Angola

Angola

Adoption of new private investment law

26 Jun 2018

The new Private Investment Law was approved by Law No. 10/2018, of 26 June 2018, revoking the former Law No. 14/15. It introduced the following changes, among others: • A minimum investment amount for access to tax benefits and incentives is no longer required; • The local partnership requirement previously established for certain sectors of activity has been abolished; • New implementation geographic development areas have been defined; • It introduces two new procedural regimes: (1) Prior-declaration Regime: applicable to investments not falling within the scope of priority sectors; investors may incorporate their local entities prior to the filing of investment proposals; (2) Special Regime: applicable to investments in priority sectors; SPVs incorporated under this regime are exempted from payment of taxes and fees (customs duties included) for a period of up to 5 years.

Nature of measure:
  • Liberalization
  • Incentives
Type:
  • Entry and establishment (Ownership and control)
  • Treatment and operation (Operational conditions)
  • Promotion and facilitation (Investment incentives)
Industry:
  • Not industry specific
Inward FDI:
No
Outward FDI:
No
Sources: