Personal accounts: Namibia
An honest assessment before work starts, the quote is fixed in writing.
We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, and careful preparation improves the odds.
We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.
A personal account and private banking in Namibia
Large Namibian banks work alongside South African banks and offer wealthy clients private banking: a personal manager, foreign currency accounts, investment products and asset-backed loans. The Namibian dollar is pegged one to one to the South African rand, and Namibia is in the Common Monetary Area with South Africa, Lesotho and Eswatini, so transfers within the area are easier than elsewhere. Currency operations are controlled by the Bank of Namibia: money from abroad is best brought in through a bank with documents so it can later be taken out without delay.
We will calculate online the cost of opening a personal account and maintaining it for a year.
Account holder taxes
| Income | Tax |
|---|---|
| Resident income, including foreign interest | 0-37% on a progressive scale |
| Dividends to a resident | tax-free |
| Dividends to a non-resident | 10% or 20% at source |
| Capital gains | not taxed |
The law has no 183-day rule: residency depends on ordinary residence. Deposits are insured by the Deposit Guarantee Authority up to NAD 50,000, about $3,100, per depositor per bank, so large sums are spread across banks and products. More on our Namibia taxes page.
Documents and reasons for refusal
- Passport, proof of address and, if living in Namibia, a residence permit or visa.
- Source of funds and a plan to bring money in through a bank.
- Banks refuse if there is no link to Namibia, money comes from high-risk countries or you cannot attend a meeting.
What we do
- We choose a bank with private banking for your capital.
- We prepare source of funds and money transfer documents.
- We support the bank meeting and opening foreign currency accounts.
What we do
- Personal account - opening assistance
See also
Business account · Investment property · Country taxes · All country programs
FAQ
Can a non resident open a bank account in Namibia?
What documents are needed for a personal account?
Can I open the account remotely?
Will my account be reported to my home country?
Is there private banking for wealthy clients in Namibia?
Is deposit interest taxed in Namibia?
Are deposits insured in Namibia?
Is the Namibian dollar pegged to another currency?
Is there exchange control for individuals in Namibia?
Does Namibia tax capital gains?
What dividend tax does a non-resident pay in Namibia?
Want to open a personal account in Namibia?
We match a Namibian bank to your status, prepare the documents and explain how a non-resident opens an account under the exchange control rules. Every country is in the searchable catalogue.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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