ANGOLA NATIONAL PRIVATE INVESTIMENT AGENCY(Agência Nacional para o Investimento Privado)

Welcome to ANIP, the Government of Angola’s National Agency for Private Investment (Agência Nacional para o Investimento Privado). Our mission is to help carry out Government policies designed to support the growth of a diversified, stable economy that allows Angola to participate more fully in the global economy.

We work to promote private investment by Angolan and foreign nationals in targeted industry sectors and development zones. Our agency works within a legal framework that provides financial incentives for investment and seeks to assist investors through streamlined application procedures.

Our project analysis area provides interested parties with advisory support relative to potential development projects. They guide prospective investors through the application process and facilitate communication with other government ministries.

ANIP conducts its activities in accordance with:

the Private Investment Law (PIL - Law 11/03, 13 May 2003), which sets forth the requirements for domestic and foreign direct investment in Angola;

the Tax and Customs Incentives Law (Law 17/03, 25 July 2003), which authorizes the incentives generally available for private investment projects approved under the PIL; and

the Company Law (Law 1/04, 13 February 2004), which specifies rules governing the incorporation of companies in Angola.

Since 2003, ANIP has been involved in the launch of over 1,124 projects representing more than US$4 billion in investment capital. Today, as domestic and foreign investors seek new opportunities to achieve targeted returns on capital, investment interest in Angola is stronger than ever.

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The time to invest in the future is now. Invest in Angola.

With one of the fastest growing economies in the world, Angola is positioned to become an active member of the global economic community. From 1995 to 2004, Angola's GDP growth averaged 9 percent. In 2005, increased oil revenues propelled GDP to about 20 percent. Excluding oil and diamonds, the 2005 annual growth rate is estimated at 14 percent.

To implement its vision of transition to a robust market economy, the Government of Angola, through its National Agency for Private Investment (ANIP), actively promotes private investment by Angolan and foreign nationals in targeted industry sectors and development zones.

From its prime geographic location on the Atlantic Ocean - to its abundant natural and human resources - to economic development policies focused on private investment - Angola is ripe for investors interested in financial incentives that increase potential returns on capital. Today, when all eyes are on Africa, Angola is committed to becoming a prime attraction for the private investment that is key to its plans for economic growth.

Investor Services

The cornerstone of ANIP’s mission is to attract, educate and assist qualified investors – both Angolan nationals and foreigners – as they explore the wide range of investment opportunities in targeted industry sectors and development zones in Angola. ANIP acts as an advocate for investors.

ANIP seeks to assist investors through streamlined application procedures. Project proposals valued at under US$5 million are reviewed within 15 days of receipt of a complete proposal package. Proposals valued at over US$5 million are reviewed and then forwarded to the Council of Ministries which then has 30 days to approve the project.

ANIP disseminates information about the financial incentives for targeted investment and helps identify projects related to particular areas of investor interest. ANIP takes an active role in negotiating proposals, provides technical and legal assistance, and is responsible for flagging areas that penalize investors.

ANIP’s project analysts guide prospective investors through the completion of the documents that support the application to ANIP. Once an application is in process, a dedicated project analyst facilitates communications among the investor and the relevant Angolan ministries.

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Investment Statistics

Since 2003, ANIP has been involved in the launch of over 1,124 projects representing more than US$4 billion in investment capital. Today, as domestic and foreign investors seek new opportunities to achieve targeted returns on capital, investment interest in Angola is stronger than ever.

Year Total Approved Prosposals Amount of Investment

2003 99 USD 162 Million

2004 267 USD 416 Million

2005 295 USD 2.655 Billion

2006 463 USD 794 Million

Sector Total Investment (in thousands of USD)

Percentage of Total Investment

Agriculture 22 2.77%

Fishing 8.6 1.08%

Mining 85.7 10.80%

Industry 173 21.80%

Construction 238 29.99%

Commerce 35.4 4.46%

Restaurants/Lodging 100 12.60%

Transportation 64.4 8.12%

Real Estate 41.9 5.28%

Education 2.5 0.32%

Health 5.8 0.73%

Other 16.2 2.04%

Investor Guide

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All new investors to Angola should contact the Angolan Private Investment Agency (ANIP) as a first step. Regardless of the size of the investment, ANIP can provide valuable sector analysis, investment information and can help identify business opportunities. ANIP assists investors regardless of investment category-whether Prior Declaration (Declaraçao Previa) or Contractual Regime (Regime Contractual).

 

How to Apply

Investors interested in submitting a proposal to ANIP can obtain an application from ANIP for a fee of US$150.

In our role as investor advocate, our project analysts guide investors trough the completion of the documents that support the application.

Once an application package has been submitted, we assign a project analyst to be the key contact for the investor during the proposal review period. The project analyst facilitates communications among the investor and the relevant Angolan ministries.

 ANIP Streamlines Application Timelines

ANIP reviews investment proposals by Angolan nationals valued at US$50,000 to US$5 million and foreign direct investors valued at US$100,000 to US$5 million within 15 days of receipt of a complete proposal package.

Projects Under US$5 Million: 15-Day Timeline

ANIP and the Council of Ministers review investment proposals valued at US$5 million or more. Applicants for projects of this size must submit an expanded proposal that includes financial, economic and technical feasibility studies and a draft contract. These proposals are reviewed and a contract between ANIP and the Investor is signed. The proposal is then forward to the Council of Ministries which has 30 days of to approved the investment.

Projects Over US$5 Million: 30-Day Timeline

Targeted Sectors

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To implement its vision of transition to a robust market economy, the Government of Angola, through ANIP, actively promotes private investment by Angolan and foreign nationals in the following areas. Investors in these areas are automatically eligible for incentives.

Targeted Industry Sectors

Agriculture Civil Construction and Related Services Electricity and Water Infrastructure Development and Management Tourism and Hotels Processing Industries Mining

Development Zones Eligible for Financial Incentives

Zone A - Province of Luanda, the capital-municipalities of the Provinces of Benguela, Huíla, Cabinda and the Municipality of Lobito

Zone B - Remaining municipalities of the provinces of Benguela, Cabinda and Huíla and the Provinces of Kwanza Norte, Bengo, Uíge, Kwanza Sul, Lunda Norte and Lunda Sul

Zone C - Provinces of Huambo, Bié, Moxico, Cuando Cubango, Cunene, Namibe, Malanje and Zaire

ANIP approves projects subject to the Prior Declaration (Declaraçao Previa) Law:

Angolan NationalsMinimum Investment: US$50,000Maximum Investment: US$5 million

Foreign Direct InvestorsMinimum Investment: US$100,000Maximum Investment: US$5 million

ANIP and the Council of Ministers approve projects subject to the Contractual Regime (Regime Contractual):

All Projects Valued Over US$5 Million

The Council of Ministers also approves:

Projects subject to concession agreements such as those related to oil exploration and diamond mining

Projects that require public company participation

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 Reserved Areas of Investment

The Government of Angola will be a majority or senior partner in:

Infrastructure projects related to the telecommunications system Postal Service

The Government of Angola has exclusive responsibility for the development and maintenance of:

Production, distribution and sale of military materials Central banking and matters related to the national currency Ownership and administration of seaports and airports

Financial Incentives

To implement its vision of transition to a sustainable market economy that lifts living standards for all citizens, the Government of Angola, through ANIP, actively promotes private investment by Angolan and foreign nationals in the following areas:

Targeted Industry Sectors

Agriculture Civil Construction and Related Services Electricity and Water Infrastructure Development and Management Tourism and Hotels Processing Industries Mining

Development Zones Eligible for Financial Incentives

Zone A – Province of Luanda, the capital-municipalities of the Provinces of Benguela, Huíla, Cabinda and the Municipality of Lobito Investment operations in Zone A are exempt from payment of duties and fees for 3 years.

Zone B – Remaining municipalities of the provinces of Benguela, Cabinda and Huíla and the Provinces of Kwanza Norte, Bengo, Uíge, Kwanza Sul, Lunda Norte and Lunda Sul Investment operations in Zone B are exempt from payment of duties and fees for 4 years.

Zone C – Provinces of Huambo, Bié, Moxico, Cuando Cubango, Cunene, Namibe, Malanje and Zaire Investment operations in Zone C are exempt from payment of duties and fees for 6 years

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Eligible Industries Farming & Animal Breeding, Processing, Fishing & Derivatives, Civil Construction, Health & Education, Energy & Water Infrastructure, Roads & Railroads, Ports & Airports, Telecommunications, Heavy Cargo & Passenger Equipment

Where Will You Be Located? Your Incentives Are: Bonus Incentives:

Development Zone

Customs Duties: Investment operations are exempt from payment of duties & fees

Industrial Tax: Profits yielded from investments are exempt from the payment of industrial tax

Capital Gains Tax: Companies that promote capital investments are exempt from the payment of capital gains tax

Industrial Tax Exemption for a Period of up to 10 Years

Investment Expenditures Assessed as Costs

Zone A: Province of Luanda, the capital municipalities of the Provinces of Benguela, Huila, Cabinda & the Municipality of Lobito

3 Years 8 Years 5 Years -

Up to 100% of the expenses incurred in the construction & repair of roads, railroads, telecommunications, water supply and social infrastructure for the workers, their families & local inhabitants

Zone B: Remaining municipalities of the provinces of Benguela, Cabinda & Huila, & Provinces of Kwanza Norte, Bengo, Uige, Kwanza Sul, Luanda Norte & Luanda Sul

4 Years 12 Years 10 Years

Investments creating 50 or more full-time jobs for national citizens

Up to 100% of the expenses incurred in vocational training in all fields of social & productive activity

Zone C: Provinces of Huambo, Bie, Moxico, Cuando Cubango, Cunene, Namibe, Malanje & Zaire

6 Years 15 Years 15 Years

Investments in new undertakings & in the rehabilitation of destroyed or paralyzed undertakings in the priority areas (Zone C only)

Up to 100% of the expenses incurred in investments carried out in the cultural sector and/or purchase of works of art of Angolan authors & creators, provided they remain in Angola and are not sold for a period of 10 years

Special Economic Zones: Defined on a project basis - - - - -

Legal Entity Structure

Approved investors conduct business in Angola by registering a subsidiary, forming a partnership or incorporating.

ANIP conducts its investment promotion activities in accordance with:

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The Private Investment Law (PIL - Law 11/03, 13 May 2003), which sets forth the requirements for domestic and foreign direct investment in Angola;

The Tax and Customs Incentives Law (Law 17/03, 25 July 2003), which authorizes the incentives generally available for private investment projects approved under the PIL; and

The Company Law (Law 1/04, 13 February 2004), which specifies rules governing the incorporation of companies in Angola.

 The Company Law provides several options for structuring the legal entity through which approved projects are implemented.

Subsidiary A subsidiary has full legal authority to enter into business contracts. During registration the parent company allocates to the subsidiary a designated amount for capitalization purposes. A subsidiary operates much like a local company in its dealings with third parties.

Local Company A local company may be organized as a: (i) General Partnership (Sociedade em Nome Colectivo); (ii) Limited Partnership; (iii) Limited Partnership with Share Capital; (iv) Limited Liability Company by Quotas (Limitada or LDA); or (v) Joint Stock Company (Sociedade Anónima or SA).

The most common legal entities used by investors are the Limited Liability Company by Quotas and the Joint Stock Company.

Limited Liability Company by Quotas An LDA has a minimum of two shareholders. The minimum capital requirement is the Angolan currency (Kwanza) equivalent of US$1,000. Shareholders may defer payment of 50% of the minimum capital requirement provided that the minimum is fully paid up on the effective date of incorporation. An LDA appoints a Management group and General Assembly. LDAs without an Audit Committee may be required to appoint a Chartered Accountant if certain thresholds are reached.

Joint Stock Company An SA has a minimum of five shareholders; if one shareholder is a State entity the minimum number of shareholders is reduced to two. The minimum capital requirement is the Angolan currency (Kwanza) equivalent of US$20,000, 30% of which must be fully paid up on the effective date of incorporation. The SA appoints a General Assembly, Board of Directors and an Audit Committee.

 Registration and Licensing Requirements

Following are the registration and licensing requirements for all legal entities:

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Tax Registration Commercial Registration Statistical Registration Commercial Operations Permit and/or Industrial Permit Registration as Importer/Exporter Social Security Registration

 

Notary Deed of Incorporation

A local company applying for incorporation must open a bank account and deposit the requisite funds for capitalization. Proof of the deposit is submitted to the Notary Public for execution of a Notary Deed of Incorporation.

Business Tax Rates

Angola’s Corporate Income Tax Code of 1972 as amended by Law 18/92, contains the provisions for business tax rates. Companies and self-employed individuals are subject to business income tax. In addition, domestic dividends, interest and royalties are subject to withholding of an investment income tax under Law 7/97 Withholding Tax.

According to the code, a resident company is taxed on its worldwide income. Non-residents that derive income in Angola are subject to the same rules as residents. Corporate Income Tax must be paid by the 31st of May of the year followiing the year for which tax is due. However, 75% of the final tax amount (based on the previous years tax return) must be paid in interim payments in January, February and March. Special tax regulations apply to companies in the petroleum and mining sectors.

Resident Companies

Business Income Tax

Standard Rate 35%

Mining Enterprises 35%

Oil Enterprises50% for production sharing agreement partners, 66.75% for joint venture partners taxed as business income

Capital Gains Dividends

Domestic Source 10%

Foreign Source Taxed as business income

Interest 15% for loans; 10% for corporate bonds

Royalties

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Domestic Source 10%

Foreign Source Exempt

Fees Taxed as business income

Rent Taxed as business income Capital Gains Tax There is no separate Capital Gains Tax in Angola. The taxation of capital gains is as follows:

For business income tax purposes, worldwide capital gains are treated as ordinary business income

Capital gains derived by individuals who are not in business form the alienation of immovable or movable property are not subject to any tax.

Capital gains from the sale of shares, quotas and other corporate righs do not attract investment income tax.

Transaction Taxes The standard rates of comsumption tax is 10%. In some cases the consumption tax is reduced to 2% (domestic supplies and some commidities) while increased tax rates of 20 – 30% apply to commodities which are essentially luxury goods.

Stamp and Transfer Duty Stamp duty applies to transactions, acts, deeds, documents, papers, receipts and other transactions. In certain cases, the amount of duty is fixed; in others it is a percentage in the range of 0.3% to 10%. The most common stamp duty rate is 1%.

 Repatriation of Profits Pursuant to the Currency Exchange Law, investors can repatriate distributed dividends and profits after deducting legal amortizations and paying taxes due in accordance with their proportional equity ownership in the company.

Payments from asset liquidation, private investment agreements, compensation, royalties and revenue from indirect investments related to technology transfer may be repatriated after payment of applicable taxes. Investments in diamonds, petroleum and financial institutions are covered by separate legislation.

Investment Protection

To encourage the private investment vital to its development, Angola’s new legal framework institutionalizes a rule of law stipulating that Government authority can only be legitimately exercised in accordance with written, publicly-disclosed laws adopted and enforced pursuant to established procedures.

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Angola’s Private Investment Law prohibits nationalization of private investor assets and guarantees non-interference the management of private companies. It protects and upholds intellectual property rights, licenses and professional, banking and commercial secrecy codes. Investors are guaranteed the right to due process before the law. The Government also has enacted numerous other laws and regulations that provide additional protection for investors. In addition, Angola is a member of several international organizations and conventions that protect private investment.

 Angola’s legal framework contains provisions that relate to the following: The Government of Angola guarantees private investors due legal process

and access to Angolan courts of law to defend their rights. In the event of expropriation of private assets, due to greater force and

with full legal justification, the Government guarantees payment of fair compensation promptly and effectively that will be valued in accordance with applicable rules and regulations.

The assets of private investors cannot be nationalized. In the event of a change in the political or economic regime that results in

exceptional nationalization measures, the Government guarantees that private investors will receive fair and prompt monetary compensation.

The Government guarantees that private corporations and business entities will enjoy full protection and respect for professional, banking and business privacy and confidentiality.

The rights granted to private investors under the terms of Angolan law are guaranteed without prejudice to any other rights resulting from accords and conventions to which the Government of Angola is a full party.

 Angola Laws

The Voluntary Arbitration Law provides for non-judicial arbitration of disputes, except for cases expressly excluded by the law.

The Land and Urban Planning Law clarifies land ownership and tenure. Under the law, all land is the property of the state; the law contains provisions for land occupation, leasing, and land use for private purposes.

Environmental protection regulations require an Environmental Impact Study for investment projects in areas such as petroleum, mining, power stations and road construction.

New licensing regulations in the energy sector provide stronger legal protections for private investment in infrastructure projects such as building dams, power plants or electricity distribution grids.

The General Labor Law outlines responsibilities of employers and employees. Regulations favor the hiring of Angolan nationals (“Angolanization”) and mandate equal pay for Angolan and expatriate staff with the same job functions and responsibilities. Expatriate staff in Angola is limited to 30 percent of a company’s workforce.

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 Participation in International Treaties and Conventions Angola is a member of the Multilateral Investment Guarantee Agency

(MIGA), which provides private sector investment guarantees and dispute settlement assistance.

Angola is a member of the World Intellectual Property Organization (WIPO) and adheres to its code of international classification of patent and trademark registration.

Angola has approved the Paris Convention for the Protection of Industrial Intellectual Property for the protection of patents and trademarks.

Angola has signed bilateral investment treaties with Portugal, South Africa, the United Kingdom, Italy and Germany. Upon ratification, these treaties will provide additional incentives and protections to investors from these countries. A bilateral investment agreement with Cape Verde has already been ratified.

Angola has adopted the Southern African Development Community (SADC) free trade protocol that will harmonize trade and customs regimes and reduce tariffs among the 14 SADC member states.

Angola has signed customs cooperation agreements with Portugal, Sao Tome and Principe and is in discussions with South Africa, the Community of Portuguese Speaking States (CPLP), Namibia, Zambia and the Democratic Republic of Congo on similar agreements.

Required Documents

Angolan nationals and foreign investors interested in submitting a proposal to ANIP can obtain an application from ANIP for a fee of US$150. This form can be purchased at the offices of ANIP in Luanda.

Our project analysts guide potential investors through the completion of the documents that support the application. Contact us today to learn more about investing in Angola.

Proposal Package Translation It is important to note that all documentation in the application package must be translated into Portuguese and certified by the Angolan Embassy in the country of residency of the investor.

A complete application includes the following documents:

An Application A description of the proposed project A Declaração Prévia (Prior Declaration) form for investments up to US$5

million Draft project contract Documentation that identifies the applicant’s legal standing

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Ministry of Commerce Certificate of Admissibility for investors planning to set up a company in Angola

Power of Attorney, if applicable Criminal Record Certificate (for individual investors) List of the equipment and facilities to be used for the project By-Laws and Board Minutes if the investor is a partner in an existing

company

Proposal Review Timeline

ANIP works within a legal framework that provides financial incentives for investment and seeks to assist investors through streamlined application procedures. Once an application has been submitted, we assign a project analyst to be the key contact for the investor during the proposal review period. The project analyst facilitates communications among the investor and the relevant Angolan ministries.

 ANIP Streamlines Application Timelines

ANIP reviews investment proposals by Angolan nationals valued at US$50,000 to US$5 million and foreign direct investors valued at US$100,000 to US$5 million within 15 days of receipt of a complete proposal package.

Projects Under US$5 Million: 15-Day Timeline (Declaraçao Previa)

ANIP and the Council of Ministers review investment proposals valued at US$5 million or more. Applicants for projects of this size must submit an expanded proposal that includes financial, economic and technical feasibility studies and a draft contract. These proposals are reviewed within 30 days of receipt of a completed proposal package.

Projects Over US$5 Million: 30-Day Timeline (Regime Contractual)

ANIP Post-Approval

When a project is approved, ANIP issues a Certificate of Registration for Private Investment (Certificado de Registo do Investimento Privado, CRIP) authorizing the commencement of operations. Upon receipt of the CRIP, the principals must register a company, publish company

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by-laws in the official gazette (Diario de Republica), obtain a business license and register with fiscal authorities.

ANIP sends a copy of the CRIP to the National Bank of Angola (BNA) to authorize the entry of foreign capital. ANIP also sends a copy of the CRIP to the Customs Office and relevant ministries.

Post Approval

ANIP must issue Private Investment Registration Certificate (CRIP)

Customs Office

National Bank

Ministries

Investment Application

Investors interested in submitting a proposal to ANIP can obtain an application from ANIP for a fee of US$150. This form can be purchased at the offices of ANIP in Luanda.

About Angola

With one of the fastest growing economies in the world, Angola is positioned as an active member of the global economic community. From 1995 to 2004, Angola’s GDP growth averaged 9 percent. In 2005, increased oil revenues propelled GDP to about 20 percent. Excluding oil and diamonds, the 2005 annual growth rate is estimated at 14 percent, largely due to strength in agricultural production.

The Republic of Angola is a multiparty democracy with a Presidential regime. The current President is Jose Eduardo dos Santos. The Cabinet consists of a Council of Ministers appointed by the President. The National Assembly has 220 seats; members are elected by proportional vote for four-year terms.

 Angola Quick Facts

Official Language Portuguese

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Primary Local Languages Kimbundo, Kikongo, Umbundo

Unit of Currency Kwanza (KZ)

Land Area 1,246,700 sq. km.

Capital City Luanda

Population 14 million (Est. 2002), 16 million (Est. 2010)

Population in Key Cities:

Luanda 3 million

Benguela 1.6 million

Huambo 1.5 million

Huila 1.2 million

Bie 1 million

Province Overviews  

Namibe

Overview

The province of Namibe, which is in Zone C, spans 57,901 square kilometers (22,356 square miles) in the southwest region of Angola. It is situated along 480 kilometers (298 miles) of Atlantic coastline and has a population of 225,000 inhabitants. Namibe offers numerous opportunities for investment in the fishing, agriculture and livestock industries.

Namibe accounts for 65% of Angola’s fishing activity; potential projects related to this industry include refrigeration, canning and drying of natural resources harvested from the ocean. The rich soil in Namibe is well suited for growing a wide range of crops including potatoes, yams, mandioca and fruits. There is an abundance of available land for farming projects as well as opportunities to start companies for the processing of agricultural output.

Namibe has numerous primary schools; second- and third- level schools are in the capitals of each municipality. The standard of living is continually improving. The province has nearly 1,400 kilometers (870 miles) of primary and secondary roads, over 900 kilometers (559 miles) of railways, an international airport, many small aerodromes and two robust power sources.

Enhancing the infrastructure of Namibe is a priority. To improve travel in the province, the government is renovating secondary roads and has begun work on sections of the railway. Renovations of the railway drainage system and

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modernization of the train control system are underway. The government is also repairing power lines, renovating tubular wells and purchasing new fishing equipment to build a strong foundation for economic growth.

 Investment Incentives for Namibe

Customs Duties: Exemption from payment of customs duties and taxes for 6 years

Industrial Tax: Exemption from payment of industrial tax for 12 years

Investment Opportunities

Fishing and Fishing Derivatives Agriculture and Agriculture Derivatives Livestock

Namibe Quick Facts

Zone: CPopulation: 225,000Situated along 480 km (298 miles) of Atlantic Ocean coastline Accounts for 65% of Angolan fishing activityNearly 1,400 kilometers (870 miles) of primary and secondary roadsOne international airport and 20 small aerodromesLocated south of Benguela Province, west of Huila Province, east of the Atlantic Ocean and north of River Cunene and the Republic of Namibia

Kwanza-Norte

Overview

The province of Kwanza-Norte, which is in Zone B, spans 20,000 kilometers (12,428 miles). With a population of approximately 400,000, the average density is 20 inhabitants per square kilometer. Cazengo, Ndalatando is the largest municipality with a population of 102,112 inhabitants.

The climate and soil in Kwanza-Norte support a variety of agricultural products. Its plateaus are ideal for growing cereals and coffee; its mountains are well suited for farming, coffee, palm and fruit trees. Fruit, palm and vegetables are particularly abundant in the area of the intersection of the Kwanza and Lucala Rivers.

In addition to agriculture, other potential areas of investment include:

Forestry – wood industries and wood products Cattle Farming – rehabilitating cattle farming and restocking cattle

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Small-Scale Fishing – in four lagoons and the Kwanza and Lucala Rivers Small Industry – abundant raw materials for the revival of yarn-spinning

and blanket production

Carianga Airport accommodates small and medium-sized aircraft. The Luanda Railway, which is under reconstruction, runs for 350 km (217 miles) and connects the Port of Luanda to Bengo and Malange.

The Government has several projects underway to build schools, health centers, water pumps and sanitation facilities to promote agricultural production and support small businesses. There are plans to rehabilitate the medium-voltage network, reopen the hydroelectric plant in Kambabe, renovate 300 km (373 miles) of main roads, 6.20 meters (19.7 feet) of bridges and 6 metal bridges as well as secondary roads and bridges.

Investment Incentives for Kwanza-Norte

Customs Duties: Exemption from payment of customs duties and taxes for 4 years

Industrial Tax: Exemption from payment of industrial tax for 12 years

Investment Opportunities

Agriculture Forestry Cattle Farming Small-scale Fishing

 

Kwanza-Norte Quick Facts

Zone: BPopulation: 400,000 (approximate)Area: 20,000 kilometers (12,428 miles) Average Population Density: 20 inhabitants per square kilometerLargest Municipality: Cazengo, Ndalatando – 102,112 people

 

Main Industrial Products

Petroleum Diamonds Iron Ore Phosphates Feldspar

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BauxiteUranium Gold Cement Basic Metal Products Fish Processing Food Processing Brewing Tobacco Sugar Textiles

Financial System

Angola's financial system is administered under the Financial Institutions Law (Law 13/05, 30 September 2005), which provides for the establishment, operations and supervision of financial institutions. The financial sector is regulated by the Ministry of Finance (www.minfin.gv.ao).

 Types of Financial Institutions

Loan institutions are companies whose primary activity is the collection of deposits and other reimbursable funds for the purpose of issuing loans. Loan institutions include banks, financial leasing entities and credit cooperatives.

Financial entities engage in specialized activities as defined in Law 1/99 and include the following: financial loan agencies, risk capital and investment agencies, securities managers, financial managers, stock brokers, investment fund managers, real estate agencies, insurance firms, pension fund managers and currency exchange. A financial entity is not a loan institution.

Loan institutions and financial entities are generally subject to supervision by the National Bank of Angola (BNA - www.bna.ao).

 The banks operating in Angola are:

Banco Africano de Investimentos (BAI) http://www.bancobai.co.ao/ Banco BIC http://www.bancobic.ao/ Banco Comercial Angolano (BCA) Banco Comercial Português Banco de Comércio e Indústria (BCI) www.bci.ao/ Banco de Fomento de Angola (BFA) www.bfa.ao/ Banco de Poupança e Crédito (BPC) http://www.bpc.ao/ Banco Espírito Santo Angola (BESA) http://www.besa.ao/

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Banco Nacional de Angola http://www.bna.ao Banco Millennium Angola Banco Popular de Angola Banco Regional do Keve (BRK) http://www.bankev.com/ Banco Sol Banco Totta de Angola Banque Paribas (Representative Office) Novo Banco (NVB) Standard Bank (Representative Office)

Economic Profile

GDP (Gross Domestic Product):                     US$17.3 Billion GDP - Real Growth Rate:                               15.3% GDP - per Capita (Real Growth Rate - in %):    22.4% (2006) GDP Per Capita:                                            US$ 2,780 (2006) GDP - Composition by Sector

Agriculture:                                          8% Industry:                                             67% Services:                                            25% (2001 Est.)

Inflation Rate:                                               12% Labor Force:                                                 5 million Labor Force By Sector

Agriculture:                                         85% Industry and services:                         15% (1997 Est.)

 Budget Revenues US$928 millionRevenues (% GDP) 38 (2006)Expenses (% GDP) 35.7 (2006)Government Expenditure (in % of GDP) 38.1 (2006)Expenditures US$2.5 billion (including Capital Expenditures of US$963 million (1992 Est.)

Currency - Kwanza (Kz) Exchange Rates1 USD = 76 Kz1 JPY = .63 Kz1 EUR = 103 Kz1 GPB = 150 Kz

Import/Export Statistics

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Import StatisticsAngola imports approximately US$5 billion in goods and services. Major Imports Machinery and Electrical EquipmentVehicles and Spare PartsMedicineFoodTextiles Sugar Cane CoffeeSisal Maize CottonCassava RootTobacco Vegetables Livestock Fish and Fishing Derivatives

Import PartnersPortugal 20%South Africa 13%United States 13%France 7%Brazil 6%Other 41%

Export StatisticsAngola exports approximately US$14.5 billion f.o.b. Major ExportsPetroleum and Derivatives Diamonds GasCoffee Sisal Fish and Fishing DerivativesTimberCotton

Export PartnersUnited States 44.2%China 18.7%France 9%Belgium 8.8%Spain 2.1%Other 17.2%

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Visit Angola

Angola is growing in popularity as a tourist destination. The Ministry of Tourism reports that 194,326 tourists from Portugal, South America, France, Brazil, the U.K. and the U.S. visited in 2004 and spent USD 97 million. Here is a list of attractions for visitors to Angola:

 

Airlines

AEROFLOT (Friday - Once every 15 days)

Air France (Tuesday)

Air Namibia (Friday/Sunday/Wednesday)

British Airways (Saturday)

Ethiopian (Monday/Tuesday/Friday)

SN Brussels (Sunday)

South African Airlines (Tuesday/Thursday/Saturday)

Tap-Air Portugal (Tuesday/Thursday/Friday/Saturday/Sunday)

TAAG Angola Airlines (Linhas Aéreas de Angola)

Auto Rental

Boaboa Rent-A-Car - Tel: (2442)396105 / 33 8334. Fax: (2442)371068. Email: boaboa_lda@hotmail.com

Hiper Grupo - Tel: (2442)322736.

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Twendy - Tel: (2442)327500. Fax: (2442)327500.

Avis Rent-A-Car - Av Che Guevara, #250. Tel: 321551 / 323182. Fax: 323515 / 321620. Email: avis.angola@netangola.com

Ango Car Lda - R. Gomes de Sousa, 51, 2º Floor, Apt-1, Luanda. Tel: (222) 390572.

Aventour - Rent-A-Car e Tourismo, Lda. - Alameda Manuel Vandunen, 152 Luanda. Tel: (222) 442215 / 442627. Fax: (222) 442507. Email: aventour.rentacar@netangola.com

Europcar - R. Domingos Tchekahanga, 18 Luanda. Tel: (222) 396995 / 390837. Fax: (222) 394080.

Hertz - R. Pedro Felix Machado, 51, 2º andar, CP 1716 Luanda. Tel: (222) 330668 / 330669. Fax: (222) 330982. Email: catladsec@aol.com

Hotels

Complexo Hoteleiro da EndiamaTel. +244 2 446937 / 447954 Fax +244 2 446937Address: R. Houari Baumediene, #66-68.

Hotel Alvalade (4 Star)Tel. +244 2 326333 / 327470 Fax +244 2 327480 Address: R. Emilio M'Bidi.

Hotel ContinentalTel. +244 2 334243 / 396599 Fax +244 2 392735Address: R. Rainha Ginga, #18-21Email: hcontinental.lda@netangola.com

Hotel Fórum Tel. +244 2 321858 / 321882 Fax +244 2 326506Address: Av. Ho Chi MinhEmail: forumhotel@netangola.com

Hotel Le Presidente MeridienTel. +244 2 330048 / 330037 Fax +244 2 331141

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Address: Largo 4 de Fevereiro, #4Email: hpresidente@netangola.com

Hotel MundialTel. +244 2 390406 / 390565 Fax +244 2 337239Address: R. Cons. Júlio Vilhena, #14Email: hotelmundial@snet.co.ao

Hotel Tivoli Tel +244 2 391593 / 393890 Fax +244 2 391128Address: R. da Missao, #85Email: htivoli@ebonet.net

Hotel Trópico (4 Star)Tel. +244 2 370050 / 70 / 90 Fax +244 2 393330Address: R. Missao, #103Email: htropico@netangola.com

Restaurants

Pizza and Light Fare

Rialto - Tel. +244 2 391827 Pizza, pasta, burgers, bar, and ice cream stand. Rialto's has an open veranda. Av. 4 de Fevereiro, towards the island, after the Central Bank.

Pizzaria Bela Napoles - Tel. +244 2 447860Italian restaurant specializing in pizza. They also serve hamburgers, grilled chicken, good ice cream and other items. Rua Rei Katyavala 73-A. Open Daily.

Café del MarOwned by the same proprietor as Coconuts and located on the island next to Coconuts. Good place to go for light sandwiches and breakfast. Also has live jazz on Tuesday nights after 9 p.m.

O Comilão - Tel. +244 2 430943A quaint restaurant for breakfast or a light lunch, with peaceful outdoor seating. Rua Rey Katyavala, 33A. Hours: 7am - 10pm.

Complexo Danado de Bom (Cine Karl Marx) - Tel. +244 2 323456Good sandwiches and beer served at their sidewalk café. Also has a nice restaurant inside to the right, before the theater entrance. Ice cream and popcorn available. A small play area for children. R. Garcia Resende 19/21

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Swim Bar - Tel. +244 2 325197Patio style restaurant and bar for calm and peaceful evenings. Located at the Hotel Alvalade swimming pool complex. Restaurant Hours: 10 p.m.-midnight, Bar Hours: 10 p.m.- 2 a.m.

Multi-Bocas A popular, local, and inexpensive restaurant across the street from Tamariz on the island.

BahiaServes international cuisine. Located on the Marginal, close to the Fort.

 Asian and Chinese

Macau A small Chinese restaurant located on the Island. Good food and nice ocean view..

Hotel Marinha - Tel. +244 2 309726/309727Casino bar serving Chinese and Korean food. Located on the Island, Travessa Mortali Mohamed. Breakfast: 7:30-10 a.m., Lunch: 12:30-2:30 p.m., Dinner: 7:30-9:30 p.m.

Chez Wou - Tel. +244 2 309394/92613293An elegant Chinese restaurant. Located close to the entrance to the Island on the left. Av. Massano de Amorim, 8, Chicala, island. Open M-F: 12-2:30 p.m., 6:30-10:30 p.m., Saturday: Dinner Only, Sunday: 12-4 p.m., 6:30-10:30 p.m.

 Brazilian

Churrascão Brazilian rodizio - Located on the Island.

Casa 70 - Tel. +244 2 265004, +923 319183, Fax +244 2 260467Churrascaria (Brazilian style BBQ) and show venue. All the big stars perform here. Check local papers for upcoming events. Rua da Liberdade 70. Email: casa70@netangola.com.

 Angolan and Portuguese

Bordão - Tel. +244 309028. Angolan and Portuguese cuisine. Nice atmosphere. Popular for lunch. Located on the Island de Luanda, at the end just as the U-turn is made to come back. (Look for blue and white striped awnings.)

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Naquele Lugar - Tel. +244 2 923 416995 or +912 508320 Charming outdoor patio. They serve good Portuguese and continental food. Reservations recommended; order in advance. Located near The Fort.

São Jorge - Tel. +244 2 309812Located on the Island de Luanda after Coconuts and Miami Beach restaurants.

Tambarino - Tel. +244 2 396884/397343Portuguese restaurant with a nice bar and lounge area. Lunch and dinner served Monday through Friday. No dinner service on Saturday, closed Sundays. Located at Av. Amilcar Cabral 23. Hours: 12:30 p.m.-2 .pm., 7:30-11 p.m.

Embaixador - Tel: +244 2 396979/397157Nice atmosphere, serving mostly grilled meats. Rua Lopes de Lima 62 (Rua Clube Maritimo Africano).

Cantinho da Tia FernandaTraditional Portuguese food prepared by the proprietor, Dona Fernanda. Say "ola" to the African grey parrots. Good grilled lobster and wonderful mousse de maracuja. Rua Feo Torres, 2, Miramar

 Other Ethnic

O Caril (Cozinha Gastronomica Indiana) - Tel. +244 2 309594 For reservations: +912 527230/306813Menu is a la carte. Owners Mansur and Narmin Kassam do the restaurant catering. Take-away available. Saturdays BBQ on the terrace facing the ocean beginning at 7:00 p.m. Open Monday-Saturday: 11:30 a.m.-2:30 p.m., Evenings at 5:00 p.m. Palm Beach Hotel, Av. Motala Muhamad (Ilha) 188A

 Other Continental

Coconuts Angolan, Portuguese and European food. Menu available in English, Portuguese and French. Very nice atmosphere with a patio overlooking the ocean. Restaurant has its own beach area and lounge for sunbathing in the afternoon. Located on the Island.

Caribe - Tel. +912 202887, Upscale beach restaurant with a nice atmosphere. Lunch "entradas" are available for a portion of the dinner price. Located on the Island.

Cais de Quatro - Tel. +244 2 309410, Fax +244 2 309286An elegant, hip bayside restaurant. On weekends, you can use the pool if you

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dine. Live music on Friday nights and Sunday afternoons. Located on the Island. Email: caisdequatro@hotmail.com

Miami - Tel. +923 310898A bar and restaurant on the beach with a nice atmosphere. Located on the Island. Beach chairs for sunbathing available. Salsa and merengue on Saturday nights at this open air club.

 Take Out and Fast Food

Frango no Churrasco - Tel. +244 2 398868Grilled chicken, pork, beef, rice, salads, puddings and ice cream bars. Take-out only. Rua Americo Boavida, #135, located near USAID. Open daily from 9 a.m.-10 p.m., Sunday 9 a.m.-9 p.m.

 Romantic

PIMMS - Tel. +244 2 326290, Fax +244 2 324598Rua Garcia Resende, 112, Alvalade (behind Hotel). Lunch: 12 p.m.-3:30 p.m., Dinner: 7:30 p.m-midnight. Saturdays dinner only. Sundays closed.

Holidays

 January 1:      New Years Day

January 4:      Martyr’s Day

February 4:     Initiation of Armed Struggle

March 8:         International Women’s Day

April 4:           Peace Day

May 1:           Worker’s Day

May 25:          Africa Day

June 1:           International Children’s Day

September 6:  Armed Forces Day

September 17: National Heroes Day

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November 2:    All Souls Day

November 11:  Independence Day

December 25:  Christmas Day

Other Holidays Observed in Angola:

Carnival (Date Depends on Easter Holiday)

Good Friday (Date Depends on Easter Holiday)

Visa Information

Below is general information for the benefit of individuals planning travel to Angola in the near term on a Consular visa. Under current regulations, the local consular office is authorized to process ordinary visas and work visas. Please check with your local consular office for complete information, including application fees. The Consular office of the Embassy of Angola in your country has the right to request additional information.

 Work Visa

The work visa is initiated in the country of origin. The Consular office sends the work visa request to the Angolan Directorate for Immigration and Customs (DEFA) in Luanda for approval. The work visa is valid for a specific period of time according to your country of origin. Processing time is at least 45 days from the date of receipt in our office of a completed application. Contact your local consulate for complete details.

Ordinary Visa

The ordinary visa is valid for a specific period of time according to your country of origin. Processing time is up to four days from the date of receipt in our office of a completed application. Contact your local consulate for complete details.

 Required Documentation

An application form filled out in duplicate

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One recent passport photograph with your name on back (no snapshots) A passport valid for at least 6 months Documentation or correspondence related to the purpose of travel Documentation required for a transit visa Photocopy of a round-trip airline ticket or travel itinerary Additional documentation required for an ordinary visa A letter of invitation from your local contact in Angola Proof of means of support while in Angola (US$ 100 per day) (A bank

statement or letter from a sponsoring employer is generally considered sufficient.)

 Additional Documentation for Work Visas

Copy of contract addressed to the Consular services of the Embassy of Angola signed by a representative of the hiring employer,or trip sponsor. The letter should reference the job to be performed by the applicant, the duration of the engagement and a pledge to assume full financial responsibility for the applicant. It must be authenticated by a Public Notary.

Two additional photographs Statement agreeing to respect Angolan laws authenticated by a Public

Notary Authenticated certification of no pending criminal proceedings Statement of health, including HIV test, authenticated by a Public Notary

Links

Agostinho Neto University College of Medicine     http://www.fmuan.ao

Angola Airlines       http://www.taag.aero

Angola Telecom       http://www.angolatelecom.com

Angolan National Radio        http://www.rna.ao

Angolan National Newspaper       http://www.jornaldeangola.com

ANGOP (Angola News Agency)       http://www.angolapress-angop.ao

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BDA (Angola's Development Bank)   http://www.bda.ao

BNA (National Bank of Angola)   http://www.bna.ao

CAE (Business Support Center)       http://www.caeangola.com

ENDIAMA (Angola's National Diamond Company)    http://www.endiama.co.ao

The Embassy of the Republic of Angola - Japan    http://www.angola.or.jp/

The Embassy of the Republic of Angola - Portugal http://embangola.artedesign-net.pt/

The Embassy of the Republic of Angola - Spain   http://www.embajadadeangola.com/

The Embassy of the Republic of Angola - United Kingdom http://www.angola.org.uk/

The Embassy of the Republic of Angola - United States    http://www.angola.org/

Government of Angola       http://www.angola-portal.ao

National Assembly of Angola (in Portuguese)    http://www.parlamento.ao

National TV       http://www.tpa.ao

Nexus        http://www.nexus.ao

Ministry of Commerce       http://www.dnci.net

Ministry of Finance       http://www.minfin.gv.ao

Ministry of Fisheries        http://www.angola-minpescas.com

Ministry of Public Administration Job and Social Security http://www.mapess.gv.ao

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Sonangol        http://www.sonangol.co.ao

Weather in Angola       http://weather.noaa.gov/weather/AO_cc.html

 

Contact Us

ANIP

Rua Cerqueira Lukoki No. 25   Edificio do Ministerio da Industria 9º Andar   Luanda - Angola   Tel. +244 2 391434, 331252    Fax: +244 2 332965

For matters relating to submitted proposals, please contact: operations@investinangola.com

All other inquiries:info@investinangola.com

Embassy of the Republic of Angola in Serbia

Contacts:Angola EmbassyVase Pelagica 3211000 BelgradeSerbiaPhone numbers:(011)3690241(011)3693270Fax numbers:(011)3690191

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Email:ambasada.angole@sbb.rs

Websitewww.angolaembassy.org.rs

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