Namibia is one of the first African countries to introduce crypto regulation into its legislation. Like neighboring Botswana, Namibia has a solid link to the South African economy. This probably explains the friendly attitude towards crypto regulation.
Country overview
#102
NamibiaCountry stats
Rating Points
105
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
1%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
60
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
25 000
Total amount of crypto users out of the country's total population based on public data.
Taxation points
25
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
17.8
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Legally allowed
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
No info
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Very high danger
The overall level of security in a given country based on open data.
Crypto Salaries
No info
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No data
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
No data
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
FATF grey list
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
Crypto-to-crypto
This license type allows VASP to provide legal exchange from one cryptocurrency to another.
Crypto-to-fiat
This type of license regulates the exchange from cryptocurrency to fiat.
Wallet/Custody
This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.
ICO/STO
This indicator describes legal procedures for token sales and security token issuance. This country has a clear regulation framework and licensing procedures for entities that provide this activity.
Good
Medium
Bad
Namibia has a very high danger security level, according to our rating. Jurisdiction has 35.4 points (from 100) for safety level in Numbeo crime rating (1). The homicide level (2) is 12.4 per 100,000 inhabitants a year.
The Bank of Namibia (BoN) has announced that digital currencies such as Bitcoin can now be used as payment method. Although these currencies are still not recognized as legal tender in South Africa, BoN said merchants could accept payment in the form of cryptocurrencies.
Currently, there is no regulation for crypto salaries in Namibia.
In July 2022, Namibia's first Bitcoin ATM (3) became operational via the Crypto Kiosk at Maerua Mall in Windhoek. According to reports, The Crypto Kiosk fully complies with the Namibian Financial Intelligence Centre and all applicable Namibian and international laws.
According to the Virtual Assets Act (4) implemented in 2023 by parliament and the Prime Minister, the authority can license VASPs. The Bank of Namibia (BoN) is the regulator(5).
Firms are subject to different license classifications depending on their functions. There’s a license for initial token offerings, virtual asset broker-dealers, wallet services, custodians, and advisory services.
License holders must(6) also be incorporated in Namibia and comply with additional financial laws and regulations.
| Tax name | Index |
| PIT tax Min | 0 |
| PIT tax Max | 37 |
| Corporate tax (CIT) | 32 |
| Min Individual CGT (for crypto) | 0 |
| Max Individual CGT (for crypto) | 0 |
| Wealth tax Min | 0 |
| Wealth tax Max | 0 |
PIT
Individual Income Tax has(7) Progressive rates of up to 37%
CIT
Foreign companies are subject(7) to the same tax rates as local companies.
CGT
Namibia has no(7) capital gains tax; however, income from certain capital transactions is subject to income tax, regardless of its capital nature.
1)Crime Index by Country 2023 Mid-Year
2)List of countries by intentional homicide rate
3)Crypto payments are now legal in Namibia. Article
4 and 5)Namibia Government Gazette dated 2023-07-21, number 8143. Law
6) With the new law, Namibia pivots on crypto and will regulate — not ban — digital assets. Article