In Namibia, there are only three people per square kilometre, the top income tax rate is 37%, citizens pay no capital gains tax, and there is no estate duty to be paid. Added to this low population density and tax regime are abundant natural resources and low crime rates, which is why our neighbouring country in the desert is being tipped to be the next hot spot for dollar millionaires by wealth analysts at New World Health (NWH). In an interview with BizNews, Head of Research at NWH, Andrew Amoils said that Namibia shares many traits with Australia and could be described as the Australia of Africa. He says it is becoming a popular retirement destination, especially in parts of Windhoek and the areas between Swakopmund and Walvis Bay, where lifestyle estates are on the rise. If South Africa was safe and followed Namibia’s capital gains tax and estate duty policies, he said, it would be one of the wealthiest countries in the world in a decade. – Linda van Tilburg
Video production by Asime Nyide
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Timestamps
00:09 - Introductions
00:35 - Andrew Amoils on why Namibia has become a millionaire hotspot
02:53 - On if people go to retire there or to buy a second home there
04:56 - Dollar millionaires
06:06 - On if people are worried about corruption given Namibia’s history
07:33 - Namibian Currency
08:32 - Where do the millionaires come from
10:15 - Is there a golden visa or easy access
11:14 - Namibia’s trajectory
12:23 - The strongest grower at the moment
13:57 - Whats the profile of someone who is looking for a low tax base
16:19 - Conclusions
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