Africa-Press – Tanzania. THE United States has reiterated its commitment to see more companies from Washington are investing in the country.
The government of Zanzibar, one of Africa’s most prized travel destinations, has announced that a new tax and residency programme is now available for foreigners wanting to live and invest in the island.
The latest measure comes on the back of significant infrastructure and tourism-friendly initiatives that allowed the idyllic Tanzanian region to weather much of the storm brought on by the Covid-19 pandemic in 2020.
And, the largest economy in the world welcomed the recently Zanzibar’s programme that will allow foreign investors to more easily take advantage of tax and residency benefits for investments on the islands.
The US Ambassador to Tanzania, Mr Donald Wright, said since coming to the country one of his key areas of focus was to develop two-way trade and investment between Washington and Dar es Salaam.
“…We are meeting both of those trade and investment objectives,” Amb Wright said during the launch of US based RE/MAX Coastal Realty’s office in Dar es Salaam.
The coming of RE/MAX franchise to Dar will eventually lead to US companies needing assistance finding commercial and residential real estate to support their business operations.
“These types of policies continue to make Tanzania and Zanzibar more attractive to US investors.
“In terms of investment,” Mr Ambassador said, “we are excited to see more and more US companies exploring the Tanzanian market for trade and investment opportunities”.
According to Office of US Trade Representative website, the US goods trade surplus with Tanzania was 203 million US dollars in 2019, a 13.8 per cent decrease (USD33 million) over 2018.
Ambassador Wright said each time a US business opens its doors in Tanzania it makes the two countries bilateral relationship “just a bit stronger” each year.
“The commercial relationship is a vital element of the sustained ties that we have enjoyed between our two countries,” Mr Wright said.
Tanzania and US is celebrating the 60th anniversary of strong bilateral relationship.
RE/MAX, powerful international brand founded in Denver, Colorado in 1973. Wednesday opened its office in Dar. Ever since, the firm expanded to 110 countries with over 6,800 offices.
RE/MAX is a real estate firm which will focus on rental and sales of residential, commercial and luxury real estate with more than 32 years of combined experience in the sector.
RE/MAX Coastal, Owner and Director, Stephi Hill Said revealed that they are looking forward to using their expertise and passion for real estate to help community members find their perfect property investment.
“It is our plan to assist in reducing the vacancy rates in Dar es Salaam,” she said adding:
I am also a firm believer in the RE/MAX capacity building program that provides the opportunity for Tanzanian youth to get started on their entrepreneurial journey through a new career.”
The RE/MAX Tanzania Regional Director, Mr James Prevost, said there was an increase in interest by foreign investors, creating a growing demand for residential and commercial real estate here in Dar.
“We are honored to be part of this groundbreaking opportunity to take part in the development of the formal real estate sector and the imminent boom in the property market,” Mr Prevost said.
RE/MAX has operated in Zanzibar (under the franchise of RE/MAX Omela) since 2016 and has stabilized the market by creating a formal, confidential and transparent process with property transactions, driving customer confidence.
