bureaucratic barriers, the government aims to stimulate industrial development, attract quality investments, and increase foreign exchange inflows, reinforcing the role of immigration services in national growth.
In addition to the Golden Visa, ICS has rolled out several modernized services, including faster processing options and digital payment systems to enhance user experience.
Ongoing digitalization efforts also feature improved visa-on-arrival services and more efficient passport distribution systems to clear existing backlogs.
Demissie emphasized that the broader objective is to create a more investor-friendly environment by making services more efficient and accessible, describing the institution as committed to both service delivery and problem-solving.
Source: myjoyonline
