Investment in Angola
Import regulations of Angola
Subsidies
Export Credit Financing



Investment in Angola

Most investments still take place in the offshore oil-sector, although investment in other sectors appears to be growing now as well. Angola ranks relatively high on investor security at number 46 worldwide. On the other hand, lengthy bureaucratic processes and other factors still make investing challenging. Lucrative investments are therefore will require patience and will be easier with good contacts. A loyal Angolan business partner is thereby also very important. There is currently no bilateral investment protection agreement (IBO) with Angola.

The Angolan government is aiming to attract more investment with recently introduced tax breaks and the reformed private investment law.

Tax incentives last between 8 to 15 years and include untaxed profit and custom exemption for the import of equipment. There are two factors that influence the applicability and duration of the tax break. Firstly, in which of the three specified investment zones in Angola is invested. Luanda for example is in Zone A and therefore has tax breaks lasting for 8 years, while in Huambo (Zone C) it is 15 years. Secondly, certain areas are considered priority sectors by the Angolan government. Infrastructure, agriculture and the building industry for example fall within this category.

Some of the recent legal reforms introduced include:

• the reduction of minimum investment from USD 250,000 to USD 100,000
• the shortening of approbation-period for investments to 15 days
• an investment is approved by issuing a CRIP (Registry Certificate of Private Investment) which also lists the fiscal and customs incentives applicable to the investment  

The Angolan investment agency ANIP is now the first point of contact for potential investors. Please refer to their website for complete information on investment in Angola:   http://www/investinangola.org/ingles/default.asp . 

Import regulations of Angola

A brief guide on the regulations of goods imported in Angola (taxation, documents, etc), can be requested from the Angolan National Directorate of Customs. Please refer to:

   alfandegasdeangola@hotmail.com / tel: (+244) 222 339 490 / 372 600

Subsidies

There are a number of subsidies available from the Dutch and European government institutions that Dutch companies may use for business in Angola. This information can be found at the website of the EVD (part of the Ministry of Economic Affairs). Please refer to:  http://www.evd.nl/ 

Important Dutch subsidy programs:

• ORET (Development Related Export Transactions). Organised via the FMO on behalf of the Ministry of foreign affairs. This subsidy covers up to 50 % of the financing of investments in local infrastructure whereby Dutch or foreign capital goods or services are necessary. Examples are roads, harbours, healthcare, education, etc. For more information, please refer to:     www.fmo.nl /   oret@fmo.nl /   africa@fmo.nl
  
• PESP (Program for Economic Corporation Projects). Organised by the EVD. The programme provides two thirds of the financing for technical or commercial feasibility studies for a project or investment. These entail activities which eventually will lead to actual export transactions. Dutch companies, in cooperation with Angolan enterprises, can apply for this facility. For more information, please refer to:   www.evd.nl/pesp/  pesp@info.evd.nl

Important European subsidy programs:

• Please refer to the department of Trade and Industry Support of the Dutch permanent representation with the EU in Brussels. They are willing to inform you how Dutch companies can participate in relevant tenders via the EOF (European Development Fund). For more information, please refer to:
  Hermann Debrouxlaan 48, 1160 Brussel, tel. 00 322 679 1537/34
    http://www.eu-nederland.be /   nlbreaob@euronet.be

Export Credit Financing

At the moment there is no Atradius (formerly NCM) export credit financing available on the medium term for transactions with Angola (EKV-facility). This might change in due course if Angola manages to come to an agreement with the IMF on restructuring the repayment of the debt. Please refer to:   http://www.atradius.com