Business entities in Angola in 2024
Healy Consultants will assist our Clients with incorporating the optimum corporate structure in Angola. As outlined in the table below, the business entities most frequently used by investors are the limited liability company, the public limited company, the branch and the representative office.
The Angolan limited liability company (LDA)
- The Angolan LLC is the business entity most commonly used by foreign entrepreneurs when incorporating a company in Angola. Capital is divided into quotas and shareholders are jointly liable for their investments. An Angolan LLC must appoint 1 director and 2 shareholders and does not require a minimum paid-up share capital;
- Shareholders are allowed to defer 50% of the minimum share capital as long as the amount is paid in full by the date of incorporation of the company.
The Angolan public limited company (SA)
- This Angola company setup will require at least 5 shareholders and 3 directors for company incorporation. The minimum paid-up share capital required is US$20,000, 30% of which must be fully paid before the incorporation of the company;
- All Angola public limited companies are required to go through an annual audit and appoint for this purpose, a board of auditors with at least three members.
The Angola branch office (Sucursal)
This Angola business setup requires a local resident be appointed as the entity’s registered representative in the country. The scope of operations for this entity will be defined by the parent company. Also, the branch office will have an independent management team and corporate bank account based in Angola.
The Angola representative office (Escritório de representação)
An Angolan representative office is set up for the purpose of i) market research and ii) promoting the business of the foreign firm it represents. A representative office is not allowed to pursue production-related or commercial activities and can only have a maximum of 6 employees, with a 50% quota on foreign employees. The company must also deposit a performance bond guarantee in an Angola corporate bank account in the amount of US$60,000.
Comparison between different Angola business entities
| LLC | PLC | Branch | Rep office | |
|---|---|---|---|---|
| Also known as? | LDA | SARL | Sucursal | Escritório de representação |
| How long to set the company up? | 18 weeks | 18 weeks | 20 weeks | 20 weeks |
| How long to open company bank account? | 4 weeks | 4 weeks | 5 weeks | 5 weeks |
| Legal liability? | Limited | Limited | Unlimited | Unlimited |
| Wholly foreign owned? | Yes | Yes | Yes | Yes |
| Minimum paid - up share capital? | US$1,000 | US$20,000 | US$0 | US$60,000 |
| File annual tax return? | Yes | Yes | Yes | No |
| Tax registration certificate required? | Yes | Yes | Yes | No |
| Recommended corporate bank account? | Standard Chartered Bank | Banco de Fomento Angola | Banco BIC | Banco Angolano de Investmentos |
| Does our Client need to travel? | No | No | No | No |
| Resident director required? | No | No | No | No |
| Resident shareholder required? | No | No | No | No |
| Minimum directors allowed? | 1 | 3 | 1 | 1 |
| Minimum shareholders? | 2 | 5 | 1 | 1 |
| Tax identification code needed? | Yes | Yes | Yes | No |
| Angola resident company secretary required? | No | No | No | No |
| Corporate shareholders allowed? | Yes | Yes | Yes | Yes |
| Corporate director(s) allowed? | Yes | Yes | Yes | Yes |
| Angola corporate tax rate? | 25% | 25% | 25% | 0% |
| Annual financial statements required? | Yes | Yes | Yes | No |
| Statutory audit required? | No | Yes | No | No |
| Regulated by? | Ministry of Commerce | Ministry of Commerce | Ministry of Commerce | Ministry of Commerce |
| Allowed to issue sales invoices? | Yes | Yes | Yes | No |
| Allowed to sign contracts? | Yes | Yes | Yes | No |
| Allowed to import and export goods? | Yes | Yes | Yes | No |
| Can rent an office space in Angola? | Yes | Yes | Yes | Yes |
| Can buy Angola property? | Yes | Yes | Yes | No |
| Can own equity in other Angola companies? | Yes | Yes | Yes | No |
| Total Angola business setup costs in yr. 1? | US$78,340 | US$75,340 | US$79,340 | US$79,340 |
| Subsequent annual costs (incl. accounting and tax fee)? | US$20,440 | US$20,440 | US$20,440 | US$20,440 |
| Sample engagement invoice? | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF |
