30 June 2011
On 19 April 2011, the Angolan Parliament adopted the Private Investment Law (Lei do Investimento Privado) and it was ratified by the Angolan President on 19 May 2011. It has now come into force and replaces the 2003 Law which previously regulated private investments in Angola.
It was deemed necessary to change the 2003 Law in order to make the arrangements for investments in Angola and the investment procedures clearer and simpler. Furthermore, the Law needed to be brought in line with the new Constitution and fiscal and customs incentives for private investments needed to be adapted.
Some of the changes to the investment regime as a result of this replacement are quite significant.
The attached client briefing describes some of the features of the Private Investment Law.