DOING BUSINESS

Key Legislation

The Private Investment Law, approved by Law 10/18, of 26 June, establishes the benefits and facilities granted by the Angolan State to private investors, the criteria for their access, as well as the rights, obligations and guarantees of the private investors. 

This Law applies to private investments of any amount – which means there is no minimum investment amount - and to both national and foreign private investors. It does not however apply to investments in sectors of activity specifically regulated (e.g. financial institutions, oil & gas, mining).

The Agency for Private Investment and Promotion of Exportations (in Portuguese, AIPEX – Agência de Investimento Privado e Promoção das Exportações) is the entity responsible for assessing the investment proposals and registering and supervising the investment projects.

What benefits and facilities can be granted to foreign investors?

1. Repatriation rights 
Upon full completion of the private investment project, payment of due taxes and incorporation of legal reserves in the investment corporate vehicle, foreign private investors are entitled to transfer abroad:
● Profits and dividends;
● Proceeds resulting from the liquidation of the investment;
● Proceeds from the indemnities;
● Royalties and other earnings resulting from indirect investments related to the transfer of technology.
 
2. Tax and financial benefits and other facilities
● Tax benefits relate to Corporate Income Tax, Investments Income Tax, Stamp Tax and others. Detailed information is included in the Tax section.
● Financial benefits refer to access to credit through government programmes supporting the economy, such as microcredit, interest subsidies, State guarantee and venture capital in the obtainment of loans.
● Other facilities relate to simplified and priority access to public administrative services, namely for the obtainment of licenses.
● The benefits and facilities are attributed based on (i) the sector of activity and (ii) the investment implementation zone.

3. Priority sectors of activity
For benefits attribution purposes, the following sectors of activity are priority:
● Education, technical-professional training, higher education, scientific investigation and innovation;
● Agriculture, food, agroindustry;
● Health units and specialized services;
● Reforestation, industrial transformation of forest resources and forestry;
● Textile, clothing and footwear;
● Hotel, tourism and leisure;
● Construction, public works, telecommunications and information technologies, airport and rail infrastructures;
● Electric power production and distribution;
● Basic sanitation, solid waste collection and treatment.

4. Implementation zones
For private investment purposes, investment locations are organized in the following implementation zones:
● Zone A – Luanda province, the capital municipalities of the provinces of Benguela and Huíla and the municipality of Lobito;
● Zone B – Provinces of Bié, Bengo, Cuanza-Norte, Cuanza-Sul, Huambo, Namibe and the remaining municipalities of the provinces of Benguela and Huíla;
● Zone C – Provinces of Cuando Cubango, Cunene, Lunda-Norte, Lunda-Sul, Malanje, Moxico, Uíge and Zaire;
● Zone D – Province of Cabinda.

5. Investment regimes
The Private Investment Law foresees the following investment regimes:
a) Prior declaration regime – in which the investment business vehicle (incorporated subsidiary or branch) is incorporated / registered before the registration of the investment project with AIPEX;
b) Special Regime – is only applicable to investments in priority sectors, which should be registered with AIPEX before the incorporation of the investment business vehicle. Regardless of the investment regime, the investment project registration with AIPEX is concluded through the issuance of a Private Investment Registration Certificate (in Portuguese, CRIP – Certificado de Registo do Investment Privado) by said entity.

6. Investment execution and implementation
The execution of the investment project should be initiated within the deadline established in the Private Investment Registration Certificate (CRIP). The investment can be executed through the following:
● Transfer of funds from abroad;
● Investment of foreign currency funds deposited in bank accounts domiciled in Angola and held by non-residents;
● Importation of machinery, equipment, accessories and other tangible fixed assets;
● Importation of technology and know-how.

AIPEX will monitor the execution and implementation of the investment project and may apply penalties in case of unjustified lack of compliance.

Prior declaration regime – tax benefits

BenefitsRate reducationTime
Real State Tax – on property acquisitions destined for offince or investiment building purpose 50% reduction - -
Corporate Income Tax (CIT) Provisional Payment (PP) Amortizations 20% reduction 2 Years
Investiment Income tax – on profit and dividend distribution 25% reduction 2 Years
Stamp Duty 50% reduction 2 Years
Special regime – tax benefits

BenefitsZone AZone BZone CZone D
Real State Tax-on property acquisitions destined for office or investment building purpose50% rate reduction75% rate reduction85% rate reduction50% reduction on Zone C rate
Property Tax-

-
4 Years duration

50% rate reduction
8 Years duration

75% rate reduction
8 Years duration

50% reduction on Zone C rate
Corporate Income tax 2 Years duration

20% rate reduction on the provisory and final payment

50% increase in the assets amortization rate
4 Years duration

60% rate reduction on the provisory and final payment

50% increase in the assets amortization rate
8 Years duration

80% reduction on the provisory and final payment

50% increase in the assets amortization rate
8 Years duration

80% reduction on ZONE C rate on the provisory an final payment

50% increase in the assets amortization rate
Investment income Tax -on profit and dividend distribuition 2 years duration

25% rate redution
4 Years duration

60% rate reduction
8 Years duration

80% rate reduction
8 Years duration

50% rate reduction on Zone C rate
Summary authored by PwC Angola   
The current Competition Law of Angola was recently approved by the Law n° 5/18, of May 10, 2018, with the intent of establishing the rules and regulatory principles of competition in the country. The present Law is applicable to all the exercised economic activities, permanently or occasionally, in Angola and to all the public and private companies, enterprise groupings, cooperatives, business associations and any legal entity with or without legal personality.

We would like to emphasize that the Competition Law provides the incorporation of the Competition Regulatory Authority, which will be governed by the public interest to promote and defend the competition.

In addition, the present Law determines the penalizations that might have to be applied in case of default. In fact, without prejudice to criminal and administrative liabilities that may be imposed, we emphasize that the Competition Regulatory Authority could potentially impose fines and additional penalties, namely the exclusion of the offender’s participation in procedures of public procurement for a period of up to three years.

Summary authored by EY Angola
The current General Labor Law was approved by the Law n° 7/15, of June 15, 2015 (rectified by the Rectification n° 15/15). This law is applicable to all workers who conduct remunerated activity dependent on others, within the organization and under its direction and authority, including public companies in Angola.

In addition, the General Labor Law is applicable to foreign workers who are nonresidents. In this regard, we reiterate that companies can only hire non-resident foreign workers to fill up to 30% of the workforce, with the remaining 70% constituted by national workers or foreign workers who reside in the country.

The General Labor Law establishes the rules and procedures applicable to the work relations, including its constitution, modification or termination, as well as obligations, rights and duties of workers and the employer. In addition, it reinforces that, for each year of service, besides the base salary and other obligatory benefits, all workers have the right to a minimum of 50% of the base salary as vacation subsidy, and a minimum of 50% of the base salary as Christmas allowance.

Summary authored by EY Angola   
The legal regime of creation and execution of Public Contracts in Angola is provided by the Law n° 9/16, of June 16, 2016 (rectified by the Rectification n° 23/16). This Law is applicable to public work contracts, lease or acquisition of movables, and acquisition of services provided by a hiring public entity, as well as contracts to be concluded by the hiring public entities that are not subjects to a special legal regime, to the contracts that are implemented through a public-private partnership, and also to contracts entered by the defense, security and internal law order, without prejudice to the other exceptions provided for by the law.

Under the terms of this mandate, the economic operators taking part in the process of creation or execution of the herein cited contracts, must observe the principles and rules of corporate governance, particularly: to provide information regularly; to maintain organized accounting; to possess internal control systems and to follow the rules of social and environmental responsibility.

Notwithstanding the specificities provide for by the law, the hiring public entities wishing to enter contracts, must adopt, according to the estimated contract value, one of the following procedures: public tender; restricted by previous qualification tender; limited invitation to tender; or simplified hiring.

Summary authored by EY Angola

In Angola, it is the Land Law (Law n° 9/04, of November 9, 2004) that determines the legal regime of integrated lands in the property originating in the State, including the land rights that may be applicable to them, and the general regime of transmission, constitution, exercise and extinction of the respective affecting rights.

The transmission, constitution and exercise of land rights over lands that the State can grant, must comply with the following principles: principle of original ownership of land from the State; principle of transmissibility of integrated land under the private sphere of the State; principle of useful and effective utilization of land; principle of the ability to be taxed; principle of respect for the land rights in rural communities; principle of natural resources ownership by the State and principle of non-reversibility of nationalization and confiscation.

This way, we reaffirm that the land constitutes property originating in the State. Nevertheless, and without prejudice of exceptions determined by the law, the State may transmit or encumber the property of integrated grounds in its private domain; however, businesses violating the public order are null and void.

We would like to emphasize that the transmission of the property rights and the constitution of land rights over integrated grounds in private domain of the State can only exist with the objective of ensuring their useful and effective utilization.

Summary authored by EY Angola 
The legal regime for foreigners in Angola is regulated by Law n° 2/07, of August 31, 2007, and by the Presidential Decree n° 108/11, of May 25, 2011, with the alterations introduced by the Presidential Decree n° 151/17, of July 4, 2017.

These mandates establish the rules and Angola’s visa procedures, including the applicable rules to consular visa, which in general must be granted by the Diplomatic and Consular Missions. There are ten consular visa categories: work visa; ordinary visa; short stay visa; temporary stay visa; privileged visa; tourist visa; transit visa; student visa; medical treatment visa and residency.

The foreign citizens who wish to work in Angola must request a work visa, for which it is necessary to previously obtain the favorable permission from the supervisory authority of the activity, in case of companies or private entities, or the Ministry of Public, Labor and Social Security Administration in case of public companies or institutions.

On the other hand, the ordinary visa must be requested by those who wish to visit Angola for family reasons or business prospection, and that, as a rule, is valid for 30 days and may be extended twice, for the same period.

Summary authored by EY Angola 
The Business Activities Law, approved by the Law n° 1/07, of May 14, 2007, establishes the applicable rules to the exercise of business activity in Angola. Under this law, the following activities are considered commercial: wholesale trading, retail trading, general trading, precarious trading, market trading, street trading, representation trading, provision of market services, import and export.

The Presidential Decree n° 193/17, of August 22, 2017, which approved the regulation on the licensing of establishments and the commercial activity and market services, complements the mandate and adapts it to the current needs. According to the aforementioned mandates, the exercise of commercial activities such as wholesale trading, retail trading, general trading and market services, when subject to licensing, require obtaining the respective commercial license, precarious commerce license, marketer card, street vendor card or market stall vendor card.

In turn, we reinforce that importers and exporters must be registered as such in the previously mentioned Importer and Exporter Record.

Summary authored by EY Angola 

Business Structures

Business can be conducted in a variety of forms in Angola, such as:

1. Private or public limited liability companies (in Portuguese, “sociedades por quotas” or “sociedades anónimas”, respectively);
2.  Branches of foreign companies;
3.  Partnerships (e.g. joint ventures);
4. Representative offices.

However, the business structures most commonly used by foreign investors are subsidiaries (private or public limited liability companies), branches or representative offices, which main differences are identified un the fllowing table:

Subsidiary Branch Representation office

● In the form of private or public limited liability companies;

● Have legal personality;

● Are allowed to undertake commercial activities in Angola;

● Separate statutory bodies;

● May have minimum share capital amount (please see below the differences between
private and public limited companies);

● Financial and accounting independence.

● Do not hold (separate) legal personality from the parent company;

● Are allowed to undertake commercial activities in Angola;

● Must adopt the corporate name of the parent company with the reference “Sucursal em Angola” – Which means “Angola Branch”;

● No minimum allocated capital is required;

● A branch manager is required.

● Not allowed to undertake commercial activities in Angola;

● The minimum allocated capital amount is up to the equivalent to USD 60,000;

● Registration requires authorization from the Angolan Central Bank;

● Must adopt the corporate name of the represented company with the reference “Escritório de Representação” – Which means “Representative Office”;

● May only have 6 employees, 50% of which have to be Angolan nationals;

● Private Investment Law is not applicable.

Features Private Limited Liability companies (“Sociedade por quotas”) Private Limited Liability companies (“Sociedade anónimas”)

Shareholders

 

Liability

Registered capital

Transfer of shares

Mandatory Statutory boards

Minimum of 2 shareholders (unless otherwise legally provided)*

Up to the per value of the quota(s) (Shares)

Capital is divided into “quotas”, which is an unitary measure of the actual
or future rights and obligations os a shareholder. A quota can be of the same
amount provided that each quota does not have a nominal value lower than AOA 1.
However there is no minimum share capital amount required

Must be executed in written form with presential recognition of signatures. Articles of
Association may set limits or conditions for the transfer of quotas, such as pre-emption
rights for the other shareholders or for the company itself

1. Shareholders’General Assembly

2. Management Board (Board of Directors). Directors must carry out any acts that are
necessary for or expedient to the pursuit of the company’s purpose, respecting the
resolutions of the members. The duties of the directors continue until the respective term,
if established by the articles of association or order act that designate the director (e.g. by
resolution)

Minimum of 5 shareholders (unless otherwise legally provided)*

Up to the per value of the subscribe Shares

Capital is divided into “shares”, which must be of the same nominal value,
and the minimum amount required is the equivalent in Kwanzas to USD 5. Difference types
of shares can be issued (bearer or normative) and a share certificated should be issued.
Minimum share capital amount is the equivalent ins Kwanzas to USD 20,000

Does not require any specific form and depends on the type of share issued by the company.
Articles of Association may set limits or conditions for the transfer of quotas, such as preemption
rights for the other shareholders or for the company itself.

 

1. Shareholders’General Assembly

2. Board of Directors

3. Audit / Supervisory Board

The process of the incorporation / registration of the company / branch in the context of a private investment project include:

1. Corporate name approval
2. Tax registration: the new entity should request its tax registration, which will be required for theopening of a bank account.
3. Opening a bank account: the initial purpose of the bank account is to be credited with the fundsto be transferred into Angola.
4. Importation of funds: once the bank account has been opened, the investors should transfer thefunds from abroad to such account.
5. Incorporation / registration procedures: include the execution of the incorporation deed or thesignature of the articles of association with recognition of the signatures of the shareholders ortheir representatives.
6. Registration with the Commercial Registry Office
7. Publication of the articles of association in the Angolan Official Gazette (branches are requiredto publish the articles of association of their parent companies).
8. Registration for statistical, labour and social security purposes.
9. Obtainment of the relevant operating licenses.

The incorporation process may be carried out before the Guichê Único da Empresa, whichfunctions as a “one-stop office” that concentrates all the required services for the incorporation(e.g. Public Notary, Commercial Registry Office, Commercial Bank).

(Summary authored by PwC Angola)

Trade Agreements

The African Growth and Opportunity Act (AGOA) is a United States Trade Act, enacted on 18 May 2000 as Public Law 106 of the 200th Congress and renewed in 2015 until 2025. The legislation significantly enhances market access to the U.S. for qualifying Sub-Saharan African countries.

In order to qualify and remain eligible for AGOA, each country must be working to improve its rule of law, human rights, and respect for core labor standards. The AGOA eligibility requirements are listed in more detail on the AGOA site: (https://agoa.info/about-agoa/country-eligibility.html)

AGOA builds on existing U.S. trade programs by expanding the (duty-free) benefits previously available only under the country’s Generalised System of Preferences (GSP) program.

For more information on AGOA, please visit the AGOA website (https://agoa.info/).
The Trade and Investment Framework Agreement between the Government of the United States of America and the Government of the Republic of Angola concerning the development of trade and investment relations has been signed in May 2009 and can be found on the following website (https://agoa.info/images/documents/5188/US-Angola%20TIFA%20English.pdf).

Procedures

(Summary authored by EY Angola)

Notwithstanding the rules of national or foreign private investment that may be applicable and any requirements that specific sectors of activity may require, companies must be registered with the Commercial Registry Office, Tax Office, National Security Institute Social, and the National Institute of Statistics, among others.

Currently, it is possible to carry out many of the acts inherent to the incorporation of a company or venture in the Company’s Single Counter, including, for example, the application for admissibility of the name to be adopted, the public deed, the commercial register, as well as the publication of the Articles of Association of the venture in the Official Gazette.
(Summary authored by EY Angola)

Generally speaking, the Angolan financial, banking and non-banking system, has shown some stability, in large part as a result from the transformation process to align with the best international practices. However, the banking financial system still has some systemic constraints, particularly with regards to high credit default ratios.

To address the challenge of bad credit, the State created an asset management company, Recredit, which has been acquiring high-risk assets from the public banks credit portfolios, and is working with other banks to acquire part of their bad credit.

In 2016, the total credit granted was more than USD $ 20,000 million, knowing that from about 30 banks authorized to operate in Angola, six control more than 65% of the total assets.

The financing of large public projects has been mostly provided by external financial institutions, such as international credit agencies, which require sovereign guarantees.

With regards to internal financing intended for the private sector, the Angolan Government has been developing some initiatives aimed at the creation and development of micro, small and medium-size companies. These initiatives are aimed at strengthening some priority sectors, such as the “Angola Investe” (Angola invests) initiative, promoted by the Ministry of Economy, which offers subsidized interest rates.

As a rule, for financing in foreign currency, Angolan commercial banks have avoided providing guarantees due to the existing exchange rate risk. Nevertheless, multilateral institutions such as the African Development Bank and the World Bank have concluded financing agreements with the Angolan government for the development of sectors such as agriculture, environment, rural development, health and education.

The venture capital market in Angola is still taking its first steps, already having the contribution of some public funds, such as the FACRA and FSDEA, and private funds, associated with banking or large business groups.


Summary authored by EY Angola
from Investiment guide
(Summary authored by PwC Angola)

The foreign exchange legislation in force in Angola qualifies as “foreign exchange operations” all the transactions between the national and a foreign territory, as well as between residents and non-residents for foreign exchange purposes. The foreign exchange operations are then divided into current invisible, goods and capital operations, each of them being subject to a specific legal regime.

A. Current invisible
The so-called “current invisible” operations basically consist of transactions involving any services or transfers between a resident and a non-resident entity related to, amongst others, transport, insurance, travelling, capital gains, commissions and brokerage, trademarks and patents and other intellectual property rights, administrative and operating costs, salaries and other personal services costs, as well as other services, income payments and private transfers.

Order 13/13, of 6 August 2013, of the Angolan Central Bank provides the applicable legal regime, establishing that contracts related to the provision of services are subject to prior approval of the Central Bank in the following situations:

• When the services contracts are of an amount higher than Kz 300M, and the beneficiary / payer of the services is a service provider to the oil and gas industry and is duly registered or/and has signed a “contrato programa” with the Ministry of Petroleum;

• When the services contracts are of an amount higher than Kz 100M and the beneficiary / payer of the services does not fulfil the requirements mentioned above.

If the amount of the services contract is below the foregoing thresholds, the operation should only be registered by the commercial bank in an electronic system called ‘SINOC – Sistema Integrado de Operações Cambiais’.

For the purposes of determining the amount of a given transaction, operations executed in the period of 1 year by the same payer to the same beneficiary, and which are of the same nature, are considered to be a part of the same contract.

Technical Assistance Agreements

Presidential Decree 273/11, of 27 October 2011, as amended by Presidential Decree 123/13, of 28 August 2013, sets forth the legal regime applicable to the so-called technical assistance and management services agreements. Although being a current invisible operation, these agreements are subject to a specific regime.

A technical assistance agreement consists of the provision of specialized administrative, scientific and technical services by a non-resident entity required by the local entity to maintain, improve or increase its production capacity in respect of goods and services, as well as to enhance the professional training standards of local employees when the required knowledge may not be found in the country.

These agreements are subject to prior approval by the Ministry of Economy in the following situations (consistent with the provisions of the abovementioned Order 13/13):

• When the technical assistance contracts are of an amount higher than Kz. 300M and the beneficiary / payer of the services is a service provider to the oil and gas industry and is duly registered or/and has signed a “contrato-programa” with the Ministry of Petroleum; and

• When the technical assistance contracts are of an amount higher than Kz. 100M and the beneficiary / payer of the services does not fulfil the requirements mentioned above.

If the amount of the technical assistance agreements is below the foregoing thresholds, the operation should only be registered with the Ministry of Economy.

B. Goods
Foreign exchange operations related to the payment of imported goods are foreseen in Order 6/18, of 17 July, and are not subject to prior approval by the Angolan Central Bank, only being required the registration of the operation by the commercial bank in the SINOC.

However, in order to ensure that the commercial bank registers the operation in the SINOC and actually executes the payment, the importation of the goods itself needs to be licensed in accordance with the relevant legislation. The licensing requirements are nonetheless quite straightforward, and almost automatically executed.

C. Capital transactions
Capital operations refer to transactions made under contractual arrangements between residents and non-residents (e.g. credit and loan transactions, capital transactions of personal nature). These operations are subject to prior approval by the Angolan Central Bank, regardless of the respective amount.

Instruction 1/2003, of 7 February 2003, of the Central Bank defines the type of transactions which qualify as capital operations, setting forth the corresponding requirements for their being approved by the Central Bank.


Summary authored by PwC Angola
From investiment guide
(Summary authored by EY Angola)

The Angolan tax system is composed of several taxes that are subdivided in taxation of income, sales and assets. The Oil & Gas sector has a specific tax regime. It should also be noted that currently Angola has no agreement to avoid double taxation with other countries in force.

Taxation of Income industrial Tax Profits from the business and industrial activities are subject to a tax rate of 30% The tax is calculated in the annual statement of income “Model 1,” which must be delivered by the end of May or April of the following year, depending on whether the company belongs to the Taxation Group A or B.

The provision of services to Angolan entities is, in most cases, subject to withholding tax at the rate of 6 5%. In addition, companies are subject to settlement and payment of the provisional Industrial Tax at the rate of 2% on sales of the first 6 (six) months of the current fiscal year, which must be delivered by the end of August and July of the current year, depending on whether the contributor belongs to Group A or B. It should be noted that the withholding tax on services and the settlement of the Provisional Industrial Sales Tax are for the purposes of calculating the final tax determined in the annual income tax return “Model 1”, when they are deducted from the final tax collection.

Tax on labor income (“iRT”) Income earned by single employees on the basis of work is taxed at progressive rates up to 17%, in accordance with the income levels stipulated in the table attached to the IRT Code.

The income earned by holders of management/administration positions or hold ersof corporate bodies is subject to withholding tax at the rate of 15%.

The income earned by independent service providers is subject to a tax of 10 5% in Group B and 6.5% or 30% if they qualify for Group C.

In general, the delivery of the tax occurs through withholding by the entity that makes the payment of the income.

Taxes on capital Gains
Income derived from capital gains is subject to taxation ranging from 5% to 15%, of which we emphasize:

• Dividends, royalties, interest on supplies, interest on demand investments and/or term deposits and positive balance between gains and losses – 10%

• Other income derived from the application of capital and interest on loans for financial loans – 15% It should be noted that the taxable income can either result from its attribution and/or payment, or from the presumption of its existence Asset Taxation Property Tax (“IPU”)

The IPU is levied on real estate assets and is due both for having property of own use and for the income from the lease of urban buildings

Thus, the following are subject to IPU:

• Own property – rate of 0 5% on amount that exceeds the asset value of AKZ 5,000,000

• Rental income – effective rate of 15% on the amount of income actually received

Succession and Donation Tax and SISA

The onerous transfer of real estate is subject to SISA at the rate of 2% on the acquisition value of the property Consumption Tax

The consumption tax is levied on the production, importation and sale of goods, as well as on the provision of certain services. The tax rate is 10% for the production and import of goods, although some goods have a lower rate, which may amount to 0%, while other goods may increase to 50%.

The services included in the scope of incidence are subject to rates of 5% or 10%. In the event that the service subject to Consumption Tax is provided by a non-resident entity, the Angolan beneficiary entity must proceed with the self-assessment of the tax With the expected entry into effect of the Value Added Tax on 1 January 2019, the Regulation of the Consumption Tax will be cancelled.

Value-added Tax
In accordance with the present draft law, Angola will introduce the Value Added Tax (“VAT”) as of January 1, 2019, and the current Consumer Tax Regulation will be cancelled. Its introduction will be divided in phases during the first two years and will be only mandatory for companies included in the list of Major Taxpayers.

Although the bill has not yet been approved, it is expected that the tax rate will be set at 14%.

Stamp Duty
Stamp Duty is due on acts, agreements, documents, titles, operations and other facts provided in the Schedule attached to the Stamp Duty Code. Among others, below some tributary facts and the respective rates are presented:

• Issuance of receipts of payment - 1%

• Financing - 0 1% to 0 5%, depending on the maturity of the loan

• Issuance of insurance policies - 0 1% to 0 4% depending on the type of insurance

• Acquisition of property - 0 3%

Contributions to Social Security

The income attributed to employees is payable to Social Security, in accordance with the following rates, on salary and other remuneration components:

• Workers’ share – 3%

• Employer’s share – 8%

Contributors who have documented proof that they are subject to another Social Security scheme in foreign territory are not bound by this regime.


Summary authored by EY Angola
From investiment guide
(Summary authored by EY Angola)

The new Customs Tariff entered into force on August 7, 2018. With reference to the previous customs tariff that had entered into force in the beginning of 2014, a transverse increase of customs rights occurred, while the rates of the consumption tax decreased for certain goods.

The following fees shall be levied on the importation of goods (including equipment), calculated on the customs value and determined in accordance with the applicable legislation:

• Import duties: between 2% and 70%

• Consumption tax: between 2% and 30%

• Stamp duty: 1%

• General customs duties: 2%

It should be noted that the Consumption tax rates will be revoked and will be replaced by new VAT rates, after the entry into force on January 1, 2019.

From investiment guide
(Summary authored by EY Angola)

The Presidential Decree No 75/17 dated April 7, 2017 established the new Administrative Procedures for the Licensing of Imports, Exports and Re-exports. As a rule, we must emphasize that the Register of Exporters and Importers (known as “REI”), which consists of the registration of economic operators in the Integrated System of Foreign Trade, is mandatory. By means of the present registration, the respective Certificate is granted to importers and exporters, which is valid for five years (although an update must take place every two years), under the aforementioned diploma.

For the purpose of recording and monitoring import, export and re-export operations, all operators involved in the operations in question shall use the Integrated External Trade System (“SICOEX”), under the supervision of the Ministry of Commerce.

The import, export and re-export operations may or may not be subject to licensing, which, in turn, may be automatic or not, under the terms of this Law. By means of example, it is not subject to licensing the temporary importation of goods subject, by law, to this customs regime, or the importation of parts and accessories covered by guarantee agreements, as well as the importation of donated goods, unless they are used.

The import, export and re-export of materials sent abroad for the purpose of testing, examination or research, for industrial or scientific purposes, or the import, export and re-export of samples are also exempt from licensing.

The settlement of import, export and re-export operations shall comply with the requirements and enforce applicable exchange rules and procedures under the Foreign Exchange Act and related diplomas.

With regards to the settlement of import and export operations of goods, we emphasize that the National Bank of Angola recently issued the Notice No 5/18 dated July 17, 2018, which established new rules and exchange procedures to consider in the payment procedure of these operations.


From investiment guide
(Summary authored by EY Angola)

Notice No 2/17, defines new rules for the opening and movement of accounts in Angolan banks, held by non-residents for foreign exchange purposes. Accounts in national currency can be operated by credit through income from economic activity in Angola or by conversion of foreign currency Debt transactions now include domestic transfers or use of debit cards, among others.

For accounts in foreign currency, this present notice limits the credit operations to funds coming from abroad and interest. Some players already offer the solution of opening an account online, though most still require the opening of the account to be done in person.

Documentation required to open an account:

Individual Account

•Letter of account opening, which can be obtained from the financial Institution

•Photocopy of identification documents of account holders or identity card for nationalcitizens

•Passport with Work Visa, Residence Visa or Residence Card, in case of foreign citizen

•Photocopy of the Taxpayer Card

•1 colour photocopy of each of the holders

•Service statement (optional)

•Statement from the Ministry of Finance (only needed for civil servants)

•Minimum amount for the initial deposit (amount defined by the financial institution)

Business account

•Account opening form to be obtained from the financial institution

•Letter from the company requesting the opening of the account

•Certificate of Commercial Registration

•Memorandum of association published in the Official Gazette and its amendments, if any

•Tax Registration Card

•Certificate of Statistical Registration

•Proof of Tax Settlement

•Permit to exercise the activity

•Photocopy of identification documents of the company representatives

•Certificate of power of attorney containing the names of company representatives, if any

•1 color photograph of each titleholder

•Minimum amount for the initial deposit (amount defined by the financial institution)


From investiment guide
(Summary authored by EY Angola)

The world’s largest economies are observing a growing importance of regulatory and compliance obligations, with a particular focus on the Prevention of Money Laundering (PBC), combating the financing of terrorism (CFT) and combating corruption. This concern has increasingly significant impacts on emerging economies such as Angola, where foreign investment represents an opportunity for development.

Regulatory bodies have been increasing pressure by applying fines of millions of USD to companies that do not make all the necessary efforts for PBC/CFT and to fight against corruption. This pressure, strong in other countries, especially in the USA and in the countries of the European Union (EU), also is felt by Angolan companies which are obliged to comply with compliance programs in order to establish business relations.

The adoption of better compliance practices by Angolan companies will have two effects of great impact. On the one hand, it will improve the efficiency of the company by reducing the cases of fraud, corruption and loss of revenues in such way. On the other, it will give a clear signal to the market and international investors that they are engaged in a new culture of ethics and integrity.

Companies that are quicker to respond to these requirements will be better positioned to attract international partners, by demonstrating policies aligned with the highest levels of demand in these areas. The compliance function is no longer a formality It has become a decisive factor in the competitiveness of Angolan companies for the attraction of investment.


From investiment guide

EMBASSY OF ANGOLA IN THE USA

Address
2100-2108 16th Street, NW
Washington, DC 20009
Tel.: +1 202 452 1042
Fax: +1 202 452 1043
Business hours
Embassy: Mondays to Fridays from 9:00 am to 4:00 pm
Consular: Mondays to Fridays from 9:00 am to 3:00 pm

Visa Section
Monday and Wednesdays from 09:30 am to 1:00 pm, drop off days only
Tuesdays and Thursdays from 12:00 pm to 3:00 pm, pick-up days only
Fridays: closed to the public
Email: visa.consular@angola.org
https://angola.org/consular-general/

PERMANENT MISSION OF THE REPUBLIC OF ANGOLA TO THE UNITED NATIONS
820 2nd Avenue, 12th Floor, New York, NY 10017
Tel: +1 212 861 5656
Fax: +1 212 861 9295
Email: theangolamission@angolaun.org
https://www.un.int/angola/

CONSULATE GENERAL OF THE REPUBLIC OF ANGOLA IN NEW YORK
866 United Nations Plaza
East 48th Street, 5th Floor
New York, NY, 10017
Email: info@angolaconsulateny.orgg
https://www.angolaconsulateny.org/

CONSULATE GENERAL OF THE REPUBLIC OF ANGOLA IN HOUSTON
3040 Post Oak Blvd, Suite 780
Houston, Texas, 77056
Email: sector-consular@angolaconsulate-tx.org
http://www.angolaconsulate-tx.org


Requirements for Obtaining an Entry Visa to the Republic of Angola

Transit Visa

Transit visa applications must be accompanied by the following:

  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • International yellow fever vaccination certificate
  • A recent color passport-sized photo
  • Photocopy of the ticket to the country of destination
  • Proof of holding an entrance visa for the country of destination
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Payment of $50.00 per entry (Visa, MasterCard, Discover will be accepted). Processing fees are non-refundable regardless of the outcome of the application.
Note:additional documents could be requested to support the visa application.

Tourist Visa

Tourist visa applications must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • Request letter from the visa applicant, addressed to the Consular and Diplomatic Mission of Angola (this letter must be notarized)
  • International yellow fever vaccination certificate
  • Evidence of means of subsistence and accommodation
  • One recent color passport-sized photo
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Photocopy of a return ticket to the Republic of Angola
  • Guarantee of means of subsistence equivalent to US $200, for each day of stay in Angola, under the terms of Article 19(1) of Law 2/07 of 31 August
  • Copy of the hotel reservation with the official stamp from the hotel
  • Payment of $70.00 (Visa, MasterCard, Discover will be accepted). Processing fees are non-refundable regardless of the outcome of the application)
Note:additional documents could be requested to support the visa application.

Short-Term Visa

Short-term visa applications must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • One recent color passport-sized photo
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Applicant's passport must be valid for a period of at least 6 months
  • Copy of the applicant's travel itinerary
  • International yellow fever vaccination certificate
  • Request letter from the visa applicant, addressed to the Consular and Diplomatic Mission of Angola (this letter must be notarized)
  • Guarantee of means of subsistence equivalent to US $200, for each day of stay in Angola, under the terms of Article 19(1) of Law 2/07 of 31 August
  • Copy of the hotel reservation with the official stamp from the hotel
  • Payment of $80.00 per entry (Visa, MasterCard or Discover). Processing fees are non-refundable regardless of the outcome of the application.
Note:additional documents could be requested to support the visa application.

Work Visa

Work visa applications must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • Letter from the contracting company, requesting the visa, addressed to the Consular and Diplomatic Mission of Angola, with a copy to the Migration and Foreigners Service
  • Academic and professional certificates translated to Portuguese, authenticated by a notary and by the Consular and Diplomatic Mission of Angola
  • Criminal background check, issued by the authorities of the country of origin or residence, translated and duly authenticated
  • Medical certificate from the country of origin, translated and duly authenticated
  • Statement pledging to respect Angolan laws
  • Work contract or promise of employment
  • Curriculum Vitae
  • Opinion of the Ministry of Public Administration, Employment, and Social Security for public enterprises or state institutions, and from the respectively ministry for the activity in question for private enterprises and organizations
  • Three recent, color passport-sized photos
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Photocopy of the permit for the authorized economic activity
  • Photocopy of the Official Gazette of the Republic (Diário da República), publishing the by-laws of the company
  • Evidence of payment of tax obligations
  • Payment of $250.00 (Visa, Master Card or Discover). Processing fees are non- refundable regardless of the outcome of the application)
Note:that all documents must be translated to Portuguese and authenticated by the department of state (please see authentications requirements plus additional fees).
Note2:additional documents might be requested to support the visa application.

Temporary Stay Visa

Temporary stay visa applications must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • Request letter, addressed to the Consular and Diplomatic Mission of Angola, for a temporary stay visa
  • Academic and professional certificates translated to Portuguese, authenticated by a notary and by the Consular and Diplomatic Mission of Angola
  • Criminal background check, issued by the authorities of the country of origin or residence
  • Medical certificate from the country of origin
  • Evidence of family relations with national citizens or foreign legal residents in the country
  • Evidence of means of subsistence and accommodations
  • Three recent, color passport-sized photos
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Statement pledging to respect Angolan laws
  • Payment of $150.00 (Visa, Master Card or Discover). Processing fees are non- refundable regardless of the outcome of the application)
Note:that all documents must be translated to Portuguese and authenticated by the department of state (please see authentications requirements plus additional fees).
Note2:additional documents could be requested to support the visa application.

 

Ordinary Visa

Ordinary visa applicaitons must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • A letter addressed to the Embassy of Angola, Consular Section (2100-2108 16th Street, NW, Washington, DC 20009)
  • Evidence of the legal establishment of the company: copy of the business permit
  • Copy of evidence of payment of current taxes (industrial payment tax for the current year)
  • Copy of the company’s publication page in the official gazette of the republic (Diário da República)
  • Identification of the person signing the letter (B.I. or passport if the signer is an Angolan citizen, or passport with Angolan visa if the signer is a foreigner)
  • The Letter from the private enterprise sponsoring the visa applicant must be notarized and authenticated by the Ministry of Foreign Affairs of Angola
  • Guarantee of means of subsistence of the visa applicant (bank statement for the current month), equivalent to US$200 for each day of stay in national territory, under the terms of Article 19(1) of Law 2/07 of 31 August if (unless the Letter of invitation states that they will be responsible for your stay)
  • Two recent color passport-sized photo of the visa applicant
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Copy of the hotel reservation (unless the Letter of invitation states that they will be responsible for your stay)
  • Payment of $100.00 for AMERICAN PASSAPORTS (Visa, MasterCard)
  • Payment of $70.00 USD for MEXICO & CANADA PASSAPORTS (Visa, MasterCard)
Note:additional documents could be requested to support the visa application.

Privileged Visa

Privileged visa applications must be accompanied by the following:
  • Visa Application Form, duly completed in black ink and signed by the applicant
  • Request letter, addressed to the Consular and Diplomatic Mission of Angola
  • Criminal background check, issued by the authorities of the country of origin or residence, translated and duly authenticated
  • Medical certificate from the country of origin, translated and duly authenticated
  • Proof of existence of means of subsistence
  • Three recent, color passport-sized photos
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Statement pledging to respect Angolan laws
  • Investor certificate
  • Proof of authorization to import capital for the required investment, from the competent banking entity
  • Valid proxy for the person representing the investor in Angola, if applicable
  • Payment of $250.00 (Visa, Master Card or Discover). Processing fees are non- refundable regardless of the outcome of the application)
Note:additional documents could be requested to support the visa application.

Student Visa

Student visa applications must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • Request letter, addressed to the Consular and Diplomatic Mission of Angola
  • Criminal background check, issued by the authorities of the country of origin or residence, translated and duly authenticated
  • Medical certificate from the country of origin, translated and duly authenticated
  • Proof of existence of means of subsistence
  • Three recent, color passport-sized photos
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Statement pledging to respect Angolan laws
  • Duly authenticated proof of enrollment in a learning institution or guarantee of attendance from said institution, if applicable
  • Evidence, issued by the competent institution, of the awarding of an academic degree or recognition of the scientific interest of research work, if applicable
  • Internship program or training contract, if applicable
  • Payment of $150.00 (Visa, Master Card or Discover). Processing fees are non- refundable regardless of the outcome of the application)
Note:that all documents must be translated to Portuguese and authenticated by the department of state (please see authentications requirements plus additional fees).
Note2:additional documents could be requested to support the visa application.

Diplomatic, Official, and Courtesy Visas

Applications for diplomatic, official, and courtesy visas must be accompanied by the following:
  • Visa Application Form, duly completed, in black ink and signed by the applicant
  • Two recent, color passport-sized photos
  • Original and photocopy of passport (the main pages and those containing information on migratory movements)
  • Applicant's passport must be valid for a period of at least 6 months
  • Copy of the applicant's travel itinerary
  • International yellow fever vaccination certificate
  • Verbal note from the U.S. Department of State, the United Nations, or the appropriate diplomatic mission, consulate, or international organization
  • Diplomatic, official and courtesy visas are free
https://angola.org/visa-requirements/ https://secureservercdn.net/50.62.89.138/7jj.919.myftpupload.com/wp- content/uploads/2019/04/Visa-Application-Form-1.pdf

Authentication Requirements

In order to be accepted in Angola, all documents issued by official entities in the United States such as birth, marriage, and death certificates, school transcripts, criminal record certificates, or documents issued by an American Court. Must do the following:
  • ALL documents MUST be translated into Portuguese (including the cover)
  • Document MUST be notarized by a local notary public
  • A translation Certification must be enclosed
  • Document MUST be authenticated by the Secretary of State in which the document was issued
  • ALL Document MUST be Authenticated by the Department of State, Including the PORTUGUESE Translation, CERTIFICATION of the Translation and Grommet together before we can finally legalize it
  • ONE (1) set of copies of every document MUST be presented
  • Authentication fee $150 per document
  • Duration for all process 2-3 Business day. NOTE: Your document must be authentic, intact and legitimate
The Embassy/Consulate Generals will NOT authenticate documents containing illegal content under Angolan laws.