New Golden Visa Turns Residency Into a Bet on Foreign Capital

Apr 26 , 2026. By NAHOM AYELE ( FORTUNE STAFF WRITER )

At the newly inaugurated headquarters on Beyene Aba Sebsib Street, Selamawit Dawit, the director general of the Immigration & Citizenship Services (ICS), announced a policy shift. Ethiopia is introducing a "Golden Visa" scheme for foreign nationals. The move represents a folding of sensitive migration policy into the federal government’s wider drive to attract foreign capital and reduce procedural bottlenecks. For the first time, a residency document has been transformed into a tool for generating revenue and attracting specific, and high-value foreign residents.

Ethiopia is preparing to introduce a “Golden Visa” scheme for foreign nationals willing to invest substantial capital in the country or pay for residency privileges in foreign currency, as the federal immigration agency folds a sensitive area of migration policy into the government’s wider investment drive.

According to Selamawit Dawit, director general of the Immigration & Citizenship Services (ICS), the agency has begun issuing property-based residential IDs and visas to foreign nationals who own immovable property, including residential real estate. The change, disclosed at a press briefing she gave last week at ICS's new headquarters on Beyene Aba Sebsib Street, near Gotera Junction, turns a residency document into part of a broader federal effort to attract foreign capital, raise revenue and reduce procedural bottlenecks for selected qualifying foreign residents and their families.

The rollout gives legal effect to visa categories first introduced in February under the approved “Immigration & Citizenship Service Fee Regulation.” The Council of Ministers had discussed the regulation and unanimously approved that it would come into force upon publication in December. Officials said the revision was intended to close “gaps observed” in the implementation of the previous amended regulation and to facilitate enforcement of the law allowing foreign nationals to acquire immovable property.

The regulation, revised for the third time in four years, sets service fees across 21 areas, including residence permits. A five-year permanent residence permit now costs 3,000 dollars, triple its previous level. Expedited processing within one to two days costs applicants between 4,000 dollars and 4,500 dollars, placing speed among monetised premium services. Investment visa fees are tiered by duration. Applicants pay 60 dollars for a one-month visa, 150 dollars for three months and 250 dollars for six months. A three-year visa costs 2,000 dollars, while a five-year visa costs 4,000 dollars.

Foreign nationals buying a property can obtain a visa valid for up to five years for the same 4,000 dollar fee.

The property-linked arrangement offers foreign homebuyers a pathway to residency while enabling them to acquire immovable property under the new law. After the purchase is completed, the buyer receives a property-based residential ID valid for up to five years. Both the ID and visa can be extended to the buyer’s immediate family. If the property is sold, the ID is revoked, tying residency privilege directly to ownership.

The law allows foreign nationals who own immovable property in Ethiopia to acquire property through lease or by investing at least 150,000 dollars. Non-Ethiopian nationals covered by the law can obtain property-linked visas and residential IDs. The Golden Visa occupies a higher tier. Non-Ethiopian nationals seeking it are expected to pay 10,000 dollars. It grants residence permits and travel rights. Holders renewing after 10 years would again pay 10,000 dollars, while immediate renewal requires 12,500 dollars. The visa, however, is granted under “special circumstances.”

Such circumstances include foreign nationals investing five million dollars and engaging in activities considered favourable to the country's economic development, such as job creation or technology transfer.  According to the Director General, ICS will “soon launch these visas.” The country previously lacked a legal framework for Golden Visas or property-based visas for homebuyers.

“Now, we've established the law and are in the process of availing them,” Selamawit told Fortune. "The framework is designed to attract foreign direct investment and simplify procedures for foreign nationals seeking to work in the country.”

According to Biruk Nigussie, a former Ministry of Revenue staff member who advises on tax and investment issues, premium services for investors encourage investment and can deliver substantial benefits for the country. He believes such incentives “make them privileged and encouraged.”

"Investors may not come only for incentives and premium services," he said, "but such treatment can help them stay longer and invest more."

These changes arrive as the Service expands its revenue base and administrative footprint. In the first three quarters of the fiscal year, ICS reported total revenue of 31.2 billion Br, 88.3pc of which came from domestic services, with the balance from overseas consular services. Passport issuance also climbed by four percent from the same period last year, where the Service issued more than one million copies, including 1,986 service passports and 446 diplomatic passports during the period.

Border control remained central to Selamawit's report, including legal action against more than 10,530 individuals for attempted illegal entry or exit. The group included 4,576 foreign nationals and 5,954 Ethiopian citizens.

The investment backdrop is broader than immigration. Ethiopia attracted more than 3.19 billion Br in foreign direct investment, including Dangote Group’s fertiliser production complex in Gode, Somali Regional State. Under a joint venture arrangement, development costs are expected not to exceed 2.5 billion dollars, with completion targeted within 40 months from commencement. Ethiopian Investment Holdings (EIH) will hold a 40pc equity.

Biruk hailed the government’s stated commitment to change the culture of how foreign investors are treated as “commendable,” arguing that retaining investors through ease of doing business would benefit the country more in the long run.

PUBLISHED ON Apr 26,2026 [ VOL 27 , NO 1356]