How to Invest in Angola

The law applies to private investments of any value, whether carried out by internal or external investors.

The external investor is any person, natural or legal, non-resident foreign exchange that carries out external investment.

Angolan law considers foreign investment to carry out investment projects through the use of capital titled by non-residents exchanges, which may, in addition to monetary means, also adopt the form of technology and knowledge, or equipment and other goods.

1. External investment operations are those carried out by non-foreign exchange residents with resources from abroad, namely:

a) Introduction into the national territory of freely convertible currency;

(b) the introduction of technology and knowledge, provided that they represent an added value to the investment and are eligible for cash assessment;

(c) introduction of machinery, equipment and other tangible fixed means;

(d) conversion of credits arising from the execution of contracts for the supply of machinery, equipment and goods, provided that they are proven to be payable abroad;

e) Acquisition of holdings in existing Angolan law companies;

f) Creation of new companies;

(g) the conclusion and amendment of consortia contracts, participating associations and other forms of business cooperation permitted in international trade, even if not provided for in the commercial legislation in force;

(h) acquisition of commercial or industrial establishments;

(i) the conclusion of contracts for the lease or exploitation of land for agricultural, livestock and forestry purposes;

(j) the operation of real estate complexes, whether tourist or not, regardless of the legal nature they assume;

(k) the realization of additional capital instalments, advances to shareholders and, in general, loans linked to profit sharing;

l) Acquisition of immovable property located in national territory, when such acquisition is part of private investment projects;

m) Creation of subsidiaries, branches or other forms of social representation of foreign companies.

2. For projects exclusively intended for export, the raising of funds from others abroad by external investors shall be considered for external investment operations, provided that the reimbursement of the debt service is guaranteed by export revenues.

1. Foreign investment may be carried out, alone or cumulatively, in the following ways:

(a) transfer of own funds from abroad:

b) Application of cash equivalents in national and external currency, in bank accounts constituted in Angola by non-foreign exchange residents, eligible for repatriation, in accordance with the applicable exchange law;

c) Application, in national territory, of funds in the context of reinvestment;

(d) transfer of machinery, equipment, accessories and other tangible fixed means;

e) Incorporation of technologies and knowledge.

2. The forms set out in points (d) and (e) of the preceding paragraph shall always be supplemented by the transfer of funds from abroad, in particular to cover costs of setting up, setting up and running costs.

The foreign investor is prohibited from the areas of defense, security and internal order, banking activity with regard to the functions of the BNA and other sectors that, by law, are considered absolute reserve of the State.

1. And guaranteed the right of intellectual property, in accordance with the law.
2. The State respects and protects the rights of possession, use and enjoyment of the land, as well as on other domestic resources, in accordance with the legislation in force.
3. Public interference in the management of private companies is prohibited, except in the cases provided for by law.
4. The cancellation of licenses or authorizations without the competent administrative or judicial procedure shall be prohibited.
5. Private investors shall have the right to import goods from abroad for the execution of their projects and to export goods, whether produced by them or not, without prejudice to the rules for the protection of the internal market laid down by law.
6. The exercise of the import and export activity referred to in the preceding paragraph requires obtaining the appropriate licences from the competent Angolan authorities.

The law obliges the investor to respect the legislation of the country, promote the national workforce, set up funds and reserves and make provisions, apply the existing plan of accounts and stability rules, respect the protection of the environment, hygiene, protection and safety of workers and keep up-to-date insurance against accidents and occupational diseases

Investors, , after the full execution of the P rojecto of Private Investment, duly co-approved by the competent au torities and, after the payment of taxes due and the constitution of the mandatory reserves, are entitled to transfe laugh abroad:

a) Amounts corresponding to dividends;

b) Amounts corresponding to the proceeds of the liquidation of their undertakings ;

c) Amounts corresponding to the compensation due to it ;

d) Amounts corresponding to royalties or ortros income from remuneration of indirect investments, associated with the supply of technology.

Companies covered by the foreign investment law are subject to the country’s tax law, enjoying the same benefits as national ones, can use domestic and external credit (licensed and authorized by the Ministry of Finance and the Central Bank) and must have accounts in national and foreign currencies at banks domiciled in Angola.