On 28 February 2018, the Council of Ministers approved a new draft Private Investment Law, which will establish new principles and rules aimed at facilitating, promoting and accelerating private investment operations in Angola. The draft statute is still subject to the National Assembly’s approval and once enacted will introduce significant changes in the legal framework applicable to private investment, such as:

• The elimination of the obligation to establish a partnership with an Angolan entity in order to implement projects in the sectors of electricity and water, tourism, transport and logistics, construction, media, telecommunications and IT;

• A new, simplified procedure for the approval of investment projects, along with the adoption of measures aimed at accelerating the current contractual process;

• New rules for obtaining tax and customs benefits that are specific to each project; 

• Special rights for certain projects, including easier access to visas and priority in the repatriation of dividends; and

• The creation of a State-run agency to act as the sole authority for negotiating, approving and supervising investment projects.

The final wording of the new Private Investment Law is still to be discussed and approved by the National Assembly before coming into force.

For further information, please contact:
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