Angola - Amendment to the Regulation of the Private Investment Law

In brief

It was published the Presidential Decree 271/21, of 16 November, which amends the Regulation of the Private Investment Law, in order to accommodate the amendments to the Private Investment Law, namely with the introduction of the contractual regime.

Among the most relevant amendments, we highlight the following:

• The contractual regime applies to the investment projects:
  • carried out in any sector of activity, for an amount equal to or greater than the equivalent in Kwanzas corresponding to USD 10,000,000, and that create at least 50 direct job positions for nationals;
  • considered to be structuring (ie. with potential to induce growth and development) and that create at least 50 direct job positions;
• The submission of a Financial and Economic Feasibility Study or a Business Plan is now required under the contractual regime;
• It was revoked the rule that established that foreign investors and companies in the first investment project with incentives and facilities were ineligible for domestic credit.

The Presidential Decree entered into force on the date of its publication.

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