Introduction
Recently, there has been a notable increase in foreigners who choose to not only work and invest in Kenya but also make it their retirement home.
If you are planning to spend your retirement in Kenya whether you wish to relocate from your home country, retiring after holding a Kenyan work permit, or concluding a diplomatic term, Kenya presents an option for you. The retirement permit for this purpose is referred to as a Class K permit (Ordinary residents) which has been discussed in this article.
Who qualifies for a Class K permit?
1. Persons who wish to relocate and retire in Kenya- This category of persons shall be required to at least purchase a family home here in Kenya and may even register a Family-owned Company or Family Trust to hold any other assets bought here in Kenya ;
2. Permit holders who have been working or investing in Kenya and have attained the age of retirement;
3. Foreign Ambassadors, Consulates and other categories of persons who enjoy diplomatic privileges together with their spouses who wish to remain in Kenya after retirement;
4. Foreign Widow who has been dependent on a work permit holder spouse (host ), especially in instances where the deceased’s Estate is sufficient to support the widow;
5. Foreign Widower who qualifies to be a dependent of a spouse who was a work permit holder
What are the Key Class K permit requirements;
To qualify for this permit, one should at least meet the following requirements;
1. Be of at least 50 years of age;
2. Have in their own right and at their full and free disposition an assured annual income of not less than USD 24,000 amount that is derived from sources such as pensions or annuities payable from sources in Kenya or other jurisdictions that may be deemed to meet merit by the Directorate of Immigration;
3. Undertake not to accept employment, paid or unpaid, or engage in any income-generating activity of any kind without a permit of the relevant class;
4. Their presence in Kenya must be of benefit to Kenya
What is the long-run Immigration status after retirement?
Noting that a Class K (ordinary residents) permit is subject to renewal every 2-3 years, it would be important to note that after holding a Class K (Ordinary Resident) Permit for a continuous period of Seven (7) years upon application and meeting all the other requirements one may apply for a Lawful Permanent Residence or Citizenship status.
Please Get in touch with us today for:
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Comprehensive advisory with respect to retirement permits in Kenya;
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Advisory on applicable Tax to retirees and other tax services;
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Immigration Advisory and Estate Planning to foreign Widows;
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Guidance on owning a family home and purchase of any other assets during retirement here in Kenya;
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Guidance on Registration of Family-owned Company or Family Trust; and
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Any other Immigration related issue.
Contact Persons & Contributors
Emily Gitau ( Associate Advocate)- egitau@cmadvocates.com
Wahu WAMBUGU ( Associate Advocate)- mwambugu@cmadvocates.com
Contact us now!
Whether you are based in Kenya or abroad, we offer support over email, a phone call, videoconferencing, eFor any enquiries on this or any other matter do not hesitate to contact us via email at our Immigration & Global Mobility practice group through immigration@cmadvocates.com or book a virtual consultation here https://cmadvocates.com/cm-request-consultation/.
Disclaimer
This article is for informational purposes only and should not be construed as legal advice.