Angola recently enacted Presidential-Decree nr. 164/17 of July 12, which determines the fees and charges regarding the services provided by the State Administration Bodies involved in the analysis, negotiation, approval and monitoring process of the Private Investment Projects, namely by the Technical Unit for Private Investment (in Portuguese, “Unidade Técnica para o Investimento Privado” – “UTIP”) and by the Technical Units for Support to the Private Investment within the Ministerial Departments (in Portuguese, “Unidades Técnicas de Apoio ao Investimento Privado nos Departamentos Ministeriais” – “UTAIP”). This decree is already in force and replaces Executive Decree nr. 12/94, of May 20.
Under the reform of the Angolan private investment regime, UTAIP is responsible for receiving, analyzing and managing Private Investment Projects up to USD 10.000.000,00 and UTIP is responsible for receiving, analyzing and managing Private Investment Projects which are equivalent to or exceed USD 10.000.000,00.
Fees and charges provided for by this Presidential Decree are applicable to the following services which are provided to the prospective investors:
The calculation of the fees provided for in the above referred Presidential-Decree will be based upon the economical and financial dimension of the Private Investment Projects at stake, in accordance with the following chart:
– Private Investment Projects approval and amendment
|
From the equivalent in AKZ to USD 500.000,00 and up to USD 1.500.000,00 |
0,25%* |
|
From the equivalent in AKZ to USD 1.500.000,00 and up to USD 3.500.000,00 |
0,20%* |
|
From the equivalent in AKZ to USD 3.000.000,00 and up to USD 10.000.000,00 |
0,15%* |
|
Exceeding the equivalent in AKZ to USD 10.000.000,00 |
0,10%* |
* The fee will correspond to this percentage of the investment amount
– Issuing of Certificates and declarations
|
Issuance of the duplicate of the CRIP |
250.000,00 AKZ |
|
From the equivalent in AKZ to USD 1.500.000,00 and up to USD 3.500.000,00 |
100.000,00 AKZ |
Such fees and charges will only be charged after the approval of the relevant Investor application and the respective payment shall be completed through deposit or bank transfer, within 15 days from the date of issuance of the relevant invoice, being payment in installments exceptionally admitted under request to be presented by the investor.
This new law leads to a reduction on the costs connected with Private Investment in Angola and brings further transparency in what regards the fees and settlement thereof which, in our opinion, is something to be praised.
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