Nairobi, July 16 -- Kenya has revived plans to introduce a "golden visa" programme that would grant immediate permanent residency to wealthy foreign investors, signaling a shift towards immigration incentives as the government competes for global investment capital.

The Kenya Investment Authority (Invest Kenya) says it is considering a residency-by-investment framework targeting investors who commit substantial capital, create jobs and generate exports, reviving a proposal first floated seven years ago, but never implemented.

The initiative would mark one of the biggest changes to Kenya's investment promotion strategy, beyond tax incentives to offer long-term residency rights sought by globally mobile entrepreneurs and multinational exe...