Navigating Property Purchase in Kenya as a Foreigner: A Guide to Banking Solutions
Investing in property in Kenya as a foreigner requires a clear understanding of the process and the support of reputable banks offering tailored financing solutions. Here's a comprehensive guide outlining the requirements and processes involved when seeking property finance from select banks in Kenya.
- Stanbic Bank Kenya Property Finance: Stanbic Bank, operating in 20 African countries and beyond, offers specialized property financing solutions for foreigners. Requirements include:
- Completed home loan application form (provided by the bank)
- Copies of current pay slips (3 months if salary is consistent)
- Copy of identity document/passport
- Copy of Kenya Revenue Authority (KRA) PIN certificate
- Letter of reference from employer
- Copy of Title/lease (if available, provided after approval)
- Sale agreement/offer letter (if available, provided after approval)
- NCBA Property Financing Solutions: NCBA, primarily operating in East Africa, provides tailored property financing options for foreigners. Necessary documents include:
- Valid passport (with at least 6 months until expiry)
- Copy of entry visa pages
- Valid work permit/dependence permit/resident permit
- KRA PIN
- FATCA forms for US persons
- Passport photo
- DTB Property Finance for Foreigners: DTB, with a regional presence in East Africa, offers property financing solutions tailored to foreign buyers. Conditions include:
- Maintain an account with DTB where salary is channeled by the employer
- Reference letter from employer and/or bankers
- Bank statements for the last twelve months
- Last repayment date not to exceed retirement age or 60th birthday, whichever comes first
- Pay slip for the last 3 months (for salaried borrowers)
- Duly filled application form
- Foreign Certificate
- Passport
- Title deed
- Copy of sales agreement & Title deed
Navigating the property market in Kenya as a foreign investor is made more accessible with the support and expertise of banks like Stanbic Bank, NCBA, and DTB. With their tailored financing solutions and guidance, you can confidently pursue your property ownership aspirations.
