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Government introduces key measures to make the region attractive to foreign investment Image Credit: Supplied
The government of Zanzibar, one of Africa’s most prized travel destinations, has announced that a new tax and residency program is now available for foreigners wanting to live and invest in the island.
Until now, the Investments Act of 2018 provided procedures and criteria for Strategic Investment Status (SIS) projects with incentives and allowances to real estate developers, however the same was not offered to those wanting to buy property in the country.
The result has been that Zanzibar has not been able to attract any notable real estate development, where countries like Mauritius, Dubai, Oman, Singapore and others have thrived after implementing this strategy.
Zanzibar s New Tax And Residency Investment Scheme Set To Open Paradise To The World africa.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from africa.com Daily Mail and Mail on Sunday newspapers.