DOING BUSINESS IN ANGOLA IN 2018
Since 2003, Healy Consultants Group PLC has assisted our Clients with business registration in Angola. Our services include i) Angola company incorporation ii) gaining foreign investment approval from the National Agency for Private Investment (ANIP) iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.
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Advantages of Angola company registration
- Angola is one of the fastest growing countries in the world, averaging 11.1% growth per year over the past decade;
- Angola has abundant natural resources, which fuels their export-based economy. Angola’s reserves of oil, gas and diamonds are some of the largest in the world;
- Companies investing in special economic zones will be entitled to benefits including i) exemption from payment of import duties on raw materials (5 years) and machinery (10 years) and ii) exemption from payment of custom duties on exports from the zone;
- An Angola Limited Liability Company (LLC) requires a minimum of 2 shareholders and can be entirely foreign owned;
- An Angolan LLC requires a minimum share value of only US$1,000.
Disadvantages of Angola company registration
- Angolan companies with any foreign ownership are subject to approval by the National Agency for Private Investment (“ANIP”). The minimum investment amount (per investor) in order to be able to repatriate profits abroad is US$1,000,000. Registering an Angola company is therefore time consuming, requiring an average of over 4.5 months to fully complete incorporation;
- An Angola LLC is liable for a corporate tax rate of 35% and may also register for VAT, which is charged at 10%;
- Angola was negatively ranked as the 164th freest economy in the Heritage Foundation’s 2018 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets. High corruption and a lack of protection for property rights were the main reasons behind Angola’s low rank;
- Angola is negatively ranked as the 167th least corrupt country in the world, according to the 2017 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians;
- Angola is negatively ranked as the 175th easiest country to do business in. The International Finance Corporation study lists difficulties enforcing contracts and registering property as the main barriers to business;
- Opening global corporate bank accounts to assist the company registration process can be complicated, due to the lack of internationally recognized banks in Angola.
- Time to incorporate: Eighteen weeks
- Cost to set up: US$75,340
- Minimum capital: US$1,000
- Physical office required: Yes
- Shareholders: 2
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 35%
- Corporate tax base: Worldwide
- Shelf companies: Unavailable
- Main company type: Limited company