Angola company registration

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.

Summary table of Angola company registration

SummaryTax resident LLCJoint VentureFree trade zone companyRepresentative officeBranch office
Also known asSociedades por Quotas de Responsabilidade LimitadaSociedade em comandita por acçõesSpecial economic zone companyEscritório de representaçãoSucursal
Best use of company?All products and servicesProfessional ServicesGlobal tradingMarketing & researchSpecific projects
How soon can you invoice Clients\sign sales contracts?4 months4 months4 months5 months5 months
How soon can you hire staff?4 months4 months4 months5 months5 months
How soon can you sign a lease agreement?1 week1 week1 week1 week1 week
How long to supply corporate bank account numbers?5 months5 months5 months6 months6 months
How long to supply company registration \ tax numbers?4 months4 months4 months5 months5 months
Corporate tax rate on annual net profits?30%30%0%None30%
Limited liability entity?YesYesYesNoNo
Government grants available?YesYesYesNoYes
Government approval required for foreign owners?YesYesYesYesYes
Resident director/partner/manager/ legal representative required?NoNoNoYesYes
Minimum paid up share capital?US$1,000US$1,000US$100,000NoneUS$60,000
Can bid for Government contracts?YesYesYesNoYes
Corporate bank account location?National Bank of AngolaBAIBCABanco SolBFA
Can secure trade finance?YesYesYesNoYes
VAT payable on sales to local customers?10%10%10%Cannot trade10%
Average total business set up engagement costs?US$75,340US$81,340US$79,290US$78,340US$78,340
Average total engagement period?5 months5 months5 months6 months6 months

Angola company registration summary

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  • Advantages of Angola company registration

    business opportunity in Angola

    1. Angola is one of the fastest growing countries in the world, averaging 11.1% growth per year over the past decade;
    2. 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;
    3. 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;
    4. An Angola Limited Liability Company (LLC) requires a minimum of 2 shareholders and can be entirely foreign owned;
    5. An Angolan LLC requires a minimum share value of only US$1,000.
    6. Angola is one of the largest producers of oil in Africa, manufacturing approximately 1.7 million barrels of oil per day (as per 2017). Additionally, the country is rich in its diamond reserves, hydroelectric potential, and agricultural land. Therefore, it is a resource-rich country for the investors to conduct their business in.
  • Disadvantages of Angola company registration

    1. 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;
    2. An Angola LLC is liable for a corporate tax rate of 35% and may also register for VAT, which is charged at 10%;
    3. 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;
    4. 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;
    5. 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;
    6. Opening global corporate bank accounts to assist the company registration process can be complicated, due to the lack of internationally recognized banks in Angola.
    7. Angola’s economy is highly dependent on its oil production. However, the corporate tax rates for mining and oil industries are as high as 50% (to even 65.75% for some cases) in Angola. This makes doing business in Angola as one of the most expensive business undertakings in the world.

Company registration

  • Time to incorporate: Eighteen weeks
  • Cost to set up: US$75,340
  • Minimum capital: US$1,000
  • Physical office required: Yes

Required appointments

  • Shareholders: 2
  • Directors: 1
  • Company secretary: No
  • Resident director: No

Key facts

  • Corporate tax rate: 35%
  • Corporate tax base: Worldwide
  • Shelf companies: Unavailable
  • Main company type: Limited company

Business set up strategy
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Contact us

For additional information on our company registration services in Angola, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Kunal Fabiani, directly: