This is a retirements savings fund aimed to provide a saving and investment solution for the diaspora community both within and out of the country.
What is Diaspora and Expatriates Fund?
Governance of the Scheme
- The Enwealth Diaspora and Expatriate Fund is established through an irrevocable trust sponsored by Enwealth Financial Services Limited.
- It is registered by the Retirement Benefits Authority and Kenya Revenue Authority.
- The scheme assets are held by the appointed custodian in a nominee account and separated from the assets of the Custodian and the founding company enhancing the security of your retirement nest egg.
- The scheme has an appointed Corporate Trustee who is independent from Enwealth Financial Services Ltd and watches over the operations of the scheme on behalf of the members.
Why save with Enwealth Diaspora and Expatriate Scheme
- The Diaspora Fund is a Qualified Recognized Overseas Pension Scheme by HM Revenue & Customs of the UK government.
- It is registered by the Retirement Benefits Authority of Kenya
- The Diaspora Fund allows a client to invest in a USD or GBP or KES investment account.
- The Diaspora Fund provides a credible and tax efficient vehicle for corporates looking to provide pension for employees based in different countries within Africa, individuals’ expatriates working in Africa and Kenyans in the diaspora looking to save for their retirement.
- Members can propose on how their funds are invested by advising on their risk Preference (Low, Medium or Aggressive)
Frequently Asked Questions
Who are the target group?
- Kenyans workings in the diaspora.
- Expatriate working in Kenya from other countries.
- Expatriates working in Africa from other countries.
What are the joining requirements into the Fund?
- AML should be confirmed by the member.
- Account should be with registered Custodian Bank by CBK.
- The member should declare source of funds.
- The member should confirm investment fund and risk profile.
- Member should complete online application form and nominate the next of kin and beneficiaries .
What is the minimum investment amount?
Kes. 120,000 per annum per fund.