Foreigners intending to invest in Angola are generally not subject to any restrictions. However, certain industries, such as telephones, fishing, and diamond mining, require a majority of Angolan shareholders to form a company. Partnership Companies, Limited Partnership Companies, Partnership by Shares, Private Limited Liability Companies, and Public Limited Liability Companies are the several forms of companies that function in Angola. Private Limited Liability Corporations and Public Limited Liability Companies are the most popular types of companies formed in Angola. A share capital of $1000 US is required to create a limited liability company in Angola. The share capital of a PLC in Angola must be at least $20000 US dollars.
Company registration procedure in Angola
The following are the steps involved in forming a business in Angola:
Approval of the Business Name
The firm name must be registered in the Company Register. This procedure necessitates the submission of an application form and a photocopy of the applicant’s identification document, along with a statement of the company’s proposed name and a request for the issuance of a certificate confirming that the name is acceptable and not confusingly similar to that of another company.
Share Capital Payment
Any commercial bank authorized to operate in Angola must open a bank account in the name of the Company to be incorporated. The share capital is supposed to be placed in a bank account. A copy of the shareholders and Board of Directors identification documents, a certificate of the company’s name reservation, and the completion of paperwork are usually required.
Visit the Notary Public
The notary drafts and notarizes the articles of association. The notary will evaluate all of the documents, notarize them, and send them to the appropriate agencies for approval and completion, ensuring that the registration procedure is not delayed.
Register at the Commercial Registry
Applicants should go to the commercial registry and fill out the necessary documents to register their business. Pay the required fee and receive the certificate from the commercial registration.
Fill out an application with the Angolan Private Investment Agency (ANIP)
Submit to the ANIP a copy of the articles of organization, a copy of the commercial registry certificate, a copy of the tax card, and minutes containing the deliberation of the business’s competent organ approving the creation of an Angolan company. The type of business to be formed, the name of the person who will sign on behalf of the firm, and the share capital value will all be considered throughout this process.
Apply for a Tax ID Number
At the tax office, the candidate must apply for and receive a tax identification number (TIN).
Social Security registration
The social security department requires that the company and its employees be registered. In a One-Stop-Shop, the necessary forms are downloaded, filled up, and presented.
Obtain a Ministry of Commerce Commercial Operations Permit
To get the operation permission, the Applicant must provide a Commercial Registration Certificate, a list of the company’s directors, and directors’ ID documents (copy of residency permit or passport with a current work permit for non-Angolan residents), and email and phone contacts.
Make a declaration of the start of the activity
Take the appropriate paperwork, license, and Commercial Registry Certificate to the Tax Office to declare the start of your business.
The incorporation procedure takes about 5 days on average, but with the appropriate help, it can be completed in just one day. The overall cost of incorporation varies depending on the type of business. The cost of forming a private limited liability company is 12.000,00 KZ (USD 24,000), whereas forming a public limited liability company is 42.000,00 KZ (USD 81,000).
Angola’s taxation system
Angola’s corporate tax rate is 30%, and dividends paid by registered companies are taxed at 10%. If dividends are sent to a shareholder who owns at least 25% of the company, a tax exemption may apply. The capital gains tax rate for registered LLCs is 15%.
