Ethiopia to Permit Foreign Nationals to Acquire Immovable Property

Ethiopia's Council of Ministers has approved a draft proclamation establishing a legal framework allowing foreign nationals to acquire immovable property under specified conditions, a significant departure from the country's historical restriction limiting property ownership to the state and citizens. The framework permits foreign nationals to acquire residential property through leasehold or outright ownership, provided they meet a minimum investment threshold of USD 150,000 per transaction and comply with safeguards overseen by the Ministry of Urban and Infrastructure.