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Welcome To Invest in Timor-Leste. Function of Trade Invest 2 Trade Invest operates under the State...
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Transcript of Welcome To Invest in Timor-Leste. Function of Trade Invest 2 Trade Invest operates under the State...
Welcome To Invest in Timor-Leste
Function of Trade Invest2
Trade Invest operates under the State Secretary of Private Sector (SEAPRI) with authority to facilitate
foreign investors and domestic (promotion, facilitation and coordination).
TIMOR-LESTEGoverment Policy on Investment
3
Promotion
Stimulation
Special Agreement
Investment Guarantees
Promote Small and Medium Enterprises
INVESTMENT REGISTRATION PROCEDURES
4
Procedures Benefits Time and Registration fee’s
Submit proposal to AEI/Trade Invest
Accompany with :1. Business Planning2. Copy of passport3. CV4. Bank Reference
(international standard bank that exist in TL)
5. Company Statute6. 1 year previous
balance sheet 7. Minute of share
holder meeting to invest in TL
100%Income tax Sales Tax ( capital goods and equipment)Service taxCustoms incentives
Urban area 5 yearsRural Area 8 yearsEnclave 10 years
State property lease for 50 years
1. Processing time 30 days
2. Official fee USD2000
3. Granted the investment certificate
• Limit 180 days to implement the investment
• Extend to another 90 days
• Cancel the investment certificate
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Procedures Minimum Capital Observation
Submit proposal to AEI/Trade Invest
IDObjective, out put & targetExpected project locationLand concession expectedInvestment amount estimationJob creation estimation Nature of companyImplementation timingEstimate start deadlineTraining foreseen
$1,5 M Foreign Direct Investment (FDI)50,000 (Local750,000 ( Joint Venture)
50% cash
10% cashNational control 75% of share
INVESTMENT REGISTRATION PROCEDURES(Proposal and Investment capital)
Investment Registration Process:
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III III IV. total time of 30 days
Investment Commission Ad Hoc, Tourism, Fisheries
and Trade
Permanent Investment Commission members, Labor, Taxation, Trade
Invest, Immigration Environment Land and
Customs.
Submit Application
Trade Invest
Private Investment Commission
Registration fee $2,000
Received Certificate
7
Example:Tax Payment Receipt and Investment
Certificate
Investment Guarantees
8
Access to all sectors of the economy according to the law in Timor-Leste Nationalization of assets can only be made by Law & Compensation Enforcement the same on the domesetic and foreign investment Profit from Investment Access for foreign workers Free assests transfer Access to foreign currency Fair midiation of investment disputes Alternative International arbitration
Special Investment Agreement9
The government can established special agreement through legislation specific investment for investment or re-investment based on economic interests, social, environmental or technology that have a major impact on the national interest which are not contained in the government law of private investment article 21, 22, 24 and 25. ( Law no 14/2011)
Liability of Investors
10
Subject to applicable laws and regulations in force in Timor-Leste.
Hiring and Training for local workers.
Implementing rules relating to environmental protection, health and security of labor-related legislation.
Subject to the rules and procedures of the legislative system that can be applied in determining the financial transference.
Follow goverment rules and procedures.
Submit periodically investment activity reports to the office of Trade Invest.
DEVELOPMENT PLAN2011 - 2030
INVESTMENT OPPORTUNITIESStrategic Development Plan
G A S O I L
A G R OI N D U S T RY
F O R E S T RYL I V E S T O C K
O N S H O R E
O F F S H O R E
C O F F E E
C E R E A L S
T I M B E R
C AT T L E
INVESTMENT OPPORTUNITIESStrategic Development Plan
F I S H E R I E S
T O U R I S M
E N E R G Y
C O M M E R C I A L
E X P O R T
T R E K I N G
S E A
S O L A R
W I N D
INVESTMENT OPPORTUNITIESStrategic Development Plan
INFRASTRUCTURE
CIVIL CONSTRUCTION
TRANSPORT
R O A D S
B R I D G E S
B R I D G E S
H O U S I N G
A I R P O R T S
P O R T S
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Obrigado Barak...
Thank You...
Trade Invest – AEI