ANIP e-News Bulletins

Landgesetz / Lei de Terras

Business Forum der portugiesischsprachigen Länder

Das Business Forum der portugiesischsprachigen Länder Angola, Mosambik, São Tomé, Kap Verde, Guinea- Bissau, Brasilien und Portugal, ist gegründet worden, um Geschäftskontakte zwischen Diesen Ländern und dem Rest der Welt zu ermöglichen. Das Forum dient hauptsächlich dem Mittelstand und kleinen Betriegen, die Schwierigkeiten haben, die Sprachbarrieren zu überwinden.

Die Aktivitäten des Forums haben sich als erfolgreich erwiesen und werden sehr of von Firmen aus Asien genutzt, die direkte Kontakte ohne die aufwendige Vermittlung von Maklern suchen.

Kontakte mit dem Forum können unter folgender Adresse gemacht werden:

Dr. Francisco Mantero, Generalsekretär
Edifício Logoplaste
Estrada da Malveira, 900
2750-782 Cascais, Portugal
Tel.: 00351 21 485 86 00
Fax: 00 351 21 485 86 09
Mobil: 00 351 91 755 35 76

ANIP

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About Us

The Agência Nacional para o Investimento Privado (National Agency for Private Investment - ANIP) is a government agency created to reduce red tape and facilitate and encourage private investments in Angola. It is charged with implementing the national tax incentive policy and providing a direct channel of communication with investors.

Through ANIP, the periods for evaluating investment proposals have been reduced to 15 days for investments of USD 50,000 to 5 million, and 30 days for projects worth more than 5 million, which must be approved by the Cabinet of Ministers.

ANIP also provides technical and legal assistance as well as conducting market studies for national and foreign investors to help identify investment opportunities.

The new Private Investment Law not only reduces red tape but facilitates legal processes and provides a number of guarantees to private investors, such as guaranteed repatriation of capital. To read the law in full, download the PDF file in this site.

INVEST IN ANGOLA

Why to Invest In Angola

Angola ranks among the countries with the highest growth potential in Africa. It produces 800,000 barrels of oil daily and has estimated reserves of 10 billion barrels. It also has diamonds, 3 million hectares of arable land, many valuable minerals, and one of Africa’s largest water reserves, which gives it massive potential for producing electric energy and fishing.

This country was once the world’s fourth-largest coffee producer, a major iron ore producer and an exporter of high-quality marble, food and sisal. The industrial sector produced food, beer, textiles, cement and much more. Now, following the advent of peace, the government wants to resume development in order to rebuild and restore Angola to former its position in the business world. Inflation has been kept in check in recent years, and there is a confirmed downturn. The government is carrying out a program to privatize state-owned companies and opening up the oil business to international firms.

How to Invest

To Invest Foreign Capital In Angola, You Must:

• Submit a proposal to the Agência Nacional para o Investimento Privado (National Agency for Private Investment - ANIP), together with the documentation necessary to identify and characterize the investor’s legal standing and the planned investment. For investments of up to USD 5 million, such proposals can be submitted by filling out a “Declaração Prévia” (“Prior Declaration”) form available at ANIP.
• Submit a Certificate of Admissibility for firms planning to set up a company in Angola.
• Submit a social commitment for the future company, and, when appropriate, attach a power of attorney when acting through a legal representative.
• Submit a Criminal Record Certificate (for individual investors).
• Submit a list of the equipment and facilities to be incorporated into the project, when appropriate.
• Attach By-Laws and Corporate Minutes to the process if the investor plans to become a partner in an existing company.

* Once the investment has been approved, ANIP will issue a Certificate of Registration for Private Investment (CRIP), a copy of which will be sent to the National Bank of Angola (BNA) for the effects of authorizing the entry of foreign capital through a loan institution authorized to operate in the exchange business.

Angola’s policy on private investments includes guaranteed incentives and other facilities, equal treatment for foreigners and Angolan nationals, and safeguards and protection of investments, as well as respect for and full compliance with international accords and treaties. Investors are free to choose which zone or area to invest in, except for those areas reserved for the State by law.

Protection for businesses :

1. The Government of Angola guarantees that all private investors have access to Angolan courts of law to defend their rights, and they are also guaranteed the right to due legal process.
2. In the case of expropriation of assets that are the object of private investment, due to force majeure and with full legal justification, the Government guarantees that payment of fair compensation will be made promptly and effectively, the amount of which will be determined in accordance with the applicable rules and regulations.
3. The assets of private investors cannot be nationalized.
4. If there is any change in the nation’s political or economic regime that results in exceptional nationalization measures, the Government guarantees that investors will receive fair and prompt monetary compensation.
5. The government guarantees that corporations and business entities established for the purposes of making private investments will enjoy full protection and respect for their professional, banking and business privacy and confidentiality.
6. The rights granted to private investors under the terms of this law are guaranteed without prejudice to any other rights resulting from accords and conventions to which the Government of Angola is a full party.

Investment areas reserved exclusively by the Angolan Government :

• Production, distribution and sale of materials of war;
• Central Bank and matters related to the national currency;
• Ownership of seaports and airports;
• Basic infrastructure for the national telecommunications network.

Sectors in which the Government must be a majority or senior partner :

• Local infrastructure, when part of the basic telecommunications system.
• Postal Service

Transfer of profits:
Under the terms and conditions established by the Currency Exchange Law, investors can transfer distributed dividends and profits abroad after deducting legal amortizations and taxes due on them, in accordance with their respective shares in the equity of the corporation or business entity.

They can also transfer the results of the liquidation of their investments (after paying any taxes owed), the results of compensations, royalties or other revenue obtained from indirect investments associated with technology transfer. Investors may also transfer any amounts owed them as stipulated in private investment agreements, following the deduction of any taxes due on them.

Investments in diamonds, petroleum and Financial Institutions are covered by specific legislation.

Priority sectors for investment:
In Angola, the priority sectors include farm production, manufacturing, fish and fish products, civil construction, health and education, and road, railroad, seaport, airport, telecommunications, energy and water infrastructure facilities.

As a result, tax incentives are used to encourage investment in these sectors. Tax incentives are also offered in accordance with the zone where the capital is invested (A, B or C).

Access to tax incentives is guaranteed for investments of at least 50,000 dollars domiciled in Angola, and at least 100,000 dollars domiciled in other countries, regardless of the investor’s nationality.

Tax on capital investments:
Investors may be exempted from taxes on capital investments for a 5-year period if they invest in zone A, 10 years for zone B, and 15 years for zone C. When acquiring land and real estate for the purposes of their projects, investors are also exempted from tax on the transfer of real-estate (SISA).

Other investments:
Customs taxes and other duties can be reduced by half for equipment imported for construction, spare parts, vehicles weighting up to 3.5 metric tons and raw materials for investments ranging from 50,000 to 250,000 dollars. The tax reduction can be up to 75 percent for imports of used equipment.

This class of investments includes priority sectors or zone C, projects that guarantee more than 10 job positions for Angolan nationals and new enterprises that will positively impact the region, including construction and or rehabilitation of economic or social infrastructure facilities.

When made in zone C, investments in new ventures as well as the rehabilitation of destroyed or stalled ventures will be exempted from the industrial tax for 10 years. This 10-year tax exemption will also be granted to investments in the food industry, farming, livestock husbandry and investments that create 50 or more job positions for Angolan nationals.

Area - 1,246,700 sq. km
Population - 12 million
Demographic density - 9 inhabitants per sq. km
Main cities: Luanda (capital), Huambo, Benguela, Malange, Lobito, Lubango
Languages - Portuguese (official language); several local languages: Umbundo, Kimbundo, Kikongo, etc.
Currency - Kwanza (KZ)

Choosing a means of investment:
Under the terms of Decree no. 29/92 of July 3, and Executive Decree no. 23/93 of October 29, all foreign investors intending to carry out activities in Angola must register with the Ministry of Finance and obtain a tax identification number and card as of the date they begin operations.

Depending on the magnitude and kind of activity being undertaken in Angola, if foreign investors intend to establish a physical presence in the country, they can choose to register as a representative office or establish a corporation or business entity under Angolan law.

Representative office:

• A representative office is established for the sole purpose of looking out for the interests of the foreign firm it represents, following up on and providing assistance to that firm’s business operations in Angola;
• A representative office has no independent legal authority to do business in its own name;
• It may have a maximum of 6 employees on its staff.

Because this kind of organization is subject to a number of restrictions, it is not advisable for foreign investors wishing to engage in regular, long-term economic activities in Angola, or intending to make major investments.

Branch office:

• Branch offices are the most common form of representation for foreign firms in Angola, because they permits foreign investors to do business in Angola on the same terms and under the same conditions as firms legally established in Angola.
• A branch office lacks an independent legal identity, although it is considered a legal person and can go to court or be the target of legal action under given circumstances.

Corporate or business entities established under Angolan law:

• A corporate or business entity is a legal person whose objective is to do business;
• In Angola, foreign investors may choose from among five types of corporate or business entities established by law:
  • Corporations
  • Limited partnerships
  • Limited co-partnerships
  • General partnerships
  • Limited co-partnerships by shares
  • For further information, see
    - Law no. 1/04, DR no.13
• Provisionally, any of the corporate or business entities established under Angolan law require several partners, but individual investors can also operate as merchants in their own names under the terms of Angola’s business law.

Tax Incentive

Imports of tax-exempt machinery and equipment:

• A Certificate of Registration for Private Investment (CRIP) must be submitted, together with the authorization for customs tax incentives, a copy of which is sent to the Customs Authority by ANIP, in conjunction with a list of the equipment to be incorporated into the project.
• The entry of machinery, equipment, accessories and other materials is documented on the basis of its CIF (cost, insurance and freight) value in foreign currency, and its equivalent value in Angolan currency, at the exchange rate of the date of arrival in Angola.
• Proof of the prices declared for machinery and equipment must be provided in the form of authorized documentation approved by the pre-shipment inspection agency.
• There is a 50% reduction for used machinery, equipment and accessories, instead of a customs tax exemption. There is a 100% exemption for new and unused goods.

Other advantages of investing in Angola:

• Exemption for up to six years from payment of customs tariffs and other taxes on goods and equipment, including heavy and technological vehicles, from the date of arrival until the beginning of operations for investments. Investors are only required to pay the tax stamp and service charges.
• Five-year exemptions from customs tariffs for merchandise incorporated into or directly consumed in the act of producing other products, including during the test stage. This does not include equipment, accessories, surplus parts and raw materials produced in Angola. For these goods, investors are only required to pay the tax stamp and service charges.
• Up to 15 years’ exemption from industrial tax for profits on investments, as well as the industrial tax on the price of the venture and subcontractors employed to carry out the investor’s business activities.
• Expenses incurred to build roads, railroads, install telecommunications facilities, water supply systems and social infrastructure facilities for workers, their families and communities, as well as expenses for professional training and investments in the arts and culture, in addition to the purchase of works of art from Angolan artists, will be considered tax-deductible expenses.

THE COUNTRY

Economy

Source: The World Factbook (CIA)

• GDP (Gross Domestic Product): purchasing power parity - USD18.36 billion (2002 est.)
• GDP - real growth rate: 9.4% (2002 est.)
• GDP - per capita: purchasing power parity - USD1,700 (2002 est.)
• GDP - composition by sector: agriculture: 8%, industry: 67%, services: 25% (2001 est.)
• Inflation Rate (Consumer prices): 106% (2002 est.)
• Labor force: 5 million (1997 est.)
• Labor force (by occupation): agriculture: 85%, industry and services: 15% (1997 est.)
• Budget: revenues: USD928 million
• Expenditures: USD 2.5 billion, including capital expenditures of USD963 million (1992 est.)
• Main industrial products: petroleum; diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; cement; basic metal products; fish processing; food processing; brewing; tobacco products; sugar; textiles
• Industrial production growth rate: 1%
• Electricity - production: 1.45 billion kWh (2001)
• Electricity - production by source: fossil fuel: 36.4% / hydro: 63.6%
• Electricity - consumption: 1.348 billion kWh (2001)
• Petroleum - production: 742,400 barrels/day (2001 est.)
• Petroleum - consumption: 31,000 barrels/day (2001 est.)
• Petroleum - proved reserves: 5,691 billion barrels (37257)
• Natural gas - production: 530 million cubic meters (2001 est.)
• Natural gas - consumption: 530 million cubic meters (2001 est.)
• Natural gas - proved reserves: 79.57 billion cubic meters (37257)
• Exports: USD 8.6 billion f.o.b. (2002 est.)
• Exports - commodities: crude oil, diamonds, refined petroleum products, gas, coffee, sisal, wood, cotton and fish.
• Exports - Trade Partners: USA 41.2%, China 13.7%, France 8%, Belgium 6.3%, Taiwan 6.3%, Japan 4.9%, Spain 4.3% (2002)
• Imports: USD4.1 billion f.o.b. (2002 est.)
• Imports - machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods
• Imports - Trade Partners: Portugal 20.2%, US 13.9%, South Africa 12.4%, France 6.7%, Brazil 5.8%, Belgium 5.3%, Netherlands 4% (2002)
• Debt - external: USD9.9 billion (2002 est.)
• Economic aid recipient: USD 383.5 million (1999)
• Currency: Kwanza (Kz)
• Currency code.: Kz
• Exchange rates: kwanza per USD - 80 (2004).

Infrastructure

COMMUNICATIONS

• Telephones – main lines: 72,000 (1998)
• Telephones – mobile/cellular: 380,000 (2004)
• International Satellite Earth Stations: 2 Intelsat (Atlantic Ocean)
• Radio (Broadcasters): AM 21, FM 6, Short wave 7 (2000)
• Radios (number of receivers): 815,000 (2000)
• Television (Broadcasters): 6 (2000)
• Television (TV sets): 196,000 (2000)
• Internet country code: .ao
• Internet hosts: 1 (2000)
• Internet users: 60,000 (2002)

TRANSPORTATION

• Railways: total 2,761 km
• Highways: total 51,429 km, paved 5,349 km, unpaved 46,080 km (1999)
• Waterways: 1,295 km
• Pipelines: gas 214 km; liquid natural gas 14 km; LPG 30 km; crude oil 845 km; refined products 56 km (2003)
• Ports and harbors: Ambriz, Cabinda, Lobito, Luanda, Malongo, Namibe, Porto Amboim, Soyo
• Merchant marine: total 8 ships (1,000 GRT ) 30,311 GRT/48,924 DWT
• Ships by type: cargo 7, oil tanker 1 (2002 est.)
• Airports: 243 (2002)
• Airports – with paved runways: total: 32; over 3,047 m: 4; 2,438 to 3,047 m: 8; 1,524 to 2,437 m: 14; 914 to 1.523 m: 5; less than 914 m: 1 (2002)
• Airports – with unpaved runways: total: 211; over 3,047 m: 2; 2,438 to 3,047 m: 4; 1,524 to 2,437 m: 30; 914 to 1,523 m: 95; less than 914 m: 80 (2002)

Financial system

Background:
The basic instrument for Angola’s financial sector, the Financial Institutions Law was passed in April 1999. This law regulates the process of establishing, operating and supervising loan institutions and financial entities.

Loan institutions are defined as companies whose activity consists of receiving deposits or other reimbursable funds from the public with a view to investing them by issuing loans. Loan institutions include banks, financial leasing entities and credit cooperatives.

Financial entities are companies that are not loan institutions and whose activities are defined in Law 1/99, according to the principle of specialization, and are only permitted to engage in transactions stipulated by the rules and regulations governing their respective field of activity. They may engage in the following activities: financial loan agencies, risk capital and investment agencies, securities managers, financial managers, stock brokers, investment fund managers, real-estate agencies, insurance firms, pension fund managers and bureaux de change.

Structure:
Except when stipulated otherwise by special legislation, loan institutions and financial entities are subject to supervision by the National Bank of Angola (BNA). The minimum capital required to establish such entities is 4 million US dollars. The following banks are currently active in the Angolan financial system:

• Banco de Fomento de Angola
• Banco de Poupança e Crédito
• Banco do Comércio e Indústria
• Banco Comercial Português
• Banco Comercial Angolano
• Banco Africano de Investimentos
• Banco Totta de Angola
• Banco Espírito Santo Angola
• Banco Sol
• Banco Keve

Representative offices of the following institutions are also active in Angola:

• Citibank
• Equator Bank
• Banco Espírito Santo
• Banque Paribas

MINISTRIES AND AGENCIES OF THE CENTRAL GOVERNMENT

Ministry of Territorial Administration
Av. Comandante Gika, 8 - Luanda
Tel.: 320729
Fax: 323272 - 321072

Ministry of Public Administration, Employment and Social Security
R. 17 de Setembro, 32
Caixa Postal 1986 - Luanda
Tel: 398749
Fax: 339796

Ministry of Agriculture and Rural Development
Av. Comandante Gika, 2º andar
Caixa Postal 527 - Luanda
Tel.: 320541/323857
Fax: 323593
Telex: 3322

Ministry of Social Assistance and Reinclusion
Av. Hoji Ya Henda, 117
Caixa Postal 102 - Luanda
Tel.: 442988

Ministry of Social Communication
Av. Comandante Valódia, 1º e 2º andar
Caixa Postal 2608 - Luanda
Tel.: 441466

Ministry of National Defense
R. do Palácio do Povo - Luanda
Tel.: 338156, 339202, 0339857

Ministry of Education and Culture
Av. Condante Gika
Caixa Postal 1281 - Luanda
Tel.: 321218
Telex: 411221

Ministry of Industry
R. Cerqueira Lukoki, 25
Caixa Postal 594 - Luanda
Tel.: 334700, 337070, 390728
Telex: 3373

Ministry of Justice
R. 17 de Setembro
Caixa Postal 2250 - Luanda
Tel.: 394040, 3303, 339914, 339341
Telex: 3196

Ministry of Youth and Sports
Av. Comandante Gika
Caixa Postal 5466 - Luanda
Tel.: 321117/8/9, 323561, 322090

Ministry of Health
R. 17 de Setembro
Caixa Postal 1201 - Luanda
Tel.: 338052, 338835, 339507
Telex: 3226

Ministry of Finance
Av. 4 de Fevereiro, 127
Caixa Postal 592 - Luanda
Tel.: 332273, 338540
Fax: 332069, 396843
Telex: 3363

Ministry of Public Works and Urban Development
Edifício da Mutamba, 5º andar
Caixa Postal 1061 - Luanda
Tel.: 336715, 335490
Fax: 392539
Telex: 3067

Ministry of Fishing and the Environment
Av. 4 de Fevereiro, Edifício Atlântico
Caixa Postal 83 - Luanda
Tel.: 310759
Telex: 3273

Ministry of Foreign Relations
Palácio do Comércio
R. Major Kahangulo
Tel.: 397490, 396976
Fax: 396776
Telex: 4186

Ministry of Geology and Mining
R. Ho Chi Min
Telex: 3324

Ministry of Commerce
Largo 4 de Fevereiro
Palácio de Vidro
Caixa Postal 1242 - Luanda
Tel.: 310335,
Fax: 310626
Telex: 3010, 3282

Ministry of the Interior
Av. 4 de Fevereiro
Caixa Postal 2732 - Luanda
Tel.: 391049/79, 3911107/75
Telex: 3213

Ministry of Planning
Largo do Palácio do Povo
Caixa Postal 1205 - Luanda
Tel.: 339529, 338686
Fax: 339586, 339759

Ministry of Petroleum
Av. 4 de Fevereiro, 11
Caixa Postal 1279 - Luanda
Tel.: 372373, 396178
Telex: 3300/337440

Ministry of Transport
Av. 4 de Fevereiro, 42 - 8º
Caixa Postal 2732 - Luanda
Tel.: 312562, 311581
Fax: 311581
Telex: 3108, 3224

Ministry of Hotels and Tourism
Largo 4 de Fevereiro
Palácio de Vidro - Luanda
Tel.: 310899

Ministry of the Family and Women’s Advancement
Largo 4 de Fevereiro
Palácio de Vidro, 2º andar - Luanda
Tel.: 311103
Telex: 310057 mincex

Ministry of Science and Technology
Ilha de Luanda
Ministry of the Post Office and Telecommunications
R. Major Kanhangulo - Luanda
Tel.: 311803, 310407
Telex: 0422

Ministry of Water and Power
Av. 4 de Fevereiro, 105 - 4º andar
Caixa Postal 2229 - Luanda
Tel.: 393681, 393687
Fax: 393687
Telex: 3300

National Assembly
Palácio dos Congressos
Avª 1º Congresso do MPLA - Luanda
Tel./Fax: 331118, 332540
Secretaria Geral: Tel.: 332140

Cabinet of Ministers
Secretariat
Av. Comandante Gika, Lg Portelo
Caixa postal 1237 - Luanda
Tel.: 392880, 469012

Attorney General
R. 17 de Setembro
Palácio do Povo, 1º esqº - Luanda
Tel.: 333162, 339640/1

ANGOLAN AND INTERNATIONAL BANKS

BAI
Banco Africano de Investimento
R. Major kanhangulo, 34
Caixa Postal 6022 - Luanda
Tel.: 393780/82/7369/3373337
Fax: 335486

BPC
Banco de Poupança e Crédito
Largo Saydi Mingas
Caixa postal 1343 - Luanda
Tel.: 392177, 390841, 391231
Telex: 3967
Fax: 393790, 390241

BCI
Banco de Comércio e Indústria
Av. 4 de Fevereiro, 84/86 - Luanda
Tel.: 333685, 333823, 333748
Fax: 391184

BNA
Banco Nacional de Angola
Av. 4 de Fevereiro, 151
Caixa Postal 1243 - Luanda
Secretariado
Tel.: 336364, 333775, 332633
Telex: 3308
Fax: 332633, 390579

Banco Comercial de Angola
Av. Comandante Valódia - Luanda
Tel.: 349548, 349517
Fax: 349516

Banco de Fomento Exterior
R. Dr. Alfredo Troni, Ed. BCP, 7º andar - Luanda
Tel.: 339198 / 4179
Fax: 339903

Banco Espírito Santo
R. Guilherme Pereira Inglês, 43 -1º - Luanda
Tel.: 333758
bebangola@angola.bis.pt

Banco Português do Atlântico
Largo Rainha Ginga, 6 e 8
Caixa Postal 5726 - Luanda
Tel.: 390991 / 397992 / 46
Fax: 397397

Banco Totta de Angola
Av. 4 de fevereiro, 99
Caixa Postal 1231 - Luanda
Tel.: 394783, 332393, 332729
Fax: 333233, 395088, 394685

Banco Keve
Rua Rainha Ginga
Tel.:394100/394161
Rua Cerqueira Lukoki, nº 25 - Edifício do Ministry of Indústria, 9º andar - Luanda/Angola
Tels.: + 244 (2)391434/331252 - Fax: + 244(2)393381

BCI - BANCO DE COMÉRCIO E INDÚSTRIA

Informations-Flyer:

Ihre Bank in Angola (PDF-Download)

O seu Banco em Angola (PDF-Download)

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